VeChain has proven its blockchain usability with the successful adaptation of ERC-4337, as evidenced by a recent audit in which it received a perfect score of 10.
An in-depth technical audit of VeChain’s Account Abstraction Layer (AAL) was conducted to assess its security, code quality, and documentation depth.
Hacken, a reputable blockchain security auditor, has released the results of their audit on the VeChain blockchain. The comprehensive audit of VeChain’s Account Abstraction, which took place at the end of the year, resulted in a flawless score of 10/10. The introduction of ERC-4337 brought an innovative approach to account abstraction in Ethereum, eliminating the need for Ether tokens for transactional fees. The team behind VeChain claims that this enhancement significantly improves transactional flexibility and smart contract operations.
The audit methodology involved the use of automated tools to identify initial vulnerabilities, followed by manual testing to uncover deeper issues. Manual testing allowed the team to simulate real-world attack scenarios. The team shared their initial findings and insights, stating that they discovered a medium-severity issue related to redundant gas reservation, which could affect transaction efficiency. They also identified low-severity issues such as potential execution reversion due to incorrect revert reason sizes and inconsistencies in user operation hash generation.
The VeChain team was promptly informed about these issues, and they quickly addressed them. VeChain listened to the recommendations from the security audit and made improvements to its system. As a result, the overall functionality and security of VeChain were given a perfect score of 10 out of 10. The specific changes implemented include optimizing the system’s gas usage for improved efficiency, enhancing error handling, and enhancing data verification code generation. VeChain also adopted new best practices for writing and documenting secure smart contracts.
The audit report concludes that it played a crucial role in strengthening the security and functionality of VeChain’s Account Abstraction Layer. It also emphasizes the importance of thorough security audits in building robust blockchains. The report highlights VeChain’s commitment to constant improvement and innovation in its technology.
Despite the release of this report, there has been no significant price reaction, and VeChain’s native token VET has experienced a 3% drop in the last 24 hours, currently trading at $0.04683.
After a strong performance in recent weeks, the token is undergoing a correction. Some savvy investors are taking advantage of this opportunity to accumulate more tokens before the next breakout. Importantly, VeChain has celebrated significant developments in recent months that could drive adoption and increase prices.
One notable development is the launch of VeBetterDAO, a sustainability dApp ecosystem powered by $B3TR and $VOT3 tokens. This platform will help accelerate sustainability by allowing the community to engage, earn rewards, and promote sustainability while growing the ecosystem. Additionally, VeChain (VET) has been selected as one of over 10 renowned organizations and institutions to form a task force for integrating AI and blockchain.
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