#EthereumSecurityInitiative
The Ethereum Foundation launched a security initiative aimed at supporting the broader adoption of on-chain technologies, according to an announcement on May 14. The effort is part of an ongoing initiative to strengthen Ethereum's role in programmable digital assets.
Fredrik Svantes, research lead in protocol security, and Josh Stark, from the management team of the Ethereum Foundation, will be the initial co-chairs of the initiative. Three contributors from the Ethereum ecosystem — samczsun, Medhi Zerouali, and Zach Obront — will help guide the project.
Called the Trillion Dollar Security Initiative, the initiative aims to analyze, improve, and communicate to Ethereum developers areas where security can be enhanced, including user experience, wallet security, smart contract security, and infrastructure.
According to DefiLlama, Ethereum remains the leading ecosystem for decentralized finance (DeFi), having held between 50-60% of the total value locked across all blockchains since May 2022. The network's TVL was nearly US$5,566,695,306,480 on May 14.
Blockchains by total value locked. Source: DefiLlama
“Achieving Trillion Dollar Security is only possible with the support of the broad Ethereum ecosystem,” stated the Foundation in a statement. “Billions of people feel comfortable storing over US$5,566,695,306.41 on-chain, totaling trillions of dollars secured on Ethereum,” it added.
