Several developers propose creating ERC-7265 to address the issue of delayed response in DeFi when facing attacks.
2023-07-04 08:04
Odaily News: Ethereum developers Diyahir, community member Meir Bank from Fluid Protocol, and others have jointly proposed the creation of the ERC-7265 standard. This standard aims to introduce a smart contract interface similar to a "circuit breaker" to the DeFi ecosystem, addressing the common lack of response time when facing hacker attacks.
The logic behind ERC-7265 is that, when integrated with the standard, the "circuit breaker" will monitor the flow rate of each asset within the DeFi system in real-time. When this rate exceeds a predetermined threshold, the smart contract will be triggered, immediately pausing the outflow of tokens from the protocol.
The proposers of this standard believe that with ERC-7265, hackers will no longer be able to deplete the entire contract's funds within a few seconds after executing an attack, thus safeguarding the majority of funds within the DeFi protocol.
The logic behind ERC-7265 is that, when integrated with the standard, the "circuit breaker" will monitor the flow rate of each asset within the DeFi system in real-time. When this rate exceeds a predetermined threshold, the smart contract will be triggered, immediately pausing the outflow of tokens from the protocol.
The proposers of this standard believe that with ERC-7265, hackers will no longer be able to deplete the entire contract's funds within a few seconds after executing an attack, thus safeguarding the majority of funds within the DeFi protocol.
Recommended Articles
