Ethereum
$588.72 6.71%
ETH · 4w

DeFi devs may save months of work with OpenZeppelin’s operations platform

OpenZeppelin, a blockchain software company known for developing one of the most used implementations of the Ethereum ERC-20 contract, announced on Tuesday the release of a developer suite called Defender.

The tool helps automate many of the development operations associated with running Ethereum-based decentralized apps. It provides a simple dashboard to manage upgrades and admin operations for existing smart contracts, which can help developers keep track of changes.

Other features include a transaction relayer that simplifies integrations with web-based back ends, automated tasks like logging or oracle updates, and a general knowledge base of best practices in development.

The company says that normally, these features need to be developed independently by every team, which diverts time and effort from actual smart contract deployment.

OpenZeppelin’s chief technology officer, Jonathan Alexander, told Cointelegraph that this suite could help mitigate hacks in decentralized finance:

“Multiple exploits we’ve seen in DeFi this year, such as those in YAM, Uniswap, dForce, and Hegic, could have been avoided or reduced by following a careful security process, but teams lack a comprehensive system that fully informs them on security best practices and how to assess risk.”

The knowledge base shows how to mitigate some of the core issues that led to hacks such as the reentrancy attack used on dForce, according to a presentation shown to Cointelegraph.

Beyond the ease of access to best practices, Alexander said that a quick response tool could have reduced the loss of user funds in situations similar to the bZx and Opyn hacks.

The team decided to build the tool following conversations with developers, who “were spending months and months of precious time trying to build their own infrastructure and tools,” Alexander said. “OpenZeppelin Defender is the first SecOps [security operations] platform for Ethereum and as such ...

Continue on cointelegraph.com
Recent news
ETH +6.71% · btcpeers.com · 1h

Hamster-powered marble races come to Ethereum

After just over two years of development, a new model for gaming has finally arrived in the Ethereum sector on the mainet, dubbed “Mia & the Marbles.” The project is powered by Mia, a female djungaria...
ETH +6.71% · en.cryptonomist.ch · 2h

Pizza Hut now accepts crypto payments

The news about the well-known restaurant chain, Pizza Hut, which has started to accept several cryptocurrencies in all its premises in Venezuela.
ETH +6.71% · defirate.com · 4h

Yearn Finance Merges DeFi

In an extremely eventful week, Yearn Finance partners with notable DeFi projects such as CREAM, Cover, and Pickle.