The Ethereum Layer 2 network, which is based on ZK Rollup zkSync, has reportedly published an essential improvement to the security mechanism: the addition of Execution Delay.
The network has undergone thorough testing, several level 1 security checks, open competitions, and bug bounties since security comes first. During the course of a year, it was carefully and progressively implemented on the test network.
Securing @zksync Era: Execution Delay 🕒🔐
— zkSync ∎ (@zksync) March 23, 2023
As we approach our next milestone, we want to share an important update on our security mechanism. Our focus today is on one of these mechanisms: execution delay.https://t.co/VNlaUkcL7w
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Every block of L2 committed to L1 will have a time lock until it is performed and completed due to execution latency. This delay will be 24 hours at first, and as the technology gets more developed, it will eventually disappear.
Several signatures must be gathered from various cold wallets owned by the zkSync leadership in order to change the latency.
The execution delay guarantees that a block's transactions have enough time to be verified before the block is considered complete. In the event that crucial bugs are found and successfully exploited, it will be able to stop the protocol from quickly exhausting itself.
With the update, the zkSync team will monitor each block and be able to look into any irregularities and warning indicators, such quick outflows or sizable withdrawals.
The benefit of postponing execution, based on the engineers, is that it provides the network more time to notice and respond to issues when the system crashes or is attacked. The Era Contract is unaffected by this as well, therefore even if the intermediate contract is broken, ZkSync will still return to its initial state. In the long run, this implementation can be easily deleted.
A layer 2 protocol called zkSync Era scales Ethereum's security and value using zero-knowledge cryptography. The goal of zkSync is to scale up Ethereum while maintaining all of its fundamental principles.
ZK Rollups or Optimistic Rollups technology includes zkSync in addition to some other major hitters like StarEX or StarkNET of StarkWare (ZK Rollups) or Loopring, which is also a ZK Rollups technology.
