Vitalik Buterin at EthCC: Here’s How to Tell if a Crypto Project is Hack-proof and Decentralized!
Jakarta, Pintu News – At the Ethereum Community Conference (EthCC) conference, Vitalik Buterin, co-founder of Ethereum , shared some important methods for assessing the security and decentralization of companies in the crypto space.
Buterin emphasized the importance of ensuring that users’ assets remain secure and that the systems used are not easily compromised, either by internal or external parties.
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Asset Security Test: Walkaway Test
Vitalik Buterin introduced the “walkaway test” as a way to evaluate whether users’ assets would remain safe if the company and all its servers suddenly disappeared. The main advantage of a blockchain-based system is that users’ assets are not stored on a single server, but are instead spread across a decentralized network.
This significantly increases the security of users’ assets. For example, Buterin points to “privvy embedded wallets” that allow users to export their keys to other wallets, thus not being tied to a single provider.
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Insider Attack Test: Insider Attack Test
Buterin also proposed an “insider attack test”, which aims to assess how much damage could be done if there was an attack from within, such as by the company’s own employees or founders.
This test is important to understand how resilient the security system is in protecting assets from internal threats. By understanding the potential damage that could occur, companies can take better preventive measures and improve their security systems.
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Trusted Computing Base Test: Trusted Computing Base Test
Furthermore, Buterin suggested considering the “trusted computing base test”, which asks how many lines of code a user can trust not to cheat.
The fewer lines of code that must be trusted, the more secure the system is. Buterin emphasizes the importance of transparency and lack of trust as the keys to a secure system. Reducing the amount of code that must be trusted also reduces the risk of possible failure or manipulation.
Conclusion
Buterin cautioned that even though protocols are designed for decentralization and neutrality, they can still end up being centralized if they push convenience through a centralized solution.
Without a good decentralized backup solution, users tend to turn to centralized providers for convenience, which ultimately eliminates the benefits of decentralization. Therefore, it is imperative that developers and users continue to encourage and support truly decentralized solutions.
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Reference
- Crypto News. EthCC: Vitalik Buterin Lays Out Ways to Test If a Crypto Firm Is Hack-Proof and Decentralized. Accessed on July 3, 2025
- Featured Image: CNBC
