With our MVP getting closer each week we thought we’d look at some of the issues around bridges once more. This is a topic that most commonly hits the headlines when an exploit has been used to drain funds locked within the bridge, so the more our community understands the concept, the more informed decisions they can make.

As previously explained a bridge is a part of blockchain technology that allows otherwise incompatible chains to transfer tokens between each other. This is usually done through a swap mechanism of some form where the native tokens are locked within a smart contract and their equivalent counterparts are issued on another chain.

In general, bridges are therefore only as safe to use as their smart contract. If there’s a flaw or weakness in the contract it can be exploited. Since there’s usually a high value locked in such contracts from many different users one exploit can yield devastating results.

If the vulnerability of bridges is considered in this context then naturally the question arises whether all smart contracts are at risk of exploitation. The answer to this is yes, which is precisely why we never rush our internal quality assurance testing and external audits. Our approach to bridges will follow the same rationale.

As Simon, our CTO explains, “Unfortunately nothing in cyberspace is 100% secure. However, we will make sure to use official bridges developed by the core team of a blockchain wherever possible. For example, the Arbitrum team offers their own bridge that is a fundamental part of their ecosystem.”

Security is paramount to the ethos of Paribus. Given that we’re a DeFi platform we are acutely aware of the trust involved when people choose to use our platform. When exploits occur they often drain hundreds of millions of dollars from the people involved which is a staggering sum. That equates to tens of thousands of people losing significant sums, which is why we always adopt a steady and cautious approach.

When developing an effective product security also has to take into account, but not be compromised, by other factors. As Deniz, our CEO says, “Although security wasn’t the only reason we chose Arbitrum, it was part of the main three deciding factors. These factors come down to scalability, security, and ease of use relative to other solutions.”

We empathize with the eagerness we often hear from our community about adopting different bridges or transitioning to a Cardano Native Token. Just like everyone else, we always wince when thinking about gas fees on Ethereum. That’s why we’re working hard to continually test and develop methods that will help us achieve all these goals.

We’re often asked which bridge we’ll use and Wilson, our COO explains, “We haven’t made a specific choice yet as we are still internally testing which will deliver the best results for our platform. However, the bridge we are going to use will be a 2-way bridge in order to support our cross-chain strategy.”

How that bridge will be integrated into Paribus or operate alongside it is further detailed by Simon, “The MVP won’t directly include a bridge in the interface or smart contracts but bridge technology will be important for our cross-chain development. Allowing individuals to transfer tokens to different chains will be key to a truly open cryptocurrency market.”

In this world of seemingly endless possibilities, a new product or technology appears almost every week. Our attitude is to take a measured approach that errs on the side of caution, which is why we’re releasing the MVP on Arbitrum. This approach may not be as fast-paced as some would like but it gives us the safest, most effective route to launch.

As Deniz says, “There aren’t any specific technical challenges to implement on Arbitrum over Ethereum. With the large number of experienced Solidity developers on our team, it is a task they are more than capable of completing.”