Prioritizing Decentralization, Quickness, or Security: Which Aspect Should Blockchain Prioritize?
The recent CoinFest Asia 2025 in Bali, Indonesia, brought together industry leaders for a thought-provoking discussion on the future developments of blockchain technology. Although the specific names of the panelists remain undisclosed, the consensus on the critical aspects of blockchain technology was clear.
The panelists agreed that shared security is the most crucial aspect of blockchain technology, extending beyond security against smart contract bugs to encompass security between different applications communicating across chains. This consensus is pivotal for achieving trustless interoperability, a key component in the vision of a multichain future.
For developers and founders, the real question might not be which chain to build on, but what trade-offs they're willing to make. As the blockchain landscape becomes more fragmented due to the financial incentives that drive people to launch their own L1, the need for bridges to connect liquidity across different chains becomes increasingly important.
One such project demonstrating the importance of speed and reliability in oracles for scaling financial use cases is Pyth Network. Pyth Network aims to scale thousands of price feeds for cryptocurrencies, equities, FX, and other financial products, and has chosen to build on Solana due to its ability to process thousands of transactions per second with fast finality. PythNet, the most widely used Oracle on the Solana network, provides fast, reliable price feeds.
Another significant development discussed was Polygon's introduction of CDK Enterprise, a financial-grade blockchain stack for banks, fintechs, and RWA issuers. CDK Enterprise is designed to be confidential by default and offers traceability and auditability, making it a promising solution for the financial sector.
The conversation also touched on the implications of AI on jobs, the importance of nurturing creativity in education, and the launch of Moca Network, a new blockchain initiative aimed at enhancing digital identity and reputation, as discussed by Yat Siu, the chairman and co-founder of Animoca Brands.
In the discussion about design choices, the importance of not compromising on principles, even at the cost of adoption, was emphasized. Building a better blockchain isn't about winning short-term market share, but about holding the line on principles that matter. The ideal blockchain doesn't exist yet, but the road to it will be paved with collaboration, not isolation.
Polkadot, focused on building a decentralized world computer, providing a decentralized compute infrastructure for various applications, was also a topic of interest. Security attacks through bridge vulnerabilities are a concern due to the need for bridges in a fragmented liquidity landscape, and Polkadot's focus on interoperability and security could play a significant role in addressing these concerns.
The latest developments for Polkadot include collaborations with the Indonesian Government for blockchain adoption and the Blockchain Academy for developer education, further solidifying its position in the blockchain ecosystem.
In conclusion, the discussions at CoinFest Asia 2025 highlighted the importance of shared security, interoperability, and collaboration in shaping the future of blockchain technology. As the industry continues to evolve, these principles will undoubtedly guide the development of the ideal blockchain.
