Ethereum Raises Protocol Security to Institutional Level

The Ethereum Foundation launched an initiative aimed at creating a secure environment to safeguard trillions of dollars. The project will cover the entire technology stack of the ecosystem, including the core protocol, smart contracts, and user interfaces.

The Ethereum Foundation officially announced the Trillion Dollar Security (1TS) initiative, a comprehensive program designed to enhance the security level of the Ethereum ecosystem. The initiative aims to achieve a trust level at which billions of users can safely store over $1,000 on the Ethereum network, while institutional players can securely hold more than $1 trillion within a single application or smart contract.

The initiative includes three key areas:

1. Comprehensive ecosystem audit. Creating a threat and strength map across the entire Ethereum technology chain. The analysis will cover frontend, wallet security, smart contracts, cloud infrastructure, potential failure points, consensus layer including centralization risks, vulnerabilities at the DNS infrastructure level, and other possible attack vectors.
2. Implementation of priority improvements. Executing short-term fixes and investing in long-term projects aimed at eliminating vulnerabilities identified during the audit.
3. Enhancing transparency. Disseminating information about Ethereum security standards to users and the professional community to increase trust and facilitate comparative analysis with other blockchains and traditional systems.

The project is led by Fredrik Svantes, Protocol Security Lead, and Josh Stark, the Ethereum Foundation’s Management Team. Key participants include:

• Mehdi Zerouali, Co-Founder and Director of Sigma Prime;
• Zach Obront, Co-Founder of Etherealize and Lead Developer of OP Succinct;
• samczsun, Founder of Security Alliance (SEAL), and many other blockchain security experts.

Additionally, the Ethereum Foundation invites all interested ecosystem participants to collaborate within the 1TS initiative, from independent devs to companies specializing in security audits.

A week earlier, Vitalik Buterin, Ethereum Co-Founder, announced a plan for a major simplification of the blockchain network’s base layer architecture, scheduled through 2030.