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Ethereum Foundation Announces Trillion-Dollar Security Initiative

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On May 14, the Ethereum Foundation announced the “Trillion Dollar Security Initiative” with the ambition of making Ethereum “civilization-scale infrastructure that securely underpins the internet and global economy.”

The core goal is to upgrade Ethereum’s security to a level where billions of individuals would feel comfortable storing more than $1,000 each on the network, which would collectively equate to trillions of dollars.

It also aims to ensure organizations are comfortable storing over $1 trillion in a single contract or application on Ethereum.

Surpassing World’s Legacy Systems

The initiative has a three-part approach, which begins with security landscape mapping. This creates a comprehensive overview of security strengths and vulnerabilities across all layers of Ethereum’s technology stack.

There are also targeted improvements, such as implementing high-priority fixes and investing in longer-term enhancement projects. Finally, better communication will make Ethereum’s security standards more understandable and comparable to other systems.

The project’s co-chairs are Fredrik Svantes, protocol security lead, and Josh Stark from the Ethereum Foundation management team.

Ecosystem stewards are samczsun, founder of Security Alliance (SEAL) and security advisor at Paradigm, Mehdi Zerouali, co-founder of Sigma Prime, and Zach Obront, co-founder of Etherealize.

The initiative is seeking broad ecosystem participation through a feedback form and is open to in-depth discussions with stakeholders.

This project represents Ethereum positioning itself not just as the most secure blockchain, but aspiring to become truly “civilization-scale” infrastructure with security that surpasses traditional financial systems.

Ethereum already has billions of dollars worth of assets on-chain. It is the industry leader and standard for stablecoins and tokenized real-world assets. There is currently more than $22 billion in RWA tokenized on blockchains, and Ethereum has a commanding market share of 58%, according to rwa.xyz.

ETH Price Outlook

Spot Ether prices have seen a resurgence over the past few weeks following what has been a very bearish year so far. The asset reached its highest level for almost three months on Wednesday when it came just shy of $2,700.

ETH has gained 43% over the past fortnight and was trading down slightly at just below $2,600 during the Thursday morning Asian session.

Investor Ted Pillows predicted that ETH would reach $6,000 by the fourth quarter, with “whales and institutions” driving momentum.

Pranešimas Ethereum Foundation Announces Trillion-Dollar Security Initiative appeared first on CryptoPotato.

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