Ethereum’s lack of native multisig functionality is a ‘security problem’

0
37

Bitcoin startup Casa, has become one of the prominent projects to lead the ecosystem’s goal toward mass adoption. Recently, Casa CTO Jameson Lopp featured in one of the podcasts to discuss the company’s role in improving Bitcoin’s overall security. In this context, Lopp explained how “spreading out the keys” both geographically and digitally reduces the risk of an attack. He said,

“That is really about the best guarantee that you can get in this space. You know, There are no 100% guarantees. It’s all about a probability and a thresholds for the risk.”

Touching on the privacy protection aspect of the platform, Lopp highlighted that the Casa app offers various levels of KYC and AML based upon the user’s choice to share personal data. In addition, the security expert also mentioned that, in most cases, mobile devices are safer than desktops when it comes to Bitcoin’s protection. He attributed this claim to the malicious browser extensions and a predominantly larger attack surface. Staying on topic, Lopp added,

“There’s an inherent (security) problem with Ethereum because they don’t have native multisig functionality.”

Moreover, Lopp mentioned that users have “security posture incentive” behind running a node, which includes them in the strongest security model that Bitcoin has to offer, “a model that is often referred to as trustless.” He added that the Casa node includes a feature called “watchtowers” that help against fraudulent transactions.

WANT TO KNOW MORE? READ FULL ARTICLE ON Ambcrypto

Disclaimer: No copyright infringement intended. The content presented in this article is only as a preview and completely belongs to Ambcrypto. Our site only helps interested users to get to the right content quickly. You can always see the full article here: https://eng.ambcrypto.com/ethereums-lack-of-native-multisig-functionality-is-a-security-problem/

LEAVE A REPLY

Please enter your comment!
Please enter your name here

This site uses Akismet to reduce spam. Learn how your comment data is processed.