The co-founder of Ethereum (ETH) proposed an alternative to EIP-3074. According to him, it will increase the security of the network and minimize risks for the main developers.
Buterin's idea envisions a new type of transaction, similar to EIP-2930. The proposal includes additions such as a contract code line and a signature.
How Vitalik's proposal will improve security
To increase flexibility and security, the process of working with a contract should separate the roles of the contract code signer and the transaction source, Vitalik believes. According to the programmer's idea, it works something like this:
- the system checks that the contract code that must be signed is empty;
- fills it with the specified contract code;
- at the end of the transaction, the code is reset back to an empty state.
Buterin's proposal promises full compatibility with current EIP-3074 workflows. But at the same time it offers their simplification. Thus, the complex AUTH and AUTHCALL commands can be replaced with simpler verification and execution functions that are associated with external managed accounts (EOA). This change will maintain the integrity of the operation and improve the efficiency of the authorization process.
According to Vitalik, his approach involves minimal requirements for adaptation and integration. The EIP-3074 maintains forward compatibility with the end account abstraction and also avoids the addition of new operating codes. All this will prevent unnecessary complications in the future development of the blockchain.
In addition, Buterin's initiative also allows EOAs to temporarily act as contracts, ensuring compatibility with the current EntryPoint architecture.
However, as the programmer noted, his alternative to the current EIP-3074 has potential drawbacks. In particular, these include the problem of trust in managed parts of the code and possible centralization.
WalletConnect co-founder Pedro Gomez supported Vitalik’s proposal:
The Ethereum community is now preparing for the next network upgrade, Pectra. It is scheduled for late 2024 or early 2025. As part of the upgrade, the developers plan to introduce EIP-3074, aimed at introducing new features for crypto wallets.
Two key features of the proposal are a social recovery tool and the ability to conduct transactions without ETH on the balance. Innovations will significantly reduce barriers to entry into the network of the second largest cryptocurrency by capitalization for beginners.
Source: Cryptocurrency
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