Original Author: Ans, Krypital Group

Original editor: Krypital Group

Original Author: Ans, Krypital Group

Original editor: Krypital Group

What are EIPs?

The full name is Ethereum Improvement Proposals (Ethereum Improvement Proposals), and EIP is the basic unit of Ethereum community governance. EIP contains proposed improved technical specifications, discusses and formulates Ethereum network upgrades and application standards. Including network proposal (Networking), interface proposal (Interface), ERC proposal (ERC), etc., among which the ERC proposal (full name Ethereum Request For Comment) we are more familiar with refers to the development standards and protocols of Ethereum. For example, we commonly use: ERC-20, ERC-721, ERC-721, etc.

Anyone in the Ethereum community can create an EIP to propose potential new features or processes for Ethereum. The EIP should provide concise technical details and rationale for the function and its rationale. Ultimately, it will be up to the Ethereum core developer team to decide whether to develop it into a common standard or add it to network upgrades. Such as "Shanghai upgrade of Ethereum" and "London upgrade".

1. EIP-2612 off-chain signature authorization

Before introducing this eip, let's look at a case, if a new wallet only has usdc in it, no eth for gas. Is there a way to interact with smart contracts to complete payment and other operations? The answer is yes, because usdc is an erc2612 token using eip2612.

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2.EIP-3074

A user clicked sign on the malicious contract, resulting in the theft of 469,146 usdcBut as you can see from this mechanism, this mechanism brings convenience but also has the potential to be abused. This may require major wallets to optimize the reminder mechanism in the future. So at present, when you see the wallet signature information, you should also pay attention to the details of the request content, because even if you do not prompt to request approve, erc2612token assets such as usdc may be stolen.

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, which introduces two new EVM instructions AUTH and AUTHCALL, these two instructions allow EOA (ordinary eoa Ethereum address) to delegate the control of the account to the caller of the smart contract, and allow the user to execute both in one transaction Multiple operations such as approving transfers (approve), executing and revoking approvals.

Let’s recall the current operating experience on eth. Take swap as an example. First, we need eth in the wallet as gas. The first transaction needs approve authorization, and then execute the transferFrom transaction to send tokens to the contract. As we mentioned earlier, approve not only brings additional gas costs and troublesome operating experience to users, but also leaves security risks. Security problems caused by ERC20 approve have occurred frequently in the past two years.

EIP-3074 has made major changes to the Ethereum interaction mode. At present, the proposal is still in the review stage and has not yet been activated on the main network. If EIP-3074 can be successfully activated, then Ethereum will be able to support batch transactions: that is, in a call Send multiple transactions at the same time in order to reduce transaction fees. For example, both approve and transferFrom can be called in a single transaction. At the same time, eip-3071 can also implement sponsorship transactions: if the current account does not have eth, the transaction gas can be paid from another account.3. EIP-4626 Tokenized Vault standard

Fei Protocol founder Joey Santoro and Rari Capital developer Jet Jadeja proposed in EIP-4626

ERC-4626 standard.

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Significance of the ERC-4626 standard

Yield-bearing Token refers to a token that generates interest by itself over time, such as stETH, xSUSHI, Compound’s cUSDC, etc. Yield-bearing Token can be exchanged for native tokens locked in the Vault.

At present, many defi protocols have chosen to use Yield-token as an incentive mechanism. Examples include yield aggregators (Yearn, Rari, and Idle), lending protocols (Compound, Aave, and Fuse), and staking yield tokens (xSUSHI). ERC-4626 aims to standardize the technical parameters of the DeFi yield vault (Vault), including functions such as casting, deposits, withdrawals, and balances, thereby improving its composability, accessibility, and integrated security. Making it a new component in the DeFi lego.

Joey Santoro: "You can already see that there are many use cases for yield tokens. This is due to the lack of standardization of DeFi vaults (Vault), resulting in a variety of implementation details." "Each protocol is developing its own adapters, and these adapters are very Error prone and a waste of development resources. This is a problem for the entire DeFi industry.”

