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Just now, someone asked, "Who do you really trust for cross-chain?"
My first reaction wasn't about how big the bridge's logo is, but rather about how many points in this IBC/message passing chain could fail...
To put it simply, you're not just trusting one chain.
You need to trust that both sides of the chain won't act up, and also trust that light clients/validator sets can stay online, that relayers won't get stuck on your messages, that the channel and timeout parameters aren't set incorrectly by you, and even that the counterparty's smart contract doesn't have strange logic to lock up your funds.
When it comes to bridges, it's even more intense—adding custodians/multisigs/oracles/signature services—these "human" components, and usually, a failure is caused by a loose link somewhere.
Recently, funding rates are extremely volatile again, and in the group, people are arguing whether to reverse or keep pumping the bubble.
I'm actually more cautious: the more these times, the more people want to cross-chain to chase opportunities.
But if the bridge gets blocked or messages are delayed, emotions just explode...
Now, I prefer to move less, but first go over the few components I trust in my mind, or I really can't sleep.