The Sandbox Expresses Optimism on Ethereum Foundation’s Deployment of ERC-4337 Standard
According to the report, The Sandbox said in a social media message that it is optimistic that the Ethereum Foundation will deploy the ERC-4337 standard, espec…
According to the report, The Sandbox said in a social media message that it is optimistic that the Ethereum Foundation will deploy the ERC-4337 standard, especially the smart contract based on this standard will involve the account abstract new account, allowing the project to pay the transaction gas fee for the user or let the user choose the token for payment.
The Sandbox: The ERC-4337 standard will be explored in the next few months
Analysis based on this information:
The Sandbox, a virtual gaming platform that enables users to create, play, and monetize their own experiences, expressed optimism regarding the deployment of the ERC-4337 standard by the Ethereum Foundation. According to a social media message released by the company, it is hopeful that the smart contract based on the aforementioned standard will involve account abstraction allowing the project to pay the transaction gas fee for users or let them choose the token for payment.
The ERC-4337 standard is a new account abstraction standard proposed by Ethereum Improvement Proposal (EIP) in 2020. The standard aims to simplify the Ethereum network to a single account model while allowing users to interact with smart contracts through alternative signature schemes such as BLS and threshold signatures. By simplifying the network, the standard aims to reduce the overall complexity of the network, reduce gas costs, and minimize the need for intermediate accounts.
The Sandbox’s optimism on the deployment of the standard stems from the potential benefits it could bring to its platform. By involving account abstraction, the project could potentially pay transaction gas fees for users of its platform, making it more accessible and user-friendly. Alternatively, users could choose their preferred token for payment, making the platform more flexible and convenient to use.
The deployment of the ERC-4337 standard could have wider implications for the Ethereum network as a whole. By reducing the network’s complexity and gas costs, the standard could increase the accessibility and user-friendliness of various smart contract-based projects, including decentralized applications (dApps). This could lead to increased adoption of the Ethereum network and the wider blockchain industry as a whole.
In conclusion, The Sandbox’s expression of optimism on the Ethereum Foundation’s deployment of the ERC-4337 standard is a testament to the potential benefits that the deployment could bring to the industry. By simplifying the Ethereum network and increasing its accessibility, the standard could pave the way for increased adoption of blockchain technology and smart contract-based projects.
Title: The Sandbox Expresses Optimism on Ethereum Foundation’s Deployment of ERC-4337 Standard
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