OP Labs, the development team behind Ethereum layer-2 Optimism, has successfully integrated fault proofs into its smart contracts. This achievement marks the transition to “Stage 1” of decentralization, a milestone set out by Ethereum co-founder Vitalik Buterin.
The team has announced that at least four other OP Stack networks, including Base, Metal, Mode, and Zora, will soon follow suit and implement fault proofs. This development allows users on Optimism to initiate withdrawals of Ether (ETH) and ERC-20 tokens without the need for any trusted third parties. If the team’s sequencer attempts to process invalid withdrawals, users can challenge and remove them by submitting fault proofs demonstrating the withdrawal’s invalidity.
The new system, named “Cannon,” was a collaborative effort involving various teams such as OP Labs, Base network, and Sunnyside Labs. The proposal to implement this change was approved through Optimism’s governance organizations, Token House and Citizens’ House.
While the fault proofs can be overridden by a six-of-eight vote from the Optimism Security Council, the default validation process for withdrawals now lies with users. This shift towards user-driven validation is a step towards full decentralization, or “Stage 2,” where the Security Council will only be able to override fault proofs in the event of conflicting proving systems.
According to OP Labs, Optimism’s new fault system ensures security and allows for swift action in case of code bugs. The Security Council can reset withdrawals and require reproving if safeguards are triggered. Founder Karl Floersch expressed optimism about the network’s progress towards decentralization, emphasizing the importance of building secure proof systems.
Overall, the implementation of fault proofs on Optimism signifies a significant step towards achieving full decentralization and ensuring the security and integrity of transactions on the network.