TeleportDAO
About big project teleoprt dao ..
TeleportDAO is the most secure, decentralized, and capital-efficient bridge.
High risk of data loss
The most important aspect of a blockchain bridge is security. Users using secure blockchains and secure dApps don't want to risk their assets or data when moving them around in different blockchains. They want to maintain the security they had on the original chain.
Insecure protocol
In validator-based bridges, the security of the protocol is tight to the total staked collateral of validators. So for example, if such a bridge wants to move $1B from the source chain to the target chain, the validator committee should stake at least $1B.
And its solution …
Solution
- Security
TeleportDAO obstructs the high risk of data loss by directly connecting different blockchains together without the need to add a new layer of validators (~ oracles) to the bridge. Using validators adds vulnerability to the system. They can get hacked, or they might collude to act maliciously (e.g. submit invalid data) as they are way more centralized than huge blockchains committees. Instead, TeleportDAO implements the light client of the source chain on the target chain to verify the correctness of cross-chain data using the smart contract.
- Capital-efficiency
- In TeleportDAO, the security of the protocol is tight to the security of the underlying blockchains, so there is no need to stake any collateral to secure the protocol. This makes TeleportDAO way more capital-efficient than other solutions.
