Bridge Hacks- Blockchain’s biggest vulnerability

When you buy a product from a private institution, you do not have access to full information. Social media companies or internet search engines don’t reveal their algorithms, pharma companies don’t reveal complete test data, and Coca-Cola’s signature drink, KFC's spice blend, and Mcdonald's sauce recipes are all secret.

When dealing with smart contracts on public blockchains things are very different. All the information is fully available to you. The contracts are fully public.

But having access to information is not the same as having information. What I mean by that is that the contracts might be available to all to read but they’re not intelligible to most. And those who actually understand the code are in a position to exploit those who don’t.

The immutability of smart contracts is both good and bad

The clear advantage of smart contracts on public blockchains is that the contract cannot change post facto, i.e. an insider or privileged participant cannot change the contract as it suits them behind the scenes. But what if the contract was already flawed and you participated without realizing it? Participating in the contract means that you agree with the rules that the contract will strictly adhere to. If you participated without fully…