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Bedrock Integrates Chainlink Proof of Reserve To Natively Secure Minting Function

Twitter icon  •  Published för 1 månad sedan  •  Hassan Maishera

Chainlink announced via X on Friday that Bedrock is integrating the Chainlink Proof of Reserve (PoR) to help secure their minting function and fortify the security of their protocol.

Chainlink announced via X on Friday that Bedrock is integrating the Chainlink Proof of Reserve (PoR) to help secure their minting function and fortify the security of their protocol.

The integration comes hours after Bedrock’s $2 million exploit involving their uniBTC asset. Chainlink Proof of Reserve will provide Bedrock with automated and verifiable onchain checks to help ensure the correct backing of reserves, preventing the kind of exploit we experienced today. These transparent verifications, conducted in real-time, will help guarantee that funds remain fully collateralized and protected against manipulation or mishandling.

Chainlink Network (LINK) aims to provide tamper-proof inputs and outputs of data for smart contracts on any blockchain. LINK is down 3% over the past 24 hours and is trading at $12.27 at press time.

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Author

Hassan Maishera

Hassan is a Nigeria-based financial content creator that has invested in many different blockchain projects, including Bitcoin, Ether, Stellar Lumens, Cardano, VeChain and Solana. He currently works as a financial markets and cryptocurrency writer and has contributed to a large number of the leading FX, stock and cryptocurrency blogs in the world.