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Unfreezing Funds on zkSync: Gemholic Contract Smart Contract Issue Resolved

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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 cont

Unfreezing Funds on zkSync: Gemholic Contract Smart Contract Issue Resolved

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

Introduction

On April 7th, 2021, zkSync, a Layer 2 scaling solution for Ethereum, announced that they had found a solution to unfreeze the contract for Gemholic, a multi-in-one platform that had encountered a smart contract issue. Funds totaling 921 ETH tokens had been frozen due to an error in the use of the transfer() function in the contract. However, the issue has since been resolved and detailed information will be released soon. This article will delve into the problem and the solution, exploring the implications of gas-related issues on the entire protocol.

Understanding the Issue

The problem arose when Gemholic used the transfer() function to sell financing cards for 921 ETH tokens into the contract hosted on zkSync. This function is commonly used to transfer ETH or ERC-20 tokens from one wallet to another. However, the use of transfer() caused a smart contract issue that resulted in the funds being frozen.
This issue was caused by gas measurement and related issues within the protocol. Gas represents the fee that users are charged to execute a transaction on the Ethereum network. The amount of gas required varies depending on the complexity of the transaction. However, in this case, the measurement of gas was not accurate, leading to the freezing of funds.

Solving the Problem

Fortunately, zkSync has announced that a solution has been found to unfreeze the contract. This will require minimal changes to the gas measurement of the protocol. The solution will allow for the full recovery of funds, providing peace of mind for those affected by the smart contract issue.
The significance of this solution cannot be understated. Gas-related issues have long plagued Ethereum and other blockchain solutions. By providing a fix that can solve a wider range of gas-related issues, zkSync may have opened the door for other developers to find similar solutions, ultimately improving the entire blockchain ecosystem.

Conclusion

The unfreezing of funds on zkSync is a major step forward for the platform and the broader blockchain community. While the issue may have been caused by a simple programming error, it highlights the importance of proper gas measurement in smart contract execution. With the solution now in place, developers can move forward with peace of mind, knowing that they have a reliable solution to gas-related issues.

FAQs

1. What is zkSync?
zkSync is a Layer 2 scaling solution for Ethereum that provides fast, low-cost transactions.
2. What is a smart contract issue?
A smart contract issue is a problem that arises from a programming error in the code of a smart contract.
3. Will the fix affect other smart contracts on zkSync?
The solution found by zkSync will only require minimal changes to the gas measurement of the protocol, so it should not have any significant impact on other smart contracts using the platform.

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