EIP Security Analysis: Application Program Standards, Attack Events, and Security Vulnerabilities
Xueyan Tang, Yuying Du, Z Wang, Shawn Chong · 2023
With the ongoing advancement and widespread adoption of blockchain technology, Ethereum has established itself as the foremost platform for executing smart contracts.As a focal point of the industry, the security and stability of the Ethereum ecosystem have become crucial. Ethereum Improvement Proposals (EIPs) play a vital role in promoting the technological progress of Ethereum and providing direction for innovation in the blockchain field. ERCs, as a type of EIP, define application-level standards and conventions that are crucial for promoting innovation and ensuring the scalability and maintainability of the system. In particular, some ERCs, such as the ERC-20 token standard, have become the foundation of the Ethereum ecosystem. However, if EIPs have security issues, any security vulnerabilities or design flaws can have severe consequences, including financial losses, data leaks, and damage to the reputation of the entire Ethereum network. This paper primarily focuses on the security analysis of application standard proposals (ERC). We conducted research on the current state of EIP security, performed case studies, and provided security recommendations. The goal is to gain a comprehensive understanding of the security features and potential risks of these proposals, and to propose practical solutions to enhance the security of EIPs.