You want to stop getting hacked? Kill instant settlement. It’s just not worth it. Every exchange and protocol should add mandatory withdrawal delays. People will hate it. People might dunk on me for saying this, but these people don’t care about you or the safety of your funds. At what point
The author argues that exchanges and protocols should implement mandatory withdrawal delays to prevent hacks, and sends love to the Ostium team.
You want to stop getting hacked? Kill instant settlement. It’s just not worth it. Every exchange and protocol should add mandatory withdrawal delays. People will hate it. People might dunk on me for saying this, but these people don’t care about you or the safety of your funds. At what point
You give me ANY custody system and if is IMMEDIATELY more secure with a withdrawal delay than without it. There are no exceptions.
You give me ANY custody system and it is IMMEDIATELY more secure with a withdrawal delay than without it. There are no exceptions.
I strongly agree. Instant settlement is a bug, not a feature. The reality is that we want protections against bugs, hacks, attacks, mistakes, stealing, etc. That protection looks like a time delay + a check. Only a matter of time before everyone moves to this model.
You want to stop getting hacked? Kill instant settlement. It’s just not worth it. Every exchange and protocol should add mandatory withdrawal delays. People will hate it. People might dunk on me for saying this, but these people don’t care about you or the safety of your funds. At what point