bartek.eth Profile picture
Nov 21 8 tweets 3 min read
So, it seems like a while ago @arbitrum has updated its Rollup implementation on L1 in a way that, IMO, dramatically increased its decentralisation. Funny, they kind of forgot to inform public about it, let's have a quick look: 👇🧵
You may be aware that being Validator for Arbitrum is still not entirely permissionless - you need to be whitelisted. Validators submit new L2 state roots to L1 Ethereum and can challenge each other /2
As a result of having a whitelist, if all Validators went down, nobody would submit L2 state roots and users' funds will be stuck. Hence the warning on @l2beat : /3
But there is this new cool feature introduced just before ETH Merge that essentially drops the whitelist entirely if Validators do not submit new state roots in a 7-day period. After that anyone can become a Validator /4
All you need to do is call removeWhitelistAfterValidatorAfk() method on a Rollup: etherscan.io/address/0xa0ed… - it is permissionless /5
With that in place I guess one big red warning goes away, so it will be (once PR is merged): /6
I do encourage all projects to submit their PRs - no need for all these red flags to keep hanging there if they are inaccurate 🙈 /7
While we are at it, we are working hard to develop monitoring infra so that such changes will never get unnoticed in the future. It is complicated but very rewarding. If you want to help us out, please reach out. End /8

• • •

Missing some Tweet in this thread? You can try to force a refresh
 

Keep Current with bartek.eth

bartek.eth Profile picture

Stay in touch and get notified when new unrolls are available from this author!

Read all threads

This Thread may be Removed Anytime!

PDF

Twitter may remove this content at anytime! Save it as PDF for later use!

Try unrolling a thread yourself!

how to unroll video
  1. Follow @ThreadReaderApp to mention us!

  2. From a Twitter thread mention us with a keyword "unroll"
@threadreaderapp unroll

Practice here first or read more on our help page!

More from @bkiepuszewski

Oct 26
Why @DefiLlama and @l2beat show significantly different numbers for TVL such as with @arbitrum ? 🧵👇
To put it simply, it's a very different TVL and we might need a better term. What @l2beat is showing is essentially "funds locked in a bridge". @arbitrum uses few contracts to escrow funds on L1. Here's one for ETH: etherscan.io/address/0x8315… /2
As you can see, just ETH bridged to @arbitrum is over 1B$. But there's more, here's escrow for $USDC, $USDT and some other ERC20 tokens: etherscan.io/address/0xcEe2… with another 1B$ locked /3
Read 11 tweets
Oct 20
A long thread about Optimistic Bridges and why we think @HopProtocol falls into this category (@l2beat will change the classification). Optimistic bridges are an exciting new class of bridges with @nomadxyz_ / #Optics and @AcrossProtocol falling into this category as well 👇🧵
All these constructions are different but they have one thing in common - when message is passed from source to destination chain, it is assumed to be genuine/valid unless proven otherwise by some independent Watchers /2
The main question then is - are these Watchers actually watching the bridge and how long is a “fraud-proof window” during which the validity of message can be challenged /3
Read 20 tweets
Oct 7
Are you confused by the recent @samczsun thread regarding Binance Bridge hack ? I will explain this in the simplest terms possible: 🧵👇
Binance has two chains - older Binance Chain (now renamed to Binance Beacon Chain) and newer Binance Smart Chain. If newer is Smart, not sure how should I name the older, but there you go /2
The older one is built using Cosmos SDK, it's using Tendermint, and its main purpose is fast token transfers and DEX. It is not meant to be generalised smart contract platform /3
Read 8 tweets
Sep 21
With the lock-mint bridge you normally expect that the amount of locked tokens in a bridge is greater than amount of tokens minted on a destination chain. That's true for *most* bridges, but not all. Let's have a closer look at @MultichainOrg 👇🧵
Multichain is a massive ecosystem supporting many different chains and over a 1000 of tokens: docs.multichain.org/getting-starte… /2
One of the first chains they supported is @FantomFDN which, generally, regards tokens minted by @MultichainOrg as their "standard" tokens /3
Read 16 tweets
Sep 4
As a final sneak-peak before full bridge risk framework is launched at @l2beat, let's have a look at @SynapseProtocol in details. Hopefully interested community members will be able to similarly analyse other bridges - we are looking for contributors ! 🧵👇
First a quick look at the documentation - Synapse promises cross-chain messaging, optimistic verification similar to Celo's Optics (the team moved to @nomadxyz_ ) - that sounds very interesting docs.synapseprotocol.com/protocol/optim… /2
Documentation aside, we need to examine the deployed bridge code - turns out the main bridge is deployed at etherscan.io/address/0x2796… and, according to Etherscan, it acts as an Escrow holding 75M$ of assets (mostly $gOHM, $USDC, $WETH, $USDT). /3
Read 17 tweets
Aug 29
In the last thread on bridging assets I claimed that the security of an asset that you hold depends on which Token bridge you used. Let's explore more complex example, bridging $FRAX to @arbitrum 👇🧵
There are at least four different Token Bridges that you can use to bridge $FRAX to Arbitrum, namely @arbitrum standard ERC20 bridge, @MultichainOrg , @CelerNetwork and @SynapseProtocol /2
In the result you will get four different non-fungible tokens. They look similar on ArbiScan but they are very different, e.g arbiscan.io/address/0x7468… and arbiscan.io/address/0x667f…. Can you tell the difference ? /3
Read 12 tweets

Did Thread Reader help you today?

Support us! We are indie developers!


This site is made by just two indie developers on a laptop doing marketing, support and development! Read more about the story.

Become a Premium Member ($3/month or $30/year) and get exclusive features!

Become Premium

Don't want to be a Premium member but still want to support us?

Make a small donation by buying us coffee ($5) or help with server cost ($10)

Donate via Paypal

Or Donate anonymously using crypto!

Ethereum

0xfe58350B80634f60Fa6Dc149a72b4DFbc17D341E copy

Bitcoin

3ATGMxNzCUFzxpMCHL5sWSt4DVtS8UqXpi copy

Thank you for your support!

Follow Us on Twitter!

:(