Ethereum News Daily TheBitTimes.com

The two networks will share profits and governance using multi-signature wallets, and a ‘Security Council’ will be formed as the ecosystem grows. Developers behind the Base and Optimism networks have jointly announced a revenue -sharing and governance -sharing agreement. Coinbase, the parent company of Base, has also published a list of “principles of neutrality” it will follow to prevent Base from becoming centralized. This announcement was made through three separate blog posts on Aug. 24; one from the jointly-controlled Optimism Collective, one from Base, and one from Coinbase. According to the jointly-controlled Optimism Collective’s post, Base’s smart contracts can only be upgraded via a 2/2 multi-signature wallet account. One signature is controlled by Base and the other by the Optimism network’s team (called the “Optimism Foundation”). This means that Base cannot be upgraded without the consent of the Optimism team. As more chains opt to use the OP Stack and become part of the ...

A total of 517,000 token votes favored the proposal, with none opposing it. The governance tokenholders of Tornado Cash will soon regain control over the protocol’s operations, thanks to an unexpected proposal put forward by the attacker. This development allows the community to regain authority and steer the protocol toward recovery and improved security measures. On May 26, the proposal to restore control to the original governance tokenholders of Tornado Cash passed successfully. A total of 517,000 token votes favored the proposal , with none opposing it. This resolution brings a swift conclusion to a governance takeover that, fortunately, did not impact the protocol itself, but did lead to the theft of specific governance tokens. A screenshot showing the voting results. Source: Tornado Cash By successfully orchestrating a takeover of the protocol’s governance system, the attacker maneuvered a malicious proposal that granted them 1.2 million votes. Leveraging this significant...