RE: Ask Me Anything - Marky Edition - May 2021

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one more question, and thanks for answering the other questions.

I have often wondered, on cross chain bridges, like binance, and hive engine, what are the controls to stop either binance or hive engine intervening mid way through a transfer and potentially stealing money? I trust both these organisations, so I don't mind using their services, but when I think about it essentially aren't we just depositing cyrpto in their account, and they are sending a different crypto from their account back to you.

I had a very nervous 8 hours to wait on the binance bridge one day, moving from EOS, to BEP20 EOS, and it was a largish sum of money.

Whilst I know reputation is a pretty powerful thing, and once there is one incident other people wont use the service, but surely there is a technology that can address this, some sort of escrow service, or would smart contracts help with that? so whilst most organizations setting these things up are reputable and trustworthy, wouldn't it be better to have something that is trustless? and why haven't we done it on hive? is it technology limitations? or maybe it exists, and my understanding is just wrong.



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I have often wondered, on cross chain bridges, like binance, and hive engine, what are the controls to stop either binance or hive engine intervening mid way through a transfer and potentially stealing money? I trust both these organisations, so I don't mind using their services, but when I think about it essentially aren't we just depositing cyrpto in their account, and they are sending a different crypto from their account back to you.

Usually a smart contract that is open sourced and audited.

It is truly the wild west, exchanges are no more trust worthy than a random bagger at your local grocery store.

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