Decentralized Identity Recognition for Security Protection in Cross-Chain Bridge

[87jerry]

Summary

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Cross-chain bridge smart contracts, which hold a large amount of assets, are easy targets for hackers. Due to the anonymity of blockchain, it is difficult to trace the puppeteer behind the scenes. However, through self-sovereign identity, we can identify the identity of the smart contract caller through decentralized identity recognition. Decentralized identity recognition can authenticate one’s identity to others while protecting user privacy, achieving a balance between anonymity and traceability.

Description

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In the rapidly evolving landscape of blockchain technology, the security and integrity of decentralized applications have become paramount. This topic delves into the intricate world of smart contracts, particularly focusing on cross-chain bridge contracts that hold substantial assets and are consequently prime targets for hackers. The inherent anonymity of blockchain poses challenges in tracing illicit activities. To address this, I explore the concept of self-sovereign identity and its role in identifying the callers of smart contracts through decentralized identity recognition.
This topic presents an implementation of this concept, further investigating the diverse applications and use cases of decentralized identity recognition. I discuss how this technology can authenticate identities while preserving user privacy, striking a balance between anonymity and traceability.

Source

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SoK: Not Quite Water Under the Bridge: Review of Cross-Chain Bridge Hacks
Service Applicable Blockchain-based Self-Sovereign Identity Management System

Others

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Briefly, I studied a cross-chain bridge vulnerability and proposed a new idea to use the Self-Sovereign Identity management system to solve the anonymous and untraceable problem of the blockchain.