A protocol pause is a temporary cessation of a blockchain protocol’s operations or specific functionalities, typically implemented in response to critical security issues or unforeseen events. This action is usually initiated by a governance mechanism or a designated administrative entity to prevent further damage or exploit. It serves as a safety measure to allow for investigation and remediation of underlying problems. Resuming operations requires a deliberate decision based on the resolution of the identified risks.
Context
Protocol pauses are presently a significant point of discussion following instances where network functionalities were halted to address emergent vulnerabilities. A key debate revolves around the centralization of power implied by such pausing mechanisms and the potential for their misuse. Future developments to watch include the refinement of decentralized governance models that can trigger and manage pauses with greater community consensus and transparency.
A sophisticated social engineering attack leveraged a compromised Zoom client, granting delegate control over a Venus Protocol user's account and putting $13 million at risk.
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