Express
bZx Decides To Adopt Chainlink’s Decentralized Oracle Networks As Basis For Its New Price Oracles
Summary: In light of the recent attacks surrounding the bZx protocol, the bZx team has worked closely with the Chainlink team to identify vulnerabilities and prevent the recurrence of the price oracle attack on February 18, 2020, in which a user used a flash loan to manipulate an illiquid on-chain oracle far beyond the true market ...
In light of the recent attacks surrounding the bZx protocol, the bZx team has worked closely with the Chainlink team to identify vulnerabilities and prevent the recurrence of the price oracle attack on February 18, 2020, in which a user used a flash loan to manipulate an illiquid on-chain oracle far beyond the true market price to gain a major advantage on his bZx margin position.
The bZx team has decided to quickly adopt Chainlink’s decentralized oracle networks as the basis for their new price oracles over the long term, allowing each of their critical price feeds to be secured by numerous independent nodes.
“This eliminates any attack vector that can be easily exploited by vastly increasing the amount of capital and multi-party coordination needed to carry out any future attacks,” the team said.
Tracy Chen
Tags: bZx,Oracle
Link: bZx Decides To Adopt Chainlink’s Decentralized Oracle Networks As Basis For Its New Price Oracles [Copy]
