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- VeChain is demonstrating blockchain usability with the ERC-4337 adaptation, as proven by a recent audit in which it scored a perfect 10.
- A technical audit of VeChain’s Account Abstraction Layer (AAL) was designed to evaluate its security, code quality, and documentation depth.
Hacken, a trusted blockchain security auditor, has unveiled the results of their recent audit of the VeChain blockchain. Conducted at the end of the year, a comprehensive audit of VeChain’s Account Abstraction, resulted in a perfect 10/10 score. The ERC-4337, introduced an approach to account abstraction in Ethereum, removing the need for Ether tokens for transactional fees. According to the team, this significantly enhances transactional flexibility and smart contract operations.
The auditing reveals that the methodology utilized began with automated tools looking for initial vulnerabilities, followed by manual testing looking to identify deeper issues. By doing manual testing, the team was able to test on real-world attack scenarios. Speaking on the initial findings and insights, the team noted:
We found a medium-severity issue related to redundant gas reservation, which could impact transaction efficiency.
Low severity issues included potential execution reversion from incorrect revert reason sizes and inconsistencies in user operation hash generation.
These issues were highlighted to the VeChain team, to which the development team was prompt to address. The team explains that VeChain listened to the recommendations from a security audit and made improvements to its system. This resulted in a perfect score of 10 out of 10 for both overall functionality and security. The specific changes included making the system more efficient by optimizing how it uses gas and improving how it handles errors and generates data verification codes. VeChain also adopted new best practices for writing and documenting secure smart contracts.
🛡️ Dive into our latest case study on the audit of @vechainofficial Account Abstraction Layer – achieving a perfect 10/10 score!
Discover how VeChain is advancing blockchain usability with ERC-4337 adaptation, enhancing both security and user experience👇https://t.co/hdaEuSH1bZ
— Hacken🇺🇦 (@hackenclub) March 7, 2024
The report concludes that the audit was key to bolstering the security and functionality of VeChain’s Account Abstraction Layer. The report further demonstrates why thorough security audits are essential for building strong blockchains. Furthermore, it highlights VeChain’s focus on constantly improving and innovating its technology.
This report has failed to garner a price reaction, with VeChain’s native token VET failing to stage a market rebound. At the time of writing, VET is trading at $0.04683 after a nearly 3% drop in the last 24 hours.
After impressing for the past couple of weeks, the token has been correcting. Some smart investors are taking advantage of reaccumulating ahead of the next breakout. Significantly, the project has in recent months celebrated key significant developments that could drive adoption and drive prices higher.
One notable development is the launch of VeBetterDAO, a sustainability dApp ecosystem powered by $B3TR and $VOT3 tokens. The new platform will help accelerate sustainability by enabling the community to engage, earn, and prosper while promoting sustainability and growing the ecosystem. Furthermore, VeChain (VET) has been chosen among over 10 renowned organizations and institutions to form a task force for AI and blockchain integration.