Nibiru Chain: Technical Features and Security Considerations of Emerging Public Chains

Nibiru Chain, as an emerging Layer 1 public chain, has recently attracted widespread attention. The project has achieved significant community growth within just a month, with its Twitter followers exceeding 500,000. As a new public chain project that has raised over $20 million, Nibiru Chain is committed to addressing security and speed issues in DeFi applications, and is expected to become a potential competitor to a well-known derivatives trading platform.

As the Nibiru Chain plans to launch its mainnet this week, let's delve into the technical features, competitive advantages, and security issues to be aware of in the development of its ecosystem for this rapidly growing Layer 1 project.

Nibiru Chain Core Components

Nibiru Chain's core business revolves around DeFi trading, primarily consisting of the following four key components:

1. Nibi-Perps: This is an on-chain perpetual contract trading system that allows users to trade popular crypto assets with leverage of up to 10x. $NIBI token holders enjoy governance rights and trading fee discounts.

2. Nibi-Swap: The automated market maker protocol of Nibiru, which plans to support two types of liquidity pools: stablecoin exchange pools and regular constant product pools.

3. $NUSD: An over-collateralized stablecoin in the Nibiru ecosystem. Initially, it will support minting using $USDC and $NIBI, and may expand to more collateral types in the future.

4. Nibi-Oracles: Nibiru's native oracle solution achieves high-fidelity integration of off-chain data through validator participation in oracle consensus voting.

2024 Development Plan

The development focus of Nibiru Chain in 2024 includes:

• Integration with major DeFi projects across multiple chains
• Listed on mainstream centralized exchanges
• Complete parallel optimistic execution
• Achieve full EVM compatibility

These plans aim to expand the Nibiru ecosystem and enhance its competitiveness in the blockchain industry.

Secure Development Practices

When developing applications on the Nibiru Chain, developers need to pay attention to the following security practices:

Contract Development Security

1. Attack Prevention: Build scalable smart contracts and develop comprehensive risk response plans.

2. Address Verification Standardization: Pay attention to the case representation differences of Cosmos SDK addresses, and standardization processing is required when handling addresses in contracts.

3. Arithmetic and Overflow Handling: Use CosmWasm's Uint256 and Uint512 types, employing non-overflowing mathematical functions like full_mul().

4. Access Control: Strictly implement access control mechanisms to prevent unauthorized operations.

5. Avoid Infinite Loops: Pay special attention to callback operations in the ACK handler to prevent getting trapped in an infinite loop that exhausts gas.

Project Security Practices

1. Smart Contract Audit: Conduct a comprehensive security audit before deploying on the mainnet to ensure that the code logic is free of vulnerabilities.

2. Multisig Wallet Usage: Using a multisignature wallet to manage project funds and smart contracts, Nibiru Chain has supported the Nomos multisig solution.

Conclusion

Nibiru Chain, as an emerging Layer 1 public chain, provides an innovative platform for DeFi, gaming, and physical assets. It aims to address the accessibility, security, and performance issues of Web3 applications, offering comprehensive services for developers and users. With its mainnet about to launch, Nibiru Chain is expected to play an important role in the blockchain ecosystem.