Unchained

Circuit Breakers: Is ERC-7265 the Solution dApps Were Waiting For? - Ep. 515

Listen Later

In 2022, crypto crime hit an all-time high. A staggering $3.8 billion in crypto was stolen, with DeFi protocols bearing the brunt of these thefts, accounting for 82% of the total losses. Amid this alarming scenario, has a beacon of hope emerged in ERC-7265? 

The proposal aims to create a 'circuit breaker' safety layer for DeFi contracts, potentially revolutionizing security measures in the crypto space. Could this be the key to bolstering security and paving the way for mass adoption of DeFi? Will it essentially centralize protocols? Tune in to find out.

Listen to the episode on Apple Podcasts, Spotify, Overcast, Podcast Addict, Pocket Casts, Stitcher, Castbox, Google Podcasts, Amazon Music, or on your favorite podcast platform.

Show highlights:

  • what ERC-7265 is meant to do and why they called it a 'circuit breaker’
  • how the idea would actually work on chain
  • how this ERC could make DeFi applications more centralized, rather than decentralized
  • what can be done to prevent small teams from seizing funds
  • how different teams will be able to design the circuit breaker as they want
  • what unsafe arbitrary calls and unprotected flows are
  • why Philippe believes that this proposal will help newer teams improve their security
  • how the ERC can pave the way for a more decentralized protocol 
  • what will it take for protocols to start adopting the new standard
    • Thank you to our sponsors! 
    • Crypto.com
    • Railgun DAO
    • Ondo Finance
    • Arbitrum Foundation
      • Guest
      Philippe Dumonet, Cofounder of DeRegLinks
      • Chainalysis 2022 report
      • The Block: Ethereum community proposes new standard to mitigate DeFi hacks
      • Philippe’s thread on ERC-7265

        • Learn more about your ad choices. Visit megaphone.fm/adchoices

        ...more
        View all episodesView all episodes
        Download on the App Store
        UnchainedBy Laura Shin
        • 4.6
        • 4.6
        • 4.6
        • 4.6
        • 4.6

        4.6

        1,184 ratings

        More shows like Unchained

        View all
        Real Vision: Finance & Investing by Real Vision Podcast Network

        Real Vision: Finance & Investing

        914 Listeners

        CoinDesk Podcast Network by CoinDesk

        CoinDesk Podcast Network

        646 Listeners

        The Breakdown by Blockworks

        The Breakdown

        742 Listeners

        The Pomp Podcast by Anthony Pompliano

        The Pomp Podcast

        1,842 Listeners

        On The Brink with Castle Island by Castle Island Ventures

        On The Brink with Castle Island

        287 Listeners

        What Bitcoin Did by Danny Knowles

        What Bitcoin Did

        267 Listeners

        Markets Outlook by CoinDesk

        Markets Outlook

        137 Listeners

        The Wolf Of All Streets by Scott Melker

        The Wolf Of All Streets

        244 Listeners

        Empire by Blockworks

        Empire

        167 Listeners

        Supply Shock by Blockworks

        Supply Shock

        110 Listeners

        Coin Stories by Natalie Brunell

        Coin Stories

        440 Listeners

        Raoul Pal: The Journey Man by Real Vision Podcast Network

        Raoul Pal: The Journey Man

        137 Listeners

        The Milk Road Show by The Milk Road Show

        The Milk Road Show

        51 Listeners

        web3 with a16z crypto by a16z crypto, Robert Hackett, Sonal Chokshi

        web3 with a16z crypto

        61 Listeners

        Limitless Podcast by Limitless by Bankless

        Limitless Podcast

        66 Listeners