[Optimism (OP) previews major upgrades on the mainnet]
Mofi, a protocol engineer at software development company OP Labs, hinted that the Optimism mainnet is about to undergo a major upgrade to address several security vulnerabilities discovered by security audit agencies Spearbit, Cantina and Code4rena. Although there are currently no reports of these vulnerabilities being exploited, this upgrade is intended to be prudent and ensure the security of user assets.
The upgrade includes updates to smart contracts and a Layer2 fork to fix vulnerabilities and improve the stability and performance of fault-tolerant systems. In addition, the team proposes to extend the functionality of Guardian and DeputyGuardian to prevent references to invalid anchor states and reset user withdrawals within a specified time. The OP mainnet has enabled an authorized backup mechanism to further protect user assets.
At the same time, Shiba Inu’s Layer 2 extended function solution Shibarium will also undergo a hard fork upgrade and introduce a new destruction mechanism. This mechanism will convert 70% of transaction fees into SHIB tokens and remove them from circulation to reduce the total supply of tokens and drive SHIB prices higher in the long term.
While other Layer 2 protocols are celebrating their upgrades, Ethereum has fallen in the key Layer 2 transactions per second (TPS) rankings, currently sitting in 11th place, below Optimism mainnet in 10th place.
