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Why TeleportDAO?
Don't trust validators
TeleportDAO is the most secure, decentralized, and capital-efficient bridge.
The most important aspect of a blockchain bridge is security. Users using secure blockchains and secure dApps don't want to risk their assets or data when moving them around in different blockchains. They want to maintain the security they had on the original chain. TeleportDAO enables this by directly connecting different blockchains together without the need to add a new layer of validators (~ oracles) to the bridge.
Using validators adds vulnerability to the system. They can get hacked, or they might collude to act maliciously (e.g. submit invalid data) as they are way more centralized than huge blockchains committees. Instead, TeleportDAO implements the light client of the source chain on the target chain to verify the correctness of cross-chain data using the smart contract.
The main value proposed by blockchains is decentralization, so it doesn't make sense to connect them using centralized solutions. TeleportDAO is a fully-decentralized bridge where anyone can move data between the connected chains without any permission. This is not true for the validator-based bridges where the validators committee can censor users' cross-chain requests.
In validator-based bridges, the security of the protocol is tight to the total staked collateral of validators. So for example, if such a bridge wants to move $1B from the source chain to the target chain, the validator committee should stake at least $1B. In TeleportDAO, the security of the protocol is tight to the security of the underlying blockchains, so there is no need to stake any collateral to secure the protocol. This makes TeleportDAO way more capital-efficient than other solutions.
Last modified 1yr ago