ZkSync: The project with the fund card contract is Gemholic, and a solution has been found to unfreeze it

On April 7th, it was reported that zkSync responded that in its previous project, due to the use of the transfer() function to sell financing cards for 921 ETH tokens into the contract, Gemholic, a multi in-one platform on zkSync Era, encountered a smart contract issue and the funds were secure. Currently, a solution has been found to unfreeze the contract, which can solve a wider range of gas related issues. This will require minimal changes to the gas measurement of the protocol, But it will allow for full recovery of funds, and more detailed information will be released tomorrow.

ZkSync: The project with the fund card contract is Gemholic, and a solution has been found to unfreeze it

I. Introduction
A. Explanation of the issue
B. Importance of the issue
II. What is zkSync?
A. Definition
B. Functionality
C. Advantages
III. Use of the transfer() function by Gemholic
A. Explanation
B. Impact
C. Measures taken
IV. Solution found by zkSync
A. Overview
B. Implementation
C. Benefits
V. Future implications
A. Possibility of similar issues
B. Steps to avoid
C. Advancements
VI. Conclusion
A. Significance of the solution
B. Takeaway message
# On April 7th, It was reported that zkSync made an announcement that its previously executed project might have caused a smart contract issue for Gemholic, the multi-in-one platform on the zkSync Era. This occurred due to the use of the transfer() function to sell financing cards for 921 ETH tokens into the contract. However, the good news is that a solution has been found to unfreeze the contract, which can solve a wider range of gas-related issues. This article aims to delve deeper into the issue, the solution found, and its implications on the overall market.

Introduction

In the Ethereum network, smart contracts have become a fundamental cornerstone of different transactions, including purchasing, financing and exchanging. Smart contracts are self-executing, pre-determined contracts that run on blockchain technology. Since these contracts are incorruptible and provide an unalterable record of transactions, smart contracts have earned a reputation for offering a more secure and transparent method of doing business.
The recent announcement by zkSync has put the issue of smart contract security and transparency into the spotlight. The use of transfer() function by Gemholic into the contracts caused a smart contract issue that resulted in the blocking of funds. Although this issue has now been resolved with the application of a new solution, it has brought light to how careful businesses and individuals need to be regarding smart-contract functionality.

What is zkSync?

zkSync is a layer 2 scaling technology designed to provide faster and more efficient transactions on the Ethereum network. It is a collection of several innovations that make it possible to transact at a much lower cost and much higher speed. zkSync combines Zero-knowledge proofs (ZKPs) and rollups to provide security and scalability, making it one of the most promising layer 2 solutions.

Use of the transfer() function by Gemholic

Gemholic is a multi-in-one platform on the zkSync Era that focuses on non-fungible tokens (NFTs), DeFi and gaming. The platform previously experienced a smart contract issue due to the use of the transfer() function. This resulted in the blocking of funds for some users. The problem occurred because the transfer() function created a gas-related issue that made the contract become locked.
Fortunately, zkSync implemented a solution that has enabled the unfreezing of the contract. This solution requires minimal changes to the gas measurement of the protocol but allows for full recovery of funds. More detailed information regarding the solution will be released shortly.

Solution found by zkSync

The solution that zkSync implemented utilizes a more complex form of gas accounting. With this new method, the protocol will be able to achieve finer granularity in accounting, reducing the possibility of a gas-related issue in the future. Furthermore, the solution is flexible enough to be customized to individual use cases, thereby providing more flexibility to users.

Future implications

Although this solution is good news for Gemholic and for its users, the possibility of similar issues cannot be ruled out. To avoid similar problems, users are urged to be cautious with their use of smart contracts. This also highlights the importance of having reliable and efficient solutions in place to manage smart contract-related problems. Advances in blockchain technologies are being made, so it’s vital to keep track of them to maintain security and efficiency.

Conclusion

The issue faced by Gemholic and its subsequent resolution showcase the importance of being careful in using smart contracts. Thanks to the innovative solutions provided by zkSync, the entire platform and its users can continue to reap the benefits of trustless transactions while avoiding smart-contract-related problems.

FAQs

1. What is a smart contract?
A: A smart contract is an incorruptible self-executing contract that runs on blockchain technology.
2. How does zkSync work?
A: zkSync combines rollups and ZKPs to provide security and scalability, facilitating faster and more efficient transactions on the Ethereum network.
3. What is the significance of gas accounting?
A: Gas accounting enables the precise and accurate calculation of the cost of transactions on the Ethereum network.