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+# Security Assumptions
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+
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+This page details various assumptions that Wormhole relies on for security and availability. Many of these are
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+universally applicable to different decentralized protocols.
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+
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+This document assumes familiarity with Wormhole concepts like VAAs, lockups and transfers.
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+
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+## Gossip network availability
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+
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+Wormhole's peer-to-peer gossip network relies on the [go-libp2p](https://github.com/libp2p/go-libp2p) and
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+[go-libp2p-pubsub](https://github.com/libp2p/go-libp2p-pubsub) library. libp2p is a very popular library used by many
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+major decentralized networks like IPFS and Ethereum 2.0. Nevertheless, like any distributed protocol, it may be
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+susceptible to various denial-of-service attacks that may cause message loss or overwhelm individual nodes.
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+
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+We do _not_ rely on libp2p for security, only for availability. libp2p's channels are encrypted and authenticated by
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+default, but we do not rely on that property. A compromise of libp2p transport security could, at worst, result in
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+denial of service attacks on the gossip network or individual nodes.
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+
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+Gossip network unavailability can result in transfers getting temporarily stuck, but never permanently. Nodes will
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+periodically attempt to retransmit signatures for VAAs which failed to reach consensus in order to mitigate short-term
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+network outages. Longer network outages, leading to eventual VAA retransmission timeouts, as well as correlated crashes
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+of a superminority of nodes, may result in lockups being dropped.
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+
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+The mitigation for this is the PokeVAA mechanism on Solana or chain replay for other chains. On Solana, a user can
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+request retransmission of their lockup, resulting in re-observation by nodes and another round of consensus - and manual
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+chain replay by the nodes. During chain replay, nodes will re-process events from connected chains up from a given block
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+height, check whether a VAA has already been submitted to Solana, and initiate a round of consensus for missed lockups.
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+
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+This carries no risk and can be be done any number of times because VAAs are fully deterministic and idempotent - any
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+given lockup will always result in the same VAA body hash. All connected chains keep a permanent record of whether a
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+given VAA body - identified by its hash - has already been executed, therefore, VAAs can safely undergo multiple rounds
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+of consensus until they are executed on all chains.
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+
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+The bridge does not yet implement chain replay (see https://github.com/certusone/wormhole/issues/123). Network outages
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+can therefore result in stuck transfers from chains other than Solana in the case of a prolonged network outage. It
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+would be possible to retroactively recover locked funds after chain replay has been implemented.
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+
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+## Chain consistency and finality
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+
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+The Wormhole network always observes _external events_ and never initiates them on its own. It relies on the connected
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+chain's consensus, security and finality properties. In the case of guardian set updates, it relies on off-chain
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+operator consensus in the same way.
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+
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+A non-exhaustive list of external chain properties Wormhole relies on:
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+
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+- It can be assumed that at some point, transactions are final and cannot be rolled back.
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+- A given transaction is only included/executed once in a single block, resulting in a determistic VAA body.
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+- Account data and state is permanent, by default or through a mechanism like Solana's rent exemptions.
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+- No equivocation - there is only one valid block at a given height.
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+
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+## On-chain spam prevention
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+
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+We assume that all connected chains use a fee or similar mechanism to prevent an attacker from overwhelming the network,
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+and that Wormhole's processing capacity is greater than the sum of the capacity of all connected chains.
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+
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+Solana has ridiculous processing capacity and can process transactions at a greater rate than what its websocket
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+subscription interface, the agent, or the Wormhole itself could handle. This is partially mitigated by the fee that the
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+Wormhole contracts charge in excess of the (very cheap) transaction fee, but a sufficiently incentived attacker could
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+still execute a sustained attack by simply paying said fee.
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+
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+A possible future improvement would be dynamic fees on the Solana side, but this is currently blocked by runtime
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+limitations (see https://github.com/certusone/wormhole/issues/125). Even with dynamic fees, raising the fees beyond the
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+amount that a reasonable user would pay may already constitute a successful attack against the protocol.
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+
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+DDoS attacks on decentralized protocols are a tricky thing in general, and mostly a matter of game theory/incentives.
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+Defense strategies are dynamic and evolve as the ecosystem grows. We therefore exclude such attacks from the current
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+Wormhole threat model. The assumption is that the incentive to execute such an attack is less than the cost in fees and
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+the legal/liability risks an attacker would incur, and that the costs to sustain the attack would be greater than simply
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+attacking the connected chains directly.
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+
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+## Guardian incentive alignment
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+
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+Wormhole is a decentralized PoA bridge. Its game-theoretical security relies on hand-picked operators whose incentives
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+strongly align with Solana ecosystem - large token holders, ecosystem projects, top validators and similar, who would
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+risk damage to their reputation, token values, and ecosystem growth by attacking the network or neglecting their duties.
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+
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+We assume that at the present time, such incentive alignment is easy to bootstrap and get right than a separate chain,
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+which requires carefully-designed token economy and slashing criteria. In particular, it attracts operators who care
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+about the ecosystem beyond short-term validation rewards, resulting in a high-quality, resilient guardian set.
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+
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+As the project grows, there's a number of potential improvements to consider other to a staking token, including
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+the [Balsa](https://docs.google.com/document/d/1sCgxHIOrVHAqrt4NWkUJXxQvpSxq6DyZrkf4IR-R-YM/edit) insurance pool
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+proposal and a DAO that offsets operational costs and rewards operators.
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+
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+## Uncompromised hosts
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+
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+This should go without saying - we assume that an adversary cannot read or write host memory, execute code, or otherwise
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+compromise the running host operating system or platform while or after the node is running.
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+
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+Contrary to popular belief, hardware security modules do _not_ significantly change the risks associated with host
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+compromise when dealing with cryptocurrency keys. A compromised host could easily abuse the HSM as a signing oracle,
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+causing irreversible damage with a single signature. It merely complicates the attack, but not in a major way.
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+
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+For some use cases, like PoS validation, the risk of host compromise can be fully mitigated by running a smart HSM like
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+[SignOS](https://certus.one/sign-os). In these cases, the smart HSM can parse the signature payload and apply
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+constraints like "a given block height may only be signed once", which can be independently verified in a secure
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+enclave. In the case of on an oracle like Wormhole, this constraint is "only finalized events may be certified", which
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+is impossible to verify without verifying block headers. Therefore, in the case of Wormhole, the entire Wormhole
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+instance would have to run inside a smart HSM, including light clients for the chains it supports.
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+
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+## Third-party libraries
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+
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+Like any modern software project, we rely on a number of external libraries. We applied best practices in dealing with
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+such third party dependencies, including minimizing their number, avoiding binary dependencies, and using lockfiles to
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+pin dependencies to exact versions and hashes to avoid distribution-level compromises. We assume that the third-party
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+libraries we use are safe and do not contain backdoors.
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+
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+Go's supply chain is particularly hardened against such compromises thanks to the [public go.sum
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+database](https://go.googlesource.com/proposal/+/master/design/25530-sumdb.md).
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+
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+For cryptography in the node software, we exclusively rely on high-level interfaces in Go's standard library - which is
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+known for its robustness - and go-ethereum, both of which have been exhaustively audited.
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+
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+## Safe handling of crashes in the Solana eBPF VM
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+
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+Due to the instruction count limitations in the Solana runtime, the Solana contracts makes liberal use of unsafe blocks
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+to serialize and deserialize data without incurring the overhead of a memory-safe approach.
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+
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+This follows current best practices for Solana contract development. It assumes that invalid operations or out-of-bounds
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+accesses will always cause a crash and be caught by the bytecode interpreter, and safely halt contract execution like
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+any other error during contract execution would.
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+
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