The new ERC-4337 'account abstraction' standard will be launched at WalletCon in Denver today. It provides Ethereum accounts with all the features of a bank account: 2FA, password recovery and set spending limits.
Account abstraction also enables the unique cryptographic keys used for cryptocurrency to be stored on standard smartphone security modules, upgrading them to de facto hardware wallets. However the screen remains a security issue compared with traditional hardware wallets and gas costs could be prohibitive on mainnet initially — although other EVM chains and Layer 2s have low enough fees to make it viable.
It also enables the use of two-factor authentication; signing transactions on your phone using a fingerprint or face-scan; the setting of monthly spending limits on an account; and the use of session keys to play blockchain games without constantly having to approve transactions. Users who lose their phone or device can use time-locked social recovery of their account via a group of trusted friends or even a commercial service. Weiss said:The standard has been in development for two years with the team funded via grants from the Ethereum Foundation. While similar functionality is available on smart contract wallets from Argent and Gnosis, these solutions require centralized components called relays to pay gas fees whereas ERC-4337 decentralizes the entire system.
There have been numerous proposals to enable account abstraction prior to this but all required a difficult hard fork of Ethereum, and took a back seat to more pressing upgrades like the Merge. ERC-4337 is an alternate approach that makes use of decentralized infrastructure called “bundlers.”Here are a few of the things you can do to make the most of it:
Brasil Últimas Notícias, Brasil Manchetes
Similar News:Você também pode ler notícias semelhantes a esta que coletamos de outras fontes de notícias.
Ethereum Activates ‘Account Abstraction,’ Touted by Founder Buterin as Key AdvanceThe news of the upgrade, via the deployment of ERC-4337 as a smart contract, will be shared at an ETHDenver-related event, known as WalletCon.
Consulte Mais informação »
Ethereum’s Regens Tend to Ethereum’s Public Goods'Radical permissionless is sacrosanct in crypto cultures. It is non-negotiable, like decentralization or censorship resistance' polarpunklabs and gitcoin's notscottmoore write. Because anyone can use Ethereum, it must be treated as a commons. Opinion.
Consulte Mais informação »
Cathie Wood: Bitcoin and Ethereum are ‘on the right track,’ despite collapse of several crypto companiesEther has been ushering in a financial services “revolution,” said Cathie Wood, chief executive at ARK Invest. Wood’s flagship Ark Innovation ETF fell more than 67% in 2022, but has regained about 24% so far this year.
Consulte Mais informação »
Second Ethereum Testnet Successfully Simulates Shanghai Hard ForkEthereum's Sepolia testnet successfully simulated staked ETH withdrawals, bringing the blockchain one step closer to its highly anticipated Shanghai Upgrade, cryptauxmargaux reports
Consulte Mais informação »
Ethereum testnet successfully forks in Shanghai upgrade rehearsalEthereum's Sepolia test network has undergone the 'Shapella' upgrade, simulating the Shanghai and Capella hard forks slated for the mainnet next month.
Consulte Mais informação »
Ethereum takes step closer to Shanghai-Capella with deployment on Sepolia testnetEthereum developers have taken another step towards Shanghai-Capella upgrade by deploying it on the Sepolia test network.
Consulte Mais informação »