According to Foresight News, networks such as ZORA, Aevo, Hypr, Orderly, Ancient8, Lyra, Mode, Pgn, Parallel, and Metal, which were created using the Conduit Rollup 'one-click chain' creation software, have a combined Total Value Locked (TVL) of approximately $121 million. These Conduit-based networks currently operate on a 3/5 multisig system, where the private keys for signing are stored in hardware wallets.
L2BEAT researcher Luca Donno shared this information, highlighting the role of Conduit Rollup in the creation of these networks. The multisig system is a security measure that requires multiple signatures to authorize a transaction, adding an extra layer of security to the networks.
Andrew Huang, the founder of Conduit, has announced plans for an upgrade in the coming weeks. The upgrade will see the networks transition to a 5/7 multisig system. This change will further enhance the security of the networks by requiring more signatures for transaction authorization. The exact timeline for this upgrade has not been specified.
