CEO Psy explains the importance of cross-chain bridges after launching Solana Bridge from Unreliable Dogcoin.
Cross-chain bridges play a key role in blockchain interoperability. However, while contributing to the integration of cryptographic ecosystems, they are also a major source of vulnerability. In an interview with Crypto.News, PSY CEO and founder Carter Feldman explained their importance.
In particular, PSY launched its first unreliable bridge from Dogecoin (Doge) to Solana (Sol) on Thursday, May 22nd. Bridges are unreliable and avoid some of the risks and pitfalls that have caused major exploits in the past.
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Crypto.News: Cross-chain bridges were the main source of hacks and exploits. Why is this bridge from Dogecoin to Solana safer?
Carter Feldman: Unlike traditional bridges that rely on multi-sig signers and centralized managers, our bridge directly validates evidence of Dogecoin's work in Solana. Capture and verify each Dogecoin block header in Solana. This includes transaction consensus data and the Merkle route. This means that Solana can encrypt the state of Dogecoin without trusting its intermediary.
CN: Have you decided to bridge Dogecoin to Solana?
CF: Essentially, we believe in bringing the security of our work proof to the secret proof chain. The bridge shows that proof of work and programmable blockchains can work together without sacrificing security.
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The Dogecoin Work Proof Consensus provides security that cannot be replicated in a standard system of proof. Unlike POS, which relies on tokens in the same system that are secured, Dogecoin's work proof locks security into external physical resources. This creates objective security barriers that are resistant to governance attacks and token manipulation, providing true censorship resistance and decentralization where POS simply cannot match.
CN: Why didn't anyone build a dogcoin bridge that could not be trusted before? What has changed?
CF: It comes down to technical capabilities. Zero-knowledge Proof Technology has recently matured to the point where it became feasible to validate the proof chain of work like Dogecoin on other blockchains. No one built the basic tools needed to make this work well. Furthermore, our team has a unique technical background in both the work and the zero knowledge system needed to make this vision a reality.
CN: What does this bridge mean for the Dogecoin and Solana ecosystems in terms of growth and potential synergy?
CF: In my view, it's a great opportunity for both ecosystems. Dogecoin owners now have access to Solana's Defi, NFT and gaming applications without selling Doge. At the same time, Solana developers can take advantage of Dogecoin's large user base and liquidity. This should create a flywheel effect. We hope that activity will increase in both networks as more dogcoin users discover Solana's features.
CN: Which other chains are not yet connected, where would a bridge like this have a major impact?
CF: Needless to say, the largest trusted Bitcoin Bridge is certainly a North Star. Fortunately, much of the work you've done for Dogecoin can be reused for the demonstration ecosystem of Bitcoin, Litecoin, and other jobs. Please look forward to this aspect sooner!
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