The Ethereum Foundation unveiled a new “trillion dollar” initiative to elevate Ethereum’s security standards to meet the demands of a global, trillion-dollar-scale financial network. The so-called “Trillion Dollar Security” initiative outlines a three-part strategy to assess and reinforce the blockchain’s infrastructure.
While the Ethereum blockchain secures over $63 billion worth of assets, the foundation said further steps are needed to prepare the network for broader economic integration and ultimately surpass security guarantees offered by legacy financial infrastructure.
“Being the most secure platform in the crypto ecosystem isn’t enough,” the foundation wrote in a blog post on Wednesday. “Ethereum’s ambition is far greater: to be civilization-scale infrastructure that securely underpins the internet and global economy, surpassing the safety and trustworthiness of the world’s legacy systems.”
1TS will begin by publishing a comprehensive security overview and analyzing Ethereum’s strengths and vulnerabilities. The plan also prioritizes patching high-risk attack vectors and improving information sharing of security best practices across the ecosystem.
According to the announcement, EF Protocol Security Lead Fredrik Svantes and Josh Stark from the EF management team will co-chair the effort. Additionally, 1TS will feature three ecosystem stewards, including SEAL 911 co-founder Samczsun, Sigma Prime co-founder Mehdi Zerouali, and Etherealize co-founder Zach Obront.
The Trillion Dollar Security plan comes weeks after the EF and Ethereum co-founder Vitalik Buterin, outlined a new board structure for the organization to maintain its cypherpunk values while onboarding new users and scaling DeFi’s largest network by total value locked.
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