The post Optimism Labs Posts Upgrade Proposal After Community Audits appeared on BitcoinEthereumNews.com.

In a move that’s sure to turn heads in the crypto universe, Optimism Labs has just rolled out a hefty upgrade proposal to its Fault Proof System blockchain. This comes hot on the heels of some intense, community-led audits that didn’t just poke holes but found a few bugs lounging around in the codebase. Security is a priority, and Optimism has a new proposal that is tighter than your favorite pair of jeans after Thanksgiving dinner. The Granite Network Upgrade proposal has all the key issues under lockdown, and the community is to thank for it. Today, @OPLabsPBC posted an upgrade proposal detailing findings from a recent series of community-driven audits on the Fault Proof System, including the plan to fix the bugs identified as part of the audits.https://t.co/Kylblb3Wyx — Optimism (@Optimism) August 16, 2024 Putting Safety First, Because Nobody Likes Surprises in Crypto To make this upgrade smoother than a jazz saxophone solo, a permissioned fallback mechanism has been fired up on the OP Mainnet. Translation: for the next three weeks, the Optimism Foundation is wearing the proposer hat, deciding what’s what in the system changes, while the ever-watchful Security Council holds the ultimate veto power in case things go sideways. This isn’t just bureaucracy for bureaucracy’s sake. It’s a calculated dance to keep your digital assets snug and secure while the tech wizards do their thing. As a safety precaution—think of it as resetting the game board—all pending withdrawals have been sent back to square one and will need to be re-proven before they see the light of day. Rigorous Audits The folks at Optimism Labs aren’t skimping on due diligence. They’ve enlisted some of the sharpest minds in cybersecurity to put their Fault Proof System through the wringer. These audits are not your run-of-the-mill checkups; they’re more…

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Filed under: News - @ August 16, 2024 10:18 pm