The Ethereum Foundation has launched the “Trillion Dollar Safety” (1TS) initiative, a sweeping plan aimed toward enhancing Ethereum’s safety structure to assist trillions in on-chain worth.
In keeping with a Could 14 official announcement, the purpose is to make Ethereum (ETH) safe sufficient to assist trillions of {dollars} in worth held by people, corporations, and even governments. Ethereum is already probably the most safe blockchains and powers hundreds of decentralized apps.
However the Foundation says this isn’t sufficient. To assist the following wave of customers and real-world adoption, Ethereum wants stronger protections throughout each a part of its system, from wallets to sensible contracts to the core protocol.
The 1TS initiative will begin by figuring out weak spots throughout the Ethereum stack. This consists of areas like consumer expertise, sensible contract bugs, pockets safety, and threats to the consensus layer of the blockchain. The crew will work on enhancements and assist initiatives aimed toward long-term safety upgrades based mostly on this assessment.
Fredrik Svantes and Josh Stark from the Ethereum Foundation will spearhead the initiative, with assist from three famend safety specialists Zach Obront of Etherealize, Mehdi Zerouali of Sigma Prime, and Samczsun of SEAL. As well as, the 1TS program will fund bug bounties, official code checks, and improved developer instruments. The purpose is to make all customers, from massive organizations to personal residents, really feel safe about storing worth on Ethereum.
The Foundation is asking the bigger Ethereum neighborhood to take part and supply suggestions on areas that require security enhancements. As extra individuals and organizations depend on blockchain techniques, Ethereum desires to verify it may be trusted on the highest degree.
Except for decentralized finance, the community already leads in market share for real-world property, one of many fastest-growing and most promising sectors. As per RWA.xyz data, Ethereum at the moment holds $6.9 billion in tokenized real-world property, accounting for over 58% of the overall market. When together with layer-2 networks like zkSync, that share rises to almost 89%.
The necessity for robust and dependable infrastructure is already changing into extra pressing as extra real-world property transfer on-chain, therefore the newest safety initiative.
