Cosmos is leading the way in blockchain security with the implementation of the Inter-Blockchain Communication (IBC) protocol and its crucial component, IBC Rate Limits. These limits are essential for safeguarding real economic activity and total value locked (TVL) within the blockchain ecosystem.
The adoption of IBC Rate Limits is becoming a standard practice for blockchains securing real economic activity, both within the #interchain and beyond. Range Security is playing a key role in elevating cross-chain security to new heights, as highlighted by Cosmos in a recent tweet.
In response to the growing importance of security measures in the expanding blockchain industry, Cosmos has emphasized the urgent need for the adoption of IBC Rate Limits. These limits, pioneered by Osmosis, provide a simple yet effective solution to protect blockchains from security exploits.
Range Security, in collaboration with teams like Osmosis and Stride, is working to enhance the security of the interchain ecosystem. Their efforts include the development of risk management tools like the IBC dashboard and the upcoming release of IBC Rate Limits v2.
Following the critical Dragonberry vulnerability incident in the interchain history, the introduction of IBC Rate Limits has become crucial for enhanced protection. These limits work by setting thresholds for asset transfers within specific time periods, effectively reducing the potential impact of security breaches.
The current version, IBC Rate Limits v1, has already proven effective in safeguarding economic value on blockchains such as Osmosis. Looking ahead, Range Security and Osmosis are preparing to launch IBC Rate Limits v2 to further enhance cross-chain security.
Tags: ATOM
Source: https://twitter.com/cosmos/status/1400246816318315522