zkSync Releases Important Update Execution Delay For Security Mechanism
Key Points:
- zkSync has released a significant update of its security mechanism, introducing the Execution Delay.
- Accordingly, every L2 block committed to L1 will have a time lock until it is executed and finalized. This delay will gradually decrease until dropped.
- It will be able to prevent rapid exhaustion of the protocol if critical bugs are discovered and exploited.
According to the official Twitter, the Ethereum Layer 2 network based on ZK Rollup zkSync has released an essential update of the security mechanism: the introduction of Execution Delay.
Because security comes first, the network has completed robust testing, multiple level 1 security checks, public contests, and bug bounties. It has a system running on the test network implemented carefully and gradually over a 12-month period.
Securing @zksync Era: Execution Delay
— zkSync ∎ (@zksync) March 23, 2023
As we approach our next milestone, we want to share an important update on our security mechanism. Our focus today is on one of these mechanisms: execution delay.https://t.co/VNlaUkcL7w
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Execution latency means every block of L2 committed to L1 will have a time lock until it is executed and finalized. Initially, this delay will be 24 hours, and as the system matures, this delay will gradually decrease until it is eliminated.
Changing the latency requires multiple signatures collected from several cold wallets owned by zkSync leadership.
The execution delay ensures that there is enough time to validate transactions in a block before the block becomes final. It will be able to prevent rapid exhaustion of the protocol if critical bugs are discovered and exploited.
With the update, the zkSync team will monitor each block and can investigate any anomalies and warning signs, such as rapid outflows or substantial withdrawals.
According to the developers, the advantage of delaying execution is that it gives the network more time to detect and react to problems when the system crashes or is attacked. This also has no changes to the Era Contract, so even if the intermediate contract is breached, ZkSync will still revert to the original state. Ultimately this implementation can be easily removed later.
zkSync Era is a layer 2 protocol that scales the security and value of Ethereum through zero-knowledge cryptography. zkSync’s mission is to increase Ethereum’s throughput and fully preserve its foundational values – at scale.
zkSync belongs to ZK Rollups or Optimistics Rollups technology, and there are also some other heavyweights like StarEX or StarkNET of StarkWare (ZK Rollups) or Loopring also of ZK Rollups.
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