Ethereum is Preparing for a Giant Update: Here Are Three Features That Will Radically Change

Planned to launch in late 2024 or early 2025 Ethereum The update focuses on radically changing the way wallets are used and significantly improving the user experience. This update brings with it a number of innovations, represented by the approved EIP-3074, according to developer Tim Beiko and DeFiLlama developer. will bring.

The key detail at the center of this update will be EIP-3074, which enables various wallet functions, including the ability to recover lost keys. Here are the main innovations brought by this update:

1. Batch Operations: Ethereum will enable bulk transactions. This will allow you to send different tokens to a new address in a single transaction, thus saving time and reducing complexity.

2. Simplified Approvals and Transactions: EIP-3074 will speed up your transactions by simplifying the approval process. You can now confirm and execute transactions such as deposits or exchanges in a single step. This will not only save you on transaction fees, but will also reduce the valuable time you spend waiting for a transaction.

3. Sponsored Transactions: EIP-3074 will allow you to take a free ride on the Ethereum network by promoting sponsored transactions. Having someone else cover gas fees for you will make your operations more cost-effective and efficient.

To benefit from these new features, users will transfer control of their assets via a digital signature to an initiating contract. This contract will then perform operations and call functions on behalf of the user.

These innovations in EIP-3074 are expected to make Ethereum more user-friendly, efficient and flexible. These steps will make significant progress towards making Ethereum a more accessible platform for everyday use and complex blockchain interactions. This update is just part of what Vitalik Buterin calls “The Purge” and his goal to make Ethereum lighter and more accessible.

source site-8