Ethereum has finally installed a “Trillion Dollar Security”. It is the name of their latest security mechanism that came in recently. The news flew in from ETH’s source on May 14th.
With this additional security layer, more entities can now take advantage of their on-chain domain. According to Fredrick Svantes, ETH’s security protocol head, the network security protocol can now support millions and billions of users. Most interestingly, the on-chain can now enable users to store at least $1000.
The “Trillion Dollar Security” coinage means that coins can now reflect the storage of a trillion dollars of value under a single application from companies, governments, and institutions.
The Line of Execution
ETH is reportedly now the most commercialized blockchain in the world. Their new initiative has three important parts: mapping, execution, and communication.
In the first step, the ETH developers would map the usual attack vendors and the existing security systems across every layer in the ETH security network.
The mapping procedure will also cover domains like UX, wallet security, and infrastructure provisions.
Therefore, ETH will be able to detect the areas that need special attention. Thus, the developers would implement near-term high-priority fixes. In this second step, ETH will develop a budget for the longer-term improvement activities. The funds will also be allocated accordingly!
In the third and final stage, the foundation planning informs all ETH users of the platform’s security foundations. Anyone comparing ETH’s security standards against others can decipher the prime benefits of the legacy systems that the world’s biggest blockchain comes with!
