Ethereum’s Pectra upgrade, scheduled for late 2024 or early 2025, comes with additional functionality for crypto wallets and user experience (UX) upgrades.
3074 Ethereum Improvement Proposals (EIP) receivedApprovalto be included in the next update, which willhelpRegular digital wallets work like smart contracts.
One of the functions of EIP-3074 is to provide standard externally owned accounts (EOA) to traditional wallets such as the Metamask wallet and smart contract capabilities, which enable functions such as transaction pooling. So users only sign in once. and supports transactions where the wallet can entrust funds to others for use, similar to the account abstraction introduced in ERC-4337.
DefiLlama developer 0xngmi stated in the post.On April 11, (all tokens, all NFTs, all DeFi positions…) using one bad signature.”
Harrison Leggio, co-founder of Gaslite writein X whether this security concern exists in the update. But people always find ways to lose their money.
“People often give their PRIVATE KEY to trading bots,” he adds.
Other defined functions of EIP-3074 include a social recovery feature that eliminates the need for a 12- to 24-word seed phrase.
Cygaar Web3 Advisor explainOn
AUTH verifies signatures and actions, while AUTHCALL “calls the target contract with the caller’s address” rather than the message sender, Cygaar wrote.
refer : cointelegraph.com
picture crypto-economy.com
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