The Ethereum Foundation announced the "Trillion Dollar Security" (1TS) initiative, an ambitious effort to enhance the security of Ethereum to support trillions of dollars in on-chain value. This initiative is part of Ethereum's efforts to strengthen its security and expand its use in the global economy.
The 1TS initiative aims to improve the infrastructure of Ethereum for both individual users and institutions. The initiative will follow a three-phase process that includes mapping security vulnerabilities, implementing improvements, and communicating progress. The first phase will assess Ethereum's technology stack.
To identify vulnerabilities and strengths.
The initiative will enhance how Ethereum communicates its security posture to users and institutions, making it easier for stakeholders to assess the platform's defenses compared to other networks and traditional systems. The initiative will be jointly led by Fredrik Svantes, Protocol Security Lead at the Ethereum Foundation, and Josh Stark from the Foundation's management team.
The initiative aims to position Ethereum as a network capable of securing trillions of dollars in assets for individuals and institutions. According to the foundation, the future of Ethereum requires expanding security to a point where billions of users can safely store $1,000 on-chain.
This step is part of Ethereum's ongoing efforts to enhance the use of stablecoins in everyday transactions, reflecting the company's commitment to expanding the use of digital currencies in the global economy.