Ethereum Authority Unveils Secureness Project with a Whopping $1 Trillion Budget
The Ethereum Foundation Unleashes the Trillion Dollar Security Mission
On May 14, the Ethereum Foundation announced its ambitious "Trillion Dollar Security Initiative", with the goal of making Ethereum "the bedrock infrastructure powering the internet and global economy".
The key objective is to elevate Ethereum's security to a level where ordinary people will feel comfortable storing more than $1,000 on the network, amassing trillions of dollars collectively. It also targets ensuring businesses and organizations feel safe storing over $1 trillion in a single contract or app on Ethereum.
Outpacing Legacy Systems
The initiative presents a three-pronged strategy, initiating with a security risk landscape mapping. This analysis provides a detailed overview of the strengths and vulnerabilities across the platform's various layers.
There are targeted improvements in the offing, such as timely fixes of high-priority issues and investment in long-term enhancement projects. Additionally, enhanced communication will make Ethereum's security standards easier to comprehend and compare with other systems.
The initiative's co-chairs are Fredrik Svantes, Ethereum's protocol security lead, and Josh Stark from the Ethereum Foundation's management team. Notable community stewards include samczsun, Mehdi Zerouali, and Zach Obront.
The initiative invites broad ecosystem participation through a feedback form and open discussions with stakeholders. This project represents Ethereum's aspiration to be more than just the most secure blockchain, but truly "civilization-scale" infrastructure with security surpassing traditional financial systems.
Ethereum already boasts billions of dollars worth of assets on the blockchain. It's the leading platform for stablecoins and tokenized real-world assets. Over $22 billion in RWA is tokenized on blockchains, with Ethereum controlling a whopping 58% of the market, according to rwa.xyz.
ETH Price Predictions
Ether prices have witnessed a rebound in recent weeks, following a gloomy year thus far. On Wednesday, ETH reached its highest level in nearly three months, coming close to $2,700. ETH has surged by 43% over the past fortnight, trading slightly below $2,600 during the Thursday morning Asian session.
Investor Ted Pillows predicted that ETH could reach $6,000 by the end of the year, fueled by the involvement of "whales and institutions".
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- This three-pronged strategy by the Ethereum Foundation's Trillion Dollar Security Initiative involves mapping the security risk landscape, addressing high-priority issues, and improving communication to make Ethereum's security more understandable and competitive compared to other systems.
- Fredrik Svantes and Josh Stark, key members of the Ethereum Foundation, are serving as co-chairs for the initiative, while community stewards such as samczsun, Mehdi Zerouali, and Zach Obront are also playing significant roles.
- With its enhanced security measures, Ethereum aspires to transform beyond being the most secure blockchain, to becoming civilization-scale infrastructure that surpasses traditional financial systems, given its current dominance in the market with billions of dollars worth of assets.
