The development team at OP Labs has successfully integrated fault proofs into the smart contracts of Ethereum layer-2 protocol Optimism. This achievement marks the completion of “Stage 1” of decentralization, as outlined by Ethereum co-founder Vitalik Buterin in a set of milestones.
In the near future, four other OP Stack networks, including Base, Metal, Mode, and Zora, are set to implement fault proofs as well. Users on the Optimism platform can now initiate withdrawals of Ether (ETH) and ERC-20 tokens without the need for any trusted intermediaries, according to a recent announcement by OP Labs. If the team’s sequencer attempts to process invalid withdrawals, users can challenge and remove them by submitting a fault-proof demonstrating the withdrawal’s invalidity.
The introduction of the new fault-proof system, named “Cannon,” is a collaborative effort involving OP Labs, Base network, Sunnyside Labs, and other teams. This system, which received approval from Optimism’s governance organizations, is designed to enhance security and decentralization on the platform.
Although fault proofs can be overridden by a vote from the Optimism Security Council, the default validation process for withdrawals now rests with users. The move to “Stage 1” is seen as a significant step towards achieving full decentralization or “Stage 2” in the future.
Optimism founder Karl Floersch emphasized the importance of building secure proof systems, acknowledging the challenges faced in the process. He expressed optimism about the progress made towards decentralization and the implementation of multiple proof systems on the platform.
The transition to Stage 2 is expected to be swift and decisive following the completion of Stage 1. With multiple client implementations and ongoing efforts to enhance security and decentralization, Optimism is poised to continue its evolution as a leading layer-2 solution for Ethereum.
The implementation of fault proofs on Optimism is a key development in enhancing security and decentralization on the platform, ensuring the integrity of transactions and withdrawals. With continued advancements and improvements, Optimism is set to maintain its position as a secure and efficient layer-2 solution for Ethereum users.