Yoav Weiss, a developer for Ethereum (ETH), has outlined the vision of the Ethereum team to improve smart contract interactions and decentralized applications (dApps) by creating a standard known as ERC-4337. This norm facilitates smart contract crypto wallets on the Ethereum blockchain, where assets are controlled via smart contracts instead of externally owned accounts (EOAs). It adds a new element called a UserOperation, which plays the role of pseudo-transaction. UserOperations reside in alt mempool until confirmed, making the operations to be more efficient for them.

The development of ERC-4337 is an effort by the Ethereum team, which includes Vitalik Buterin, to try to solve the problems of the existing account models. These endeavors target making Ethereum much more efficient and user-friendly, especially in dApps and smart contract interactions. Further, the ERC-4337 standard will make it easy for end users to have a more consistent experience across different applications on the Ethereum blockchain.

New Ethereum Proposal to Streamline L2 Networks

As a follow-up to the ERC-4337 effort, the Ethereum roadmap includes the launch of Rollup Improvement Proposals (RIPs), with RIP-7560 being one of the most significant. This proposal introduces native account abstraction (AA) over Layer 2 (L2) networks. This is because it seeks to integrate the different custom AA implementations that are found across different L2 solutions. RIP-7560 will be split into several triplets that will target specific use cases like validation processes, 2D nonces, aggregation techniques, and upgrades for externally owned accounts (EOAs).

Migration towards native AA on L2 chains requires fine-tuning RIP-7560 to facilitate a smooth and efficient deployment. This migration process will improve the overall efficiency of the network and the users’ experience. Besides, it will continue to be compatible with Ethereum’s Layer 1 (L1,) enabling a consistent approach to migration across the network.

Vitalik Buterin Proposes Major Ethereum Account Upgrades

Vitalik Buterin has outlined four main goals for the future development of the Ethereum account system. Such features are key rotation and deprecation, quantum resistance, batching ability, and sponsored transaction support. Regarding the restrictions and constraints of the externally owned account (EOA) model at present, Buterin’s vision is centered on the shift to smart contract accounts (SCAs) that could provide better security and functionality.

The Ethereum core team is focusing on enhancing user experience through incremental feature upgrades in the short term while also pushing forward with a more comprehensive long-term strategy for the platform’s evolution. Collaboration with L1 core developers, L2 developers, and the broader community is essential to refine RIP-7560. Feedback from developers working on the Ethereum Object Format (EOF) is particularly valuable in ensuring a clean separation between protocol-level and user-facing aspects.

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Filed under: News - @ January 1, 1970 12:00 am