Daily Crypto NewsEDITION #769, 09 June 2023

Will ERC-4337 bring mass adoption?

Today, in 1963, Winston Churchill became an honorary citizen of the United States. So to speak, he received a role in Discord for his contribution to the project.

And what are people striving for now? Well, we all want to be better than others, right? But our spheres of life have become so decentralized that it has become easier to be the best or at least average in one of them. Hail Decentralization!

Now let's talk about ERC-4337, the latest news from Binance US, and go through a testnet.

Let's go!

A new ERC means a new lack of understanding of what it brings and how it works. And it's necessary to know! Even guys ]from Visa are actively testing ERC-4337 in their ERC-20 payments.

What is it? 

First, let