The “Trillion Dollar Security Initiative” aims to address the problems of legacy systems and support Ethereum developers.
The Ethereum Foundation has launched a security initiative aimed at supporting the broader adoption of on-chain technologies, according to an announcement on May 14. This effort is part of an ongoing push to strengthen Ethereum's role in programmable crypto-assets.
Fredrik Svantes, head of protocol security research, and Josh Stark, from the management team of the Ethereum Foundation, will be the first co-chairs of the initiative. Three contributors from the Ethereum ecosystem —samczsun, Medhi Zerouali, and Zach Obront— will help guide the project.
Called the One Trillion Dollar Security Initiative, the effort seeks to analyze, enhance, and communicate to Ethereum developers areas where security can be improved, including user experience, wallet security, smart contract security, and infrastructure.
According to DefiLlama, Ethereum remains the leading ecosystem for decentralized finance (DeFi), having maintained between 50-60% of the total value locked across all blockchains since May 2022. The total value locked in the network is nearly $80 billion as of May 14.
