Ethereum [ETH] Blockchain to get better clone contract functionality soon
EIP 1167: Minimal Proxy Contract created by Peter Murray, Nate Welch, and Joe Messerman entered ‘last call’ on Thursday. The community can give feedback through the Ethereum Improvement Proposal for the next two weeks. The code will be considered final after the said timeframe. The EIP will get draft status again in case it gets rejected by the community, according to ETHNews.com.
The proposed standard aims to cut down gas prices in cloned contracts. With EIP 1167, any number of cloned contracts can redirect calls to one known address (master contract). The users can trust the process given the master contract would act the same way as the redirecting contracts.
The code leverages its immutability feature to be trustable. The code cannot be altered after its deployed on the master contract and the master contract is irreplaceable. Also, all cloned contracts will cease to work if the master contract self-destructs.
This feature may earn user’s trust but its also the main drawback, according to ETHNews. The Parity multisignature fiasco, though it was not about cloned contracts, it showed the vulnerability of relying on a central contract.
“All of Parity’s multisig wallets linked back to one library contract, but there was a vulnerability that led to the contract’s self-destruction. All 587 wallets connected to the library, which together contained a total of 513,774.16 Ether, were frozen,” the site noted.
Social coder and writer Giveth Bowen told ETHNews that “cloned contracts are not replications of master contract through this EIP but are minimal proxies that allow a coder to compress a bulky contract to its essential parts.” The minimal proxies rely on the master contract for full functionality.
Sanders explained: “[As it is,] thousands and thousands of contracts are routinely cloned, taking up unnecessary space and bloating the data segment of the blockchain. This data space could be used for things other than multiple clones of the same contract. There are certain contracts which need to be cloned for usage and security, such as with the ConsenSys or Gnosis multi-signature wallets, but many cases of these clones could re-use the original contract with a proxy contract routing the calls in and out of the original. This would save huge amounts of space.”
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