Ethereum Foundation unveils security initiative to supplant legacy systems
The Ethereum Foundation has launched the Trillion Dollar Security Initiative to enhance the security of onchain technologies and support Ethereum's role in programmable digital assets. Fredrik Svantes and Josh Stark will co-chair the initiative, with contributions from samczsun, Medhi Zerouali, and Zach Obront. The initiative aims to analyze and improve security in user experience, wallet security, smart contracts, and infrastructure. Ethereum remains the leading ecosystem for decentralized finance (DeFi), holding 50-60% of total value locked across all blockchains, with a TVL of nearly $80 billion. The Foundation emphasizes the importance of ecosystem support for achieving security goals. Additionally, the Pectra upgrade has improved Ethereum's functionality, resulting in a 43% increase in ETH price since May 7.
