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Category: Geth

Optimism Will Roll Out Single-Click Launch For Ethereum Projects

Many layer 2 solutions are competing on being the most active in developments. Amid these scaling solutions in Optimism, and given its latest announcement, it will soon enable developers to launch DApps with just a single click of a button. Optimism provides support for all the apps on the Ethereum ecosystem. It ensures that transaction fees are lower by keeping its data on the blockchain but running computation off-chain. The team’s latest blog reveals that an upcoming upgrade will facilitate the launch of DApps on its layer. This means that every tool running on Ethereum will also run on Optimism. Latest Upgrade To Provide Support For Ethereum Protocols The disclosure by the Optimism team assures the developer’s community that the upgrade will help them to simplify the process of launching their decentralized apps. Also, this simplicity stems across features such as gas and traces. Developers targeting Geth now have the opportunity to launch without changing their codes. Related Reading | New To Bitcoin? Learn To Trade Crypto With The NewsBTC Trading Course Optimism disclosed that it had overhauled the codes. As a result, it can now go beyond being compatible Ethereum Virtual Machine only to become an EVM equivalence by making its protocol efficient and lightweight. One of the steps the team took to reduce the protocol’s load was to delete its custom compiler. It also deleted over 25,000 lines of codes as it upgraded. According to the post, the team asserts that developing the “EVM-compliant rollup” is not very easy given that it aims to support the whole Ethereum stack. Moreover, to also implement the security features which EVM requires will also cost a lot of money. However, it is mandatory because every line of codes added to the system comes with possible vulnerabilities. Optimism Pursuing Compatibility As for now, the layer 2 scaling solution is now fully equivalent with EVM using Geth. Though it is working to become compatible with alternative node implementations such as Erigon and OpenEthereum using below one thousand lines of codes. The team disclosed that they hadn’t changed the security model of the protocol even with this release. The reason behind the growth of Optimism is the move from Ethereum mainnet to other chains & layer 2 solutions compatible with EVM Ethereum has fallen by 7% in 24 hours | Source: ETHUSD on TradingView.com The migration of capital from Ethereum to these other solutions was to reduce the high fees characterizing transactions carried out on its base layer. Related Reading | While Broader Crypto Market Holds Its Collective Breath, Whales Are Loading Up On Bitcoin The information from Dune Analytics even reveals that another rollup network Arbitrum has a TVL of $2.62 billion, which is the largest ETH Bridge. This rival protocol went live three weeks ago, and it is already making waves. But it is not the only protocol as Polygon ERC-20 Bridge emerged after Arbitrum and is now boasting $2.35 billion in TVL. After Polygon came, Avalanche Bridge and Fantom Anyswap Bridge and each now record $1.86 billion and $476 million, respectively. Featured image from Forbes, chart from TradingView.com
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Ethereum Software Client Geth Issues Hotfix To Tighten Security

Geth, the most renowned software client of Ethereum, has provided a hotfix to the threatening security challenges in its code. The news was posted on Tuesday at 07:08 UTC to GitHub. However, the details of the terms were not disclosed immediately. The release is titled Hades Gamma (V1.10.8); it was posted to Ethereum GitHub on Tuesday at about 07:08 UTC. According to one of the posts on the release page, it didn’t disclose the details of the vectors, including their fixes. This would have allowed the dependent downstream projects and node operators to update their software and nodes. Related Reading | Bittrex Global CEO Declares Dubai Will Gain Benefit From Cryptocurrency Market Expansion A report from Ethernodes.org states that close to 75% of all the nodes on the Ethereum blockchain run Geth. Therefore, these users are advised to upgrade to Geth V.1.10.8, the updated version, immediately. Guido Vraken Discovering The Bug In Ethereum A software developer Guido Vraken announced on August 18th that he had discovered the bug. Guido Vraken is a scientist who specializes in discovering open-source software code vulnerabilities. He is also interested in scientific works, product development and validation, regulatory matters, and teaching. Guido Vraken is a graduate of the  University of Ghent and a volunteer at Natuurpunt. As stated earlier in the GitHub security advisory post, Geth’s vulnerability can make a node unable to execute Ethereum blocks. The Ethereum experienced a temporary split on its chain during the last Geth code’s fix for a software bug. The split resulted from communication lapses from Geth developers regarding the bug, which was a deliberate act. However, several computers known as ‘nodes’ don’t bother to customize their Geth users to the normal implementation. This led to a consensus failure in the blockchain, as recorded in November 2020. Geth Developers Take On The Latest Version In a blog post, the Geth developer team mentioned that not exposing the security vulnerability is backed by some reasons. First, the act delays all potential attacks on intending node operators that require more time to migrate to the newest version. Now, Geth developers emphasize how urgent it is for all their software users to migrate to the latest version. However, their formal August 18th announcement didn’t explicitly describe the vulnerability nature and form. Related Reading | Former DigitalX Executive Appointed As The New Binance Australia CEO One of the Geth developers, Péter Szilágyi, stated his opinion while tweeting about the code release on Tuesday. He said that “People were not happy with our hotfix last time; they noted that we didn’t make the announcement. So we have decided to do it differently this time; let’s know the one that works better,” – he added. Infura and other major Etherum-based wallets and services have pledged their support for this latest Geth release. They publicly made this announcement on Twitter. Featured Image From Pixabay
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