In addition to its extreme volatility, the crypto market remains very competitive. The user experience is one of the favorite fields on which this competition between companies in the cryptosphere is played out. These also compete in ingenuity to allow users to benefit from the best possible experience. Ethereum is one of the most involved in this logic.
At Ethereum, a migration to smart contracts?
The team behind the Ethereum blockchain is always making progress in developing solutions and services. She announced, Thursday, March 2, the launch of“EntryPoint”, a new operational functionality on the network. This is an update that allows user wallets to function as smart contracts.
It should be understood that carrying out certain operations on Ethereum involves risks for users. Indeed, the platform had a limit that made it impossible to dissociate an account from its signatory. This cryptographic tool, made up of a pair of public and private keys, was one of the flaws in the accounts. This is because if lost, users could permanently lose access. It is therefore to solve this problem that EntryPoint was born.
The functionality is based on the principle of account abstraction. This consists of transforming Ethereum’s externally owned accounts (EOA) into smart contracts. Clearly, this is a measure that now makes it possible to recover an inaccessible Ethereum account. A major advance that will certainly simplify operations such as automated payments on this blockchain.
“The big immediate impact this will have on the ecosystem is to give wallet infrastructure providers more options to deliver smart wallet features like account recovery, native multi-sigs and hedging fees. gas for users »said Michael Lewellen, Head of Solutions Architecture at OpenZeppelin.
According to the manager, this feature goes a little further. This is because it can be used as an alternative recovery method on Ethereum-based wallet accounts. Ultimately, Ethereum expects a marked improvement in the user experience. A dynamic on which it relies to attract new ones.
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