Home > NEWS > Privacy-Focused Gnosis Chain Co-Founder Proposes Plan to Reduce Ethereum Dependency for GNO Token

Privacy-Focused Gnosis Chain Co-Founder Proposes Plan to Reduce Ethereum Dependency for GNO Token

Martin Köppelmann flagged potential security issues in a proposal discussion on Gnosis’ governance forums.

Martin K ö ppelmann, founder of privacy-conscious Etherum SideChain Gnosis, offers some solutions to reduce dependence on the outside world and improve the security of GNO tokens on Etherum and Gnosis.

In the basic exchange of the Gnosis Governance Forum, K ö ppelmann stated that although GNO was originally forged on the ether, the GNO token comes from the bridging mode contract and represents the settlement of GNO's claim in the ether-which could create potential security problems for the token if "an accident could make a difference between the two".

K ö ppelmann points to a major factor in the risk of roads and bridges in his proposal. "at this stage, Bridge has the right to produce infinite GNO tokens in Gnosticism," he wrote. Naturally, it only needs to cast a GNO token on the Gnosis when the etheric locks the equivalent GNO token (which is actually limited), but unfortunately, the bridge is still a potential source of network hackers and system vulnerabilities, so it is a risk.

K ö ppelmann added: "every bridge system vulnerability is very dangerous at any time, but because GNO is related to the consensus of the chain, it also applies to GNO."

Bridge refers to the transmission of tokens between different block chains of the Internet according to a means of the block chain. But this important app became a major security concern last year, as cyber attacks sought to find a weak spot that caused damage to cross-link bridges or stolen 2 billion dollars, according to WJB.

Another focus of discussion is the granting of 10 million GNO tokens on the ether. K ö ppelmann says 7 million of the tokens need to be damaged and there is no way to apply for enforcement "according to the code"-or automatically under a smart contract if the booking standard is met.

K ö ppelmann stressed: "changing the 'origin of facts' of GNO to the Gnosis chain will give us the opportunity to conduct DAO online voting in a coded manner."

The proposed solution includes increasing the supply of GNO in Gnosis to 3 million, revoking the right to cast new GNO for roads and bridges, and establishing independent system software contracts to ensure that new GNO is cast in the event of withdrawal from the Ethernet block chain.

"in practice, this change should not compromise GNO tokens in the ether or GNO tokens on Gnosis. However, this change is to reduce the internal dependence on the Gnosis chain, and then make it more elastic safe, "the basic discussion concluded.

by wjb news
© 2023 WJB All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

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