China News by Thebittimes.Com

Smart contract development firm Thirdweb has discovered security vulnerabilities that potentially “affect various smart contracts in the Web3 ecosystem.” Thirdweb, an all-in-one development platform that provides EVM smart contracts, says it found a vulnerability in a popular open-source library that could potentially affect some pre-built smart contracts, including some of its own. IMPORTANT On November 20th, 2023 6pm PST, we became aware of a security vulnerability in a commonly used open-source library in the web3 industry. This impacts a variety of smart contract s across the web3 ecosystem, including some of thirdweb’s pre-built smart contract s.… — thirdweb (@thirdweb) December 5, 2023 The team added that the smart contract vulnerability has not yet been exploited, but warned customers that the exploit could cause smart contract vulnerabilities. You might also like: Stellar initiates security audits for imminent Soroban smart contracts platform ...

One of Meter’s goals is maximizing interoperability with other public blockchains. Meter Passports is currently secured by five relayers including Protofire, Harshquark, Wetez, InfinityStones, and Meter team through multisig contracts. The next version will support an unlimited number of relayers. It can transfer native tokens, and tokens in various token standards like ERC20, ERC721, and ERC1155 in addition to passing arbitrary generic messages between blockchains. A user transferring tokens from Chain A to Chain B first deposits the tokens into the bridge contract of Chain A. The contract locks the tokens on Chain A, emitting an event once the deposit is successful. The relayers, off -chain operators of the system, will listen to these events and create a relay transaction to the relay chain . The Relayers propose a vote on the data of the deposit and submit their signatures on the relay chain . Once the threshold is met, one of the relayers or any user can collect all the s...