Crypto Flexs
  • DIRECTORY
  • CRYPTO
    • ETHEREUM
    • BITCOIN
    • ALTCOIN
  • BLOCKCHAIN
  • EXCHANGE
  • TRADING
  • HACKING
  • SLOT
  • CASINO
  • SUBMIT
Crypto Flexs
  • DIRECTORY
  • CRYPTO
    • ETHEREUM
    • BITCOIN
    • ALTCOIN
  • BLOCKCHAIN
  • EXCHANGE
  • TRADING
  • HACKING
  • SLOT
  • CASINO
  • SUBMIT
Crypto Flexs
Home»ADOPTION NEWS»Optimism Foundation Disables Permissionless Fraud Prevention, Plans Hard Fork After Security Audit
ADOPTION NEWS

Optimism Foundation Disables Permissionless Fraud Prevention, Plans Hard Fork After Security Audit

By Crypto FlexsAugust 18, 20243 Mins Read
Facebook Twitter Pinterest LinkedIn Tumblr Email
Optimism Foundation Disables Permissionless Fraud Prevention, Plans Hard Fork After Security Audit
Share
Facebook Twitter LinkedIn Pinterest Email

optimism Office

+4.83%
The launch of permissionless fraud proofs, also known as error proofs, is a significant achievement for the Ethereum-based ecosystem, as it allows users to challenge potentially fraudulent or incorrect transactions on a layer 2 network. Unlike permissioned fraud proofs, where only trusted proposers can challenge transactions, permissionless fraud proofs open up the mechanism to all users.

With these developments, Optimism can claim to have reached Level 1 decentralization, as described by Ethereum co-founder Vitalik Buterin. Level 1, or “limited training wheels,” requires that there be a fraud prevention system in place on the Layer 2 network, but a multisig of trusted parties can retain the power to override the system if a bug is identified or exploited.

But less than two months after the permissionless fraud prevention feature went live on June 10, the Optimism Foundation announced on X that it had reverted the network to a permissioned state after a “community-driven audit” that identified several bugs, ranked by severity.

A representative from Optimism contributor OP Labs submitted a proposal to Optimism’s governance forum explaining why the fallback system was enabled and details the security vulnerability discovered.

“None of the vulnerabilities were exploited, no user assets were put at risk, and never have been. However, out of an abundance of caution, authorized fallback mechanisms were activated to avoid potential instability while the vulnerabilities were patched,” protocol engineer Mofi Taiwo wrote.

Of the identified vulnerabilities, two were rated high severity according to Optimism’s ImmuneFi bounty scale. “While our auditors found several high severity issues, no user assets were at risk. All audited issues listed below were detectable with our monitoring tooling,” Taiwo wrote in his post.

While the fallback mechanism was audited, certain contracts related to the fraud prevention system were outside the scope of Optimism’s audit. “…the disputed games and MIPS contracts fall into the active/reputational risk category, which does not require an audit. The fallback mechanism allows for easy recovery from bugs and does not pose a risk to user funds. Therefore, we have decided not to pursue a remediation review of the changes made in this proposal,” the proposal reads.

Taiwo’s proposal would schedule the upgrade for September 10 at 16:00:01 UTC. The upgrade, dubbed “Granite,” would require several updates to the network, including an L2 hard fork. While Taiwo’s post notes that the hard fork is unaudited, the post does note that OP Labs conducted a security review of the changes and found them to be low risk. The Block could not immediately be reached for comment on the optimism.


Disclaimer: The Block is an independent media outlet providing news, research and data. As of November 2023, Foresight Ventures is the largest investor in The Block. Foresight Ventures invests in other companies in the cryptocurrency space. Cryptocurrency exchange Bitget is an anchor LP of Foresight Ventures. The Block continues to operate independently to provide objective, impactful and timely information on the cryptocurrency industry. Current financial disclosures include:

© 2024 The Block. All rights reserved. This article is provided for informational purposes only. It is not provided or intended to be legal, tax, investment, financial or other advice.

Share. Facebook Twitter Pinterest LinkedIn Tumblr Email

Related Posts

Ether Lee (ETH) tests major support for $ 4,453 after the highest rejection.

August 31, 2025

Bitcoin analysts bet on $ 200K after hints of Fed.

August 23, 2025

‘Self -transactions, dressed in capital layout’: The cryptocurrency financial craze divides the industry.

August 15, 2025
Add A Comment

Comments are closed.

Recent Posts

Cango Inc. Announces August 2025 Bitcoin Production And Mining Operations Update

September 2, 2025

BitMine Immersion (BMNR) Announces Release Of August Investor Presentation And Latest Video Message From Tom Lee, Chairman

September 2, 2025

Pioneering AI Visionary Vincent Boucher & AGI Alpha Announce A Meta‑Agentic AGI Jobs Marketplace Platform

September 2, 2025

Meme Coin Little Pepe Raises Above $24M In Presale With Over 39,000 Holders

September 2, 2025

Bybit WSOT 2025 Attracts Quadruple Squads As $8M Main Competition Commences

September 2, 2025

Duration Of The Process And Important Nuances

September 2, 2025

PrimeXBT Launches “Empowering Traders To Succeed” Campaign, Leading A New Era Of Trading

September 2, 2025

Korean sleeves cut Tesla and pivot with encryption stocks.

September 2, 2025

Are you ready to token everything?

September 1, 2025

Sign Up And Get $500, Ushering In A New Era Of BTC, XRP, And DOGE Cloud Mining

September 1, 2025

Turning Social Hype Into Token Allocation

September 1, 2025

Crypto Flexs is a Professional Cryptocurrency News Platform. Here we will provide you only interesting content, which you will like very much. We’re dedicated to providing you the best of Cryptocurrency. We hope you enjoy our Cryptocurrency News as much as we enjoy offering them to you.

Contact Us : Partner(@)Cryptoflexs.com

Top Insights

Cango Inc. Announces August 2025 Bitcoin Production And Mining Operations Update

September 2, 2025

BitMine Immersion (BMNR) Announces Release Of August Investor Presentation And Latest Video Message From Tom Lee, Chairman

September 2, 2025

Pioneering AI Visionary Vincent Boucher & AGI Alpha Announce A Meta‑Agentic AGI Jobs Marketplace Platform

September 2, 2025
Most Popular

Is the trump Fuel Fuel Dogecoin in ELON Musk less than $ 0.10?

June 6, 2025

Global Dollar Network Launches to Drive Stablecoin Adoption

November 5, 2024

EOS token economics overhaul: important changes ahead

May 30, 2024
  • Home
  • About Us
  • Contact Us
  • Disclaimer
  • Privacy Policy
  • Terms and Conditions
© 2025 Crypto Flexs

Type above and press Enter to search. Press Esc to cancel.