03-30-2022, 09:00 PM
Reminder: Polygon is secured by an even smaller 5-of-8 multisig.
<!-- SC_OFF --><div class="md"><p>With Ronin debacle, I'd like to remember people that Polygon has a 5-of-8 multisig protecting several billions.</p> <p>The risks have been highlighted several times in the past 12 months. While it's understandable at the launch of a protocol for emergencies, the latest hack shows how risky and expensive it is to have security of a chain rely on an small number of people.</p> <p>Also in the past Binance + the second biggest staker represented ~50% of the stake. Though it improved significantly ( <a href="https://wallet.polygon.technology/staking/validators/">https://wallet.polygon.technology/staking/validators/</a> )</p> </div><!-- SC_ON --> submitted by <a href="https://www.reddit.com/user/Karyo_Ten"> /u/Karyo_Ten </a> <br/> <span><a href="https://www.reddit.com/r/CryptoCurrency/comments/trk3xg/reminder_polygon_is_secured_by_an_even_smaller/">[link]</a></span> <span><a href="https://www.reddit.com/r/CryptoCurrency/comments/trk3xg/reminder_polygon_is_secured_by_an_even_smaller/">[comments]</a></span>Kind Regards R
<!-- SC_OFF --><div class="md"><p>With Ronin debacle, I'd like to remember people that Polygon has a 5-of-8 multisig protecting several billions.</p> <p>The risks have been highlighted several times in the past 12 months. While it's understandable at the launch of a protocol for emergencies, the latest hack shows how risky and expensive it is to have security of a chain rely on an small number of people.</p> <p>Also in the past Binance + the second biggest staker represented ~50% of the stake. Though it improved significantly ( <a href="https://wallet.polygon.technology/staking/validators/">https://wallet.polygon.technology/staking/validators/</a> )</p> </div><!-- SC_ON --> submitted by <a href="https://www.reddit.com/user/Karyo_Ten"> /u/Karyo_Ten </a> <br/> <span><a href="https://www.reddit.com/r/CryptoCurrency/comments/trk3xg/reminder_polygon_is_secured_by_an_even_smaller/">[link]</a></span> <span><a href="https://www.reddit.com/r/CryptoCurrency/comments/trk3xg/reminder_polygon_is_secured_by_an_even_smaller/">[comments]</a></span>Kind Regards R