Position of the Orion protocol in network security (BE SAFU) | by Samuel Olapade | March 2022
It is important to know that the trustless nature of cryptocurrencies and the blockchain technology that we are seeing has led to a change in the digital world. What do I mean by this statement? Have you taken a moment to check out how executing transactions through small programs called smart contracts is made possible when you consider cryptocurrencies like BNB and ETH with countless new apps using these assets for their transactions? As the growth of DeFi increases daily because this ecosystem is revolutionizing traditional financial services by basing them on decentralized infrastructure, building a platform with maximum security is very important.
Let’s see through the position of the Orion protocol in network security
As DeFi applications allow users to interact without losing their wallet key, there are nevertheless records of hacking in some protocols and the project has lost all assets. Early January 2022, launch of the Orion protocol deep divea bridge that allows users to exchange native assets on different blockchains, a bridge that allows users to exchange native assets on different blockchains without limits, delays, refused orders, blocked funds or Exploits.
Bridge in DeFi mostly depends on centralized entities and validators, you trade with a counterparty. Orion Protocol, with a record of different exploits in the crypto space, has provided a platform that protects users from exploits and allows them to not lose ownership of their tokens until they receive the token correspondent on the network of their choice.
The unique features of true cross-chain and cross-exchange liquidity aggregation that Orion enabled to become a product to be reckoned with in the crypto space as the first step to market-wide interoperability.
March 2022 has been a great month for the Orion Protocol team as they work with the security company to collaborate with them and make the crypto/blockchain space a safer arena for crypto users and enthusiasts.
Welcome Orion CEO Alexei Koloskov to the Lossless Security Committee as an Orion protocol partner with lossless to build a secure future for DeFi.
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When it comes to the Orion Protocol, fingers are crossed on what the team is up to in the future. With a clear understanding of the project as a single entry point to the crypto market, the team will always introduce a better way to serve its user and protect the crypto/blockchain space.
You can read more about the entire ecosystem to clearly see Orion Protocol’s vision and mission statement.
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