According to a report from “The Block”, OP Labs has released Fault Proofs on the second layer blockchain OP Mainnet, advancing the project in decentralization to Stage 1 Rollup.
The Fault Proofs system allows Ether and ERC-20 tokens to be withdrawn from OP Mainnet without the need for a trusted third party, enabling users to challenge and remove invalid withdrawals. Fault Proofs serve as a mechanism on the Ethereum Layer 2 network that allows users to challenge potential fraud or erroneous transactions.
Prior to approval by Optimism’s governance structure, the implementation of Fault Proofs received support from multiple core development teams in the Optimism ecosystem (or Superchain), including OP Labs, Base, and Sunnyside Labs, indicating a collaborative effort. Before this, OP Mainnet did not have Fault Proofs online – requiring users to trust that operators would submit accurate state roots to the mainnet.
OP Mainnet and other Optimism ecosystem chains use Optimistic Rollups as a scaling solution, aggregating Ethereum transactions off-chain to reduce processing costs. The development team of OP Mainnet, OP Labs, also operates a development software stack called “OP Stack”, through which developers can launch their own Layer 2 blockchain, similar to the one used by the US cryptocurrency exchange Coinbase called Base.
The cryptocurrency project Worldcoin, co-founded by OpenAI founder Sam Altman, recently announced that its “World Chain” is expected to be built using OP Stack.
Fault Proofs are currently running on OP Mainnet, and other OP Stack chains will begin upgrading to include this feature, starting with Base, Metal, Mode, and Zora.
Although the open participation of the Fault Proofs system is live, the Optimism Security Committee can still intervene in the event of system failure and restore the system to a licensed state as part of a secure and responsible rollout. Additional safeguards allow the Security Committee to effectively address system vulnerabilities, including the ability to reset withdrawals if necessary.
OP Mainnet has a fully permissionless and decentralized “Stage 2” roadmap managed entirely through smart contracts. Most Optimistic Rollup blockchains have yet to achieve decentralization of the network through the incorporation of Fault Proofs and maintenance of decentralized contract upgrades. Similarly, the competitor using Optimistic Rollups, Arbitrum, has also implemented Fault Proofs.
According to The Block, OP Labs has released fault proofs on the second layer blockchain OP Mainnet, advancing the project in decentralization to Stage 1 Rollup.
The fault proof system allows Ether and ERC-20 tokens to be withdrawn from OP Mainnet without the need for a trusted third party, allowing users to challenge and delete invalid withdrawals. The fault proof system, as a mechanism on the Ethereum Layer 2 network, enables users to challenge potential fraud or erroneous transactions.
Prior to approval by Optimism’s governance structure, the implementation of fault proofs received support from multiple core development teams in the Optimism ecosystem (or Superchain), including OP Labs, Base, and Sunnyside Labs, indicating a collaborative effort. Before this, OP Mainnet did not have fault proofs online – requiring users to trust that operators would submit accurate state roots to the main network.
OP Mainnet and other Optimism ecosystem chains use Optimistic rollups as a scaling solution, aggregating Ethereum transactions off-chain to reduce processing costs. OP Labs, the development team behind OP Mainnet, also operates a development software stack called “OP Stack,” through which developers can launch their own Layer 2 blockchain, such as the Layer 2 network Base adopted by the US cryptocurrency exchange Coinbase, developed using OP Stack. The cryptocurrency project Worldcoin, co-founded by OpenAI’s Sam Altman, recently announced “World Chain,” which is expected to be built using OP Stack.
Fault proofs are currently running on OP Mainnet, and other OP Stack chains will begin to upgrade to include this feature, starting with Base, Metal, Mode, and Zora.
Although the open participation of the fault proof system is online, the Optimism Security Council can still intervene in the event of system failure and restore the system to a licensed state as part of a secure and responsible rollout. Additional safeguards allow the Security Council to effectively address system vulnerabilities, including the ability to reset withdrawals when necessary.
OP Mainnet has a fully permissionless and decentralized “Stage 2” roadmap managed entirely through smart contracts. Most Optimistic rollup blockchains have yet to achieve decentralization of the network through the inclusion of fault proofs and maintenance of decentralized contract upgrades. Similarly, Arbitrum, a competitor using Optimistic rollups, has also implemented fault proofs.
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