Ethereum Foundation Announces Resolution Of All Issues With Pectra System Contracts Following Security Audit
In Brief
Ethereum Foundation announced the results of an external security audit conducted on the Pectra System Contracts, revealing several issues, all of which have since been addressed.
Non-profit organization supporting the development of the Ethereum blockchain, Ethereum Foundation announced the results of an external security audit conducted on the Pectra System Contracts. The review identified important issues, all of which have been addressed.
The Pectra System Contracts include several Ethereum Improvement Proposals (EIPs), namely EIP-2935, EIP-7002, and EIP-7251. The primary purpose of the reviews was to evaluate the contracts for potential security risks and ensure that their logic accurately implements the functionality outlined in the respective EIP specifications.
A multi-phase auditing process was employed, with each subsequent review building upon the findings of the previous ones. This included audits from Blackthorn, Dedaub, and Sigma Prime, covering EIPs 2935, 7002, and 7251, as well as the PlainShift audit. After each round of audits, code improvements were made before moving forward to the next phase.
Additionally, venture capital firm a16z conducted a formal verification using Halmos, a tool to formally verify the correctness of the contract’s functionality. This process focused on confirming that the bytecode was aligned with the contract specifications, rather than assessing the security of the specifications themselves. This approach allows auditors and the community to review the contract’s specifications without being concerned about the lower-level details of the bytecode implementation.
Pectra Goes Live On Holesky, Sepolia Testnet Launch Expected On March 5
Pectra, an upcoming upgrade to the Ethereum network, is a combination of two components: “Prague,” which addresses updates on the execution client side, and “Electra,” which focuses on improvements to the consensus layer client side. This upgrade follows the Dencun upgrade from the previous year.
The Pectra upgrade introduces various changes aimed at enhancing Ethereum’s scalability, security, and usability. These include improvements such as enhancing the user experience in cryptocurency wallets and account abstraction (EIP-7702), increasing the maximum validator stake limit from 32 to 2,048 ETH (EIP-7251), and doubling the maximum blob count to improve rollup scalability (EIP-7691).
The upgrade was activated on the Holesky test network earlier this week. However, an execution layer (EL) vulnerability caused chain splits, leading to a situation where only a minority of chains were valid, which reduced the network’s overall health. The next phase for Pectra is its activation on the Sepolia testnet, expected on March 5th.
If both testnets are successful, the Ethereum team will proceed with selecting a mainnet activation date, which is anticipated to be in April.
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About The Author
Alisa, a dedicated journalist at the MPost, specializes in cryptocurrency, zero-knowledge proofs, investments, and the expansive realm of Web3. With a keen eye for emerging trends and technologies, she delivers comprehensive coverage to inform and engage readers in the ever-evolving landscape of digital finance.
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Alisa, a dedicated journalist at the MPost, specializes in cryptocurrency, zero-knowledge proofs, investments, and the expansive realm of Web3. With a keen eye for emerging trends and technologies, she delivers comprehensive coverage to inform and engage readers in the ever-evolving landscape of digital finance.
