Nethermind Mandatory Hotfix Release

Nethermind encountered a bug in its client versions 1.23 to 1.25. Affected node operators are required to upgrade to version 1.25.2.

Nethermind Mandatory Hotfix Release

Quick Take

  • Nethermind hotfix client release.
  • Pimlico launches stateful bundle compression.
  • Axiom deploys its V2 on mainnet.
  • Offchain Labs discusses chain-clusters.

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Nethermind Mandatory Hotfix Release v1.25.2

Nethermind, a minority Ethereum execution client, encountered a bug in its client versions 1.23 to 1.25, affecting consensus. The bug led to validators going offline, resulting in missed blocks and attestations. As a short-term solution, impacted validators were advised to either switch clients or use Rescue Node. In response, Nethermind promptly issued a patch release within 4 hours of the first bad block caused by the bug. Ethereum node operators using the vulnerable Nethermind client versions are required to upgrade to version 1.25.2. Versions earlier than v1.22 remain unaffected. Geth's dominance as the supermajority execution client has surged to an estimated 84%.

Pimlico Launches Stateful Bundle Compression

Pimlico implemented stateful bundle compression on its ERC-4337 bundlers. The implementation allows developers to reduce the data size of their smart contracts, leading to a savings of up to 80% in gas fees for user operations carried out on rollups. Pimlico aims to addeess the high gas fees linked to smart account transactions compared to EOA transactions. Pimlico also released a new version of its permissionless.js TypeScript library with support for the compression feature. Pimlico is an account abstraction infrastructure provider offering ERC-20 paymaster and ERC-4377 bundler services. A bundler refers to a system that batches user operations for block inclusion, enabling account abstraction for smart accounts.

Axiom V2 Live On Mainnet

Axiom launched the second iteration of its protocol that facilitates access to and computation of historical Ethereum state data. The V2 release expands support for transactions, receipts, and Solidity mappings in addition to previously accessible data types such as account details, contract storage, and block headers. Smart contracts can now compute or query on a range of historical data, including past transactions, account states at various times, and historical event logs. Developers can now use historical data to analyzing assets performance over time or implement DAO vote weight based on past participation. By using ZKPs for verification, Axiom V2 aims to reduce costs for data access.

Coinbase Comment Letter To U.S. Treasury

Coinbase published a comment letter to the U.S. Treasury in response to a proposed rule by FinCEN that would require financial institutions to report all transactions involving cryptocurrency mixing. Coinbase argues that the proposed rule would lead to the bulk reporting of data, including non-suspicious transactions. Coinbase says there is no regulatory gap or need for the new rule, but if it is required, it should at least have a minimum dollar threshold, be only a recordkeeping requirement, and should provide institutions with ample time to implement new requirements. The rule was proposed by FinCEN last October.

Security Considerations For Chain-Clusters

Offchain Labs is working on its design of Chain-Clusters, which is a network of L2 or L3 chains that enable trustless and fast cross-chian communication. The design could enable cross-chain token transfers between L2/L3 chains in the cluster. Chains in a cluster would need to have joint settlement and joint governance. The security of any chain in a cluster would also only be as strong as the weakest chain since failures would propagate to all of the chains. Offchain Labs plans to publish addition writtings on chain clusters in the coming months.

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