June 21 (Cointime) - According to Chainanalysis, bridge attacks accounted for 69% of all cryptocurrency stolen in 2022, with over $2 billion siphoned from buggy cross-chain bridge platforms. As a solution, some blockchain developers, like the Ethereum layer 2 network Starknet, are turning to “storage proofs” to enable “trustless” cross-chain bridges, using cryptography to eliminate the need for third-party “oracles” to track assets between chains.

Storage proofs allow users to “prove” that certain data, transactions or assets on a blockchain are true or valid, without relying on a third party. Starkware is betting that rising demand for cross-chain transfers will soon bring storage proofs to more platforms, and they will be the first network to have storage proofs natively integrated, after it goes through a security audit later this year.