The co-founder of privacy-focussed Ethereum sidechain Gnosis, Martin Köppelmann, has proposed plans to reduce external dependencies and increase the security of GNO tokens on Ethereum and Gnosis.

In a preliminary discussion on the Gnosis governance forums, Köppelmann said that while GNO was initially minted on Ethereum, the GNO tokens comes from a bridge contract and represent a claim against GNO on Ethereum – which may open up potential security issues for the tokens if “unexpected events could lead to a difference between the two.”

Köppelmann cited bridge risks as a key factor in his proposal. “Currently, the bridge has the right to mint unlimited GNO tokens on Gnosis,” he wrote. “Of course, it is only supposed to mint GNO tokens on Gnosis if an equivalent amount has been locked on Ethereum (and that should be limited), but bridges are unfortunately still a potential source of hacks and bugs and thus are a risk.”

(By Shaurya Malwa)

Get the latest news here: Cointime channel — https://t.me/cointime_en