Last year I had a hot wallet drained by a malicious social exploit. A Phylax assertion to block large unauthorized transactions would have protected my on-chain capital. The…
Original source excerpt
Last year I had a hot wallet drained by a malicious social exploit. A Phylax assertion to block large unauthorized transactions would have protected my on-chain capital. The problem of on-chain secur…
Last year I had a hot wallet drained by a malicious social exploit. A Phylax assertion to block large unauthorized transactions would have protected my on-chain capital. The problem of on-chain security is very close to heart for me and I want to help ensure no one has to go through what I want through. The mission of Phylax is to protect on-chain capital and this means both at the protocol level and the user level as it relates to wallets. The goal is to protect capital at every layer of the stack and if we do that then Institutions will feel much more comfortable deploying capital on-chain. Security is our biggest problem we face and to date has largely been neglected. Our current security paradigms are simply not sufficient in an environment of instant transaction finality. On-chain circuit breakers is the solution. If anyone is interested in this please reach out and I am happy to introduce to the Phylax team.
AI context is not available for this statement. The original source can be read independently.