Researchers have launched the Liquefaction application for the first time, allowing users to access Tokens without owning them.
Gate News bot, researchers at Cornell Tech Campus are showcasing for the first time a use case for a cutting-edge concept that challenges a core assumption of blockchain security: only private key holders can control digital assets. The app, called Take My Ape, employs a process called "Liquefaction" that allows users to temporarily access blockchain assets, such as Bored Ape NFTs, without actually owning them. The program was released on Wednesday on the occasion of the 10th anniversary of the Cryptocurrency & Contracts Initiative (IC3). "The inherent philosophy of the cryptocurrency system and its security model is that private keys, as well as assets, are controlled by an individual or entity," the researchers wrote in a white paper. We launched Liquefaction, a wallet platform that proves its dangerous vulnerability by systematically breaking this fundamental assumption. ”