Trusted Bridges are part of Web 2.0 or Defi 1.0 and we need to move beyond them

Leobridge

I read an article by @shortsegments today about LeoBridge, which is a software construct which transfers the value of your investment assets from ethereum to HIve to Binance Smart Chain, and vice versa or the reverse. Soon it will also coonnect Ethereum and Binance Smart Chain to Polygon. @shortsegments article is full of praise for LeoBridge, and I think it was well written and his thesis was well supported.

But I think he is close to being a Leofinance Maximalist and while I have no qualms with Leofinaince or Cubfinance, I feel we need to remember Leobridge is a trusted bridge, meaning you give up cryptographic key protection of your assets to move them from Ethereum to Binance Smart Chain, and to Polygon eventually, SOON :). It is a trusted solution to a cross chain trading problem, which should be handled in a trusted fashion preserving cryptographic security over your tokens, but this is rare, for now.

While I understand the need to praise this useful tool, and it's simplicity of operation, we must not forget we are moving to cryptocurrency and decentralization to escape trusted systems where we give up control of our assets to cryptocurrency so we can be our own bank and control our assets.

Thorchain is pursuing the ultimate goal of trustless, decentralized finance. Lets keep our ee on the prize and tone down the praise for trusted and centralized solutions.

Sorry, but not sorry, I am sure @shortsegments will understand, he wrote about trusted and trusless solutions to the bridge hack problems recently and he spoke the truth regarding cryptographic protection of assets, decentralization and trustlessness.