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Ethereum Developers Aim to Simplify Crypto Wallet Usage with ‘EIP-3074’

Published 05/07/2024, 06:26 PM
Updated 05/07/2024, 06:45 PM
© Reuters Ethereum Developers Aim to Simplify Crypto Wallet Usage with ‘EIP-3074’
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  • EIP-3074 aims to enhance Ethereum wallets by enabling smart contract control.

  • The proposal has received support for improving wallet UX.

  • Despite this, leaders caution against potential vulnerabilities.

With blockchain adoption on the rise, Ethereum developers are reviewing several Ethereum Improvement Proposals (EIPs) for the upcoming major update, Pectra. One such consideration is the EIP-3074 due to its potential to enhance the usability of crypto wallets.

Unlike those managed by smart contract code, the proposal focuses on externally owned accounts (EOAs), which users control through private keys. EIP-3074 seeks to enhance the programmability of these accounts by enabling smart contract authorization for transactions.

Furthermore, this improvement could improve user experience by enabling batching transactions and allowing third parties to cover transaction fees.

“EIP-3074 is coming in the next Ethereum hard fork. This is a big deal. Wallet UX will 10x. Congratulations to Ethereum and the EIP-3074 sponsors. Reth has already implemented and tested it. We are fans. Let’s go,” Paradigm Chief Technology Officer Georgios Konstatonopolous commented on …

The post Ethereum Developers Aim to Simplify Crypto Wallet Usage with ‘EIP-3074’ appeared first on Coin Edition.

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