Ronin is a sidechain to the Ethereum (ETH) blockchain developed specifically for Sky Mavis’ crypto-based play-to-earn game Axie Infinity. The comments from Huobi’s Li came after news broke on Tuesday that the Ronin bridge, which is used to connect the Ronin network to other blockchains, had been drained by hackers for ETH 173,600 and USDC 25.5m, now worth some USD 615m. The analyst added that Ronin has taken “shortcuts to relieve network bottlenecks,” and said that cutting down the number of nodes on the network has made it “easier for hackers to exploit.” “It still doesn't solve the fundamental problem of how proof-of-stake blockchains can keep transactions fast, user-friendly, and energy-efficient without compromising security.” “This hack reflects the continuing challenges that blockchains and operators face in balancing user experience and security,” Huobi Research Institute head Flora Li said in a commentary on Wednesday, suggesting that the low number of nodes on the Ronin network was a fundamental problem.Īlthough Axie Infinity (AXS) developer Sky Mavis has “pledged to raise the number of required nodes to eight,” this is not enough, Li said. The recent hack of Axie Infinity’s Ronin bridge reveals how proof-of-stake ( PoS) chains still struggle with a fundamental flaw in their design, with speed and energy efficiency prioritized over security, an analyst at crypto exchange Huobi has said. Medieval Knight with Arrow In Eye Slot - a popular meme.
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