Rollback vote result and next steps
Haven Protocol will Rollback Chain to Block 886575 (June 27th)
Beginning on June 22, 2021, malicious hackers attacked Haven Protocol, exploiting several related vulnerabilities. Following an extensive investigation, we conducted a wide-ranging review of the protocol and processes to ensure as smooth as possible recovery from the exploit.
We proposed a chain rollback to remove most of the inflation caused by specific exploits, particularly those with an unknown amount.
Our investigation determined that the optimal rollback point is block 886575 (June 27, 2021, at 22:21:08 UTC).
On 8th July we conducted a 24-hour Discord ballot to gain consensus from the Haven Protocol community, which voted 95% in favour of a rollback (700+ votes). As a result, on 20th July the rollback and hard fork were successfully deployed.
Details can be found here: https://havenprotocol.org/2021/07/20/haven-protocol-successfully-deploys-rollback-hard-fork/
A rollback is where a blockchain is cut as part of a hard fork. Any transaction after the point where the chain is rolled back would be lost, and in effect reversed. It would be as if the ledger is rolled back in time.
While this is an extreme response that would typically impact a large number of users, in this case, we significantly mitigated the exploits by closing deposits and withdrawals on exchanges to minimize the movement of funds on the chain. Transactions within an exchange’s closed system are managed on each exchange’s database, not on the chain, so they should not be affected by the rollback. We are working with mining pools to distribute compensation from the Haven Protocol development fund to miners who support the network after block 886575.
We are pleased to be able to reveal that over the past several weeks, Haven Protocol has been performing discovery work with Cypher Stack, a firm specializing in cryptographic security and research to ensure their cryptographers have a full understanding of the Haven Protocol mathematical models, and enable them to perform a cryptographic analysis and protocol review of Haven 2.0.
A contract is now in place to complete this work. Cypher Stack is now working with us to produce a cryptographic technical analysis of the areas of Haven protocol relevant to proof/signature construction, verification, and/or balance soundness, as well as looking for potential future improvements.
About Cypher Stack
Cypher Stack specializes in cryptographic research, with a focus on security proofs, for blockchain projects and distributed systems. Cypher Stack employs cryptographers with the knowledge and passion to push projects to new heights of innovation and security. In addition to the firm’s cryptographic work, Cypher Stack also specialize in digital design, utilities, and infrastructure services.
You can learn more about Cypher Stack here: https://cypherstack.com/
The team and community recognize that many of the mitigation actions taken are reflective of centralized protocols. As outlined in The Path Ahead this past April, Haven Protocol’s goal has and continues to be to move towards an entirely decentralized future.
In the meantime, the team and community elected to make difficult decisions to secure the chain and protect new and old investors alike. These actions will make it possible to achieve Haven Protocol’s mission while giving community members the highest degree of confidence in the integrity of their holdings.
The team continues to be greatly appreciative of the support and assistance received from the Haven Protocol community. We remain more committed than ever to building the future of private money.