Update: The EOS Recover+ Portal was launched in Q3 and can be found at eosrecover.com.
Recover+ is a working group and community initiative that was started to help the EOS community establish a formalized hacking incident response process. Through improving communication among major EOS block producers and project developers, Recover+ will create a safer and more reliable enterprise environment for businesses building on the EOS network.
Blockchain and smart contracts have ushered in the Web3 era, a new iteration of the world wide web that hosts decentralized applications that run on blockchain technology, allowing users to become not only participants in the network, but actual owners. In the process, virtual assets are growing at a rate never seen before, and with this growth comes an ever-increasing number of hacking incidents. Hacking is a neutral concept. It can help a project to perfect its contract code, or it can destroy a business with a bright future in an instant.
The Delegated Proof-of-Stake (DPoS) consensus protocol designed for highly scalable blockchains such as EOS enables the network to leverage its own unique DAO governance system to provide a greater level of security and stability for its users.
The Recover+ initiative was launched with the aim of laying the foundations needed for building a better future for individual projects, white-hat hackers, and the EOS network itself. A future that thrives and is free from the constant fear of smart contract vulnerabilities.
We want people to better understand the system, both in terms of its stance on intent of code is law, and how this is reflected in day to day operations. This Blue Paper will delve into the historical attempts at asset recovery on the EOS Mainnet, comparing these to some notable hacks on other chains and how they were responded to.
The official launch of the Recover+ portal will follow suit after the release of the Blue Paper. Further details and explanations of the features of the initial version of the Recover+ Portal and their intent, as well as a future roadmap are also found within this Blue Paper.
The purpose of this Blue Paper is to examine how to build an asset recovery framework for hacking incidents around the DPoS governance system of EOS, which can be reflected in the product logic and functionality of the Recover+ Portal.
The discussion in this paper will include the rationale for asset recovery against malicious attackers through governance on the blockchain network, feasible recovery methods, and the expansion and upgrading of tools. The core argument of this paper is that the DPoS protocol has good potential in the face of hacking incidents, and that with a reasonable framework, the EOS community and active block producers can avoid the technical and ethical disasters caused by over-governance while minimizing the impact of hacking attacks on the network and applications deployed on the network.
A key point for the Recover+ working group and the EOS governance system itself is that we do not seek complete coverage of hacking incidents on the EOS chain. Prudence and restraint should always be exercised regarding the resolution of hacking attacks through the EOS governance system. The goal of governance for hacking incidents should be set at avoiding hacking attacks that affect the long-term growth and stability of the network. This goal is similar to central banks setting their policy goals on maintaining moderate inflation, low unemployment, and avoiding economic crises, rather than seeking complete inflation-free and zero unemployment. The core of blockchain network maintenance is the maintenance of consensus.
The Recover+ Portal not only provides a gateway for users to initiate governance proposals, but more importantly, provides a window to record and display relevant information and governance processes; allowing the EOS community to maximize understanding of projects, events, and related block producer decisions on the Recover+ Portal. In addition to functional development, the Recover+ working group will also actively collect community questions, improve its FAQ section, and conduct activities such as AMAs at appropriate events.
The EOS Network is a 3rd generation blockchain platform powered by the EOS VM, a low-latency, highly performant, and extensible WebAssembly engine for deterministic execution of near feeless transactions; purpose-built for enabling optimal web3 user and developer experiences. EOS is the flagship blockchain and financial center of the EOSIO protocol, serving as the driving force behind multi-chain collaboration and public goods funding for tools and infrastructure through the EOS Network Foundation (ENF).
The EOS Network Foundation (ENF) is a not-for-profit organization that coordinates financial and non-financial support to encourage the growth and development of the EOS Network. The ENF is the hub of the EOS Network, harnessing the power of decentralization as a force for positive global change to chart a coordinated future for EOS.