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analysis-of-security-model.md

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Overview

Before we dive into why Electron Protocol is "decentralized/trustless". Let us define what we mean by a "trust-less" bridge.

What do we mean by trust-less bridging?

Trustless has following components - Security, Permisionless, Censorship resistant, Non-Custodial

  1. What do we mean by security?
    1. Private keys leaking (the bridge operators leak their private keys to the attacker)
    2. Bugs and implementation errors (this can only be solved over time with battle testing)
  2. What do we mean by Permission-less and Censorship resistance?
    1. Can the bridging company restrict developer/protocol activity or their ability to access cross-chain? Can I be denied access?
  3. What is non-custodial?
    1. Is the bridge operator company in control of my assets?

Video explainer -

{% embed url="https://www.youtube.com/watch?v=IRHat-LN_vQ" %}