The Rari Capital ETH pool was attacked by xx eth due to a vulnerability in its integration with Alpha Finance. The reason is that Alpha Finance's income token ibETH is integrated into the Rari strategy. However, since the developers of Rari Capital did not find that the ibETH.work function of ibETH is an external call, the attacker manipulated the return value through this function. And if there is a unified standard, developers can clearly understand the design mechanism of each revenue token, which can largely avoid such things from happening.

Alchemix co-founder Scoopy Trooples once commented on the ERC-4626 proposal. “I want this so badly right now” “The biggest pain point of Alchemix v2 is that each different yield token integration has a custom solution that needs to be audited. If they are standardized, the integration interaction becomes easy.

Joey Santoro "The strategy of tokenizing the vault standard will allow the composability of DeFi to explode and provide a better experience for developers and users." "While this proposal may be a small change, it may The usability, liquidity, and utility of DeFi have had a profound impact, just as the ERC-721 standard laid the foundation for the prosperity of NFT.”

4. EIP-4907 (NFT lending agreement)

5.EIP-4361（Sign-In with Ethereum ）

In the past few years, the scholarship mechanism of the Goldsmithing Union has promoted the development of GameFi very well, and it also reflects the importance of the rental function. ERC-4907 supports defining two roles of "owner" and "user" for nft. The expires function has been added, and the nft "user" will automatically expire after the duration expires. The purpose is to create a unified standard for web3 games or metaverse nft rental functions by separating the ownership and usage rights of NFT. Adding more financial attributes to nft also releases more liquidity.

The rental function reduces user entry costs. To achieve a win-win situation for high-net-worth players and ordinary gold diggers, and ERC-4907 will greatly reduce the integration cost of NFT leasing. In the foreseeable future, gamefi will still be an important part of the blockchain industry. With the popularization of such standards, the integration of leasing functions by major nft exchanges will not be far away.

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EIP-4361 is jointly launched by the Ethereum Foundation, Ethereum Domain Name System ENS, and digital identity authentication company Spruce.EIP-4361 hopes to change the way we log into web2 services by using the usual methods of web3 services such as wallets and dapps. Instead of using a username and password combination, users can use their own Ethereum account signature for authentication.

Users will have the same identity across multiple applications, all authenticated through the user's signature wallet.

ENS  

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Sign authentication messagehttp://login.xyzENS is a decentralized domain name project incubated by the Ethereum Foundation. It is an important part of EIP-4361, allowing users to display lengthy Ethereum public addresses with simplified human-readable names, which makes sharing, usage and Memorizing addresses and other data becomes easier. At the same time, ENS also supports users to bind their mailboxes, twitter, NFT avatars, etc. to their domain names, and can be read and displayed by third-party platforms, which is equivalent to creating an identity layer for the Web3 world.

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Seeing the promotion progress of the eip, with the support of vitalik, most Ethereum applications have already supported the ENS domain name."SFT"first level title6. EIP -3525 semi-fungible token

EIP-3525 was proposed by Solv Protocol, and has been adopted as the new Token standard ERC-3525. EIP-3525 definesthis new concept.Advanced Virtual Items and Gear in Web3 or the Metaverse

Summarize

, if the virtual land is represented by NFT, it is difficult to handle operations such as land merging and splitting, but it is easy to represent it by SFT. Another example is the game equipment that can be upgraded and merged. Using the computability and composability of SFT can greatly simplify the development difficulty and improve the liquidity of virtual commodity transactions. Making membership cards, gift certificates, and lottery tickets based on ERC-3525 can realize many unprecedented functions and enrich the user experience of Web3 applications. In addition, ERC-3525 can also be extended to various advanced digital financial assets, such as financial bills, land certificates, bonds, options, and all standardized commodities with inherent quantities. For example, two bonds with the same conditions and a face value of 500 yuan each are equivalent to a bond with the same conditions and a face value of 1,000 yuan.

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https://blog.mycrypto.com/sign-in-with-ethereum-an-alternative-to-centralized-identity-providers/

https://ethereum.org/zh/eips/