ethereum

Optimism Enhances Ethereum Layer-2 Security and Decentralization with Fault Proofs

The Big Whale

— 1 min read
  • Optimism's Layer 2 blockchain now has fault proofs, advancing to Stage 1 decentralization.
  • Users can withdraw Ether and ERC-20 tokens without third-party involvement.
  • Fault proofs allow users to challenge and remove invalid withdrawals.
  • Collaborative effort from OP Labs, Base, and Sunnyside Labs to implement fault proofs.
  • Security Council can still intervene in case of system failures for a safe rollout.
  • Roadmap towards Stage 2 decentralization managed solely via smart contracts.

Summary :

Optimism, a leading Ethereum layer-2 project, has implemented fault proofs into its smart contracts, addressing a crucial missing feature. Fault proofs are essential for challenging malicious transactions and ensuring the security of the network. With the implementation of fault proofs, users can now initiate withdrawals of Ether and ERC-20 tokens without relying on trusted third parties. The fault-proof system, called "Cannon," was developed in collaboration with multiple teams and has undergone testing and auditing. While the Security Council will still have oversight in case of system failures, the goal is to eventually achieve full decentralization. This development brings Optimism closer to its competitors and paves the way for further advancements in the network's security and decentralization.

Sources :

- Coindesk
- CoinTelegraph
- Coindesk
- TheBlock
- TheBlock

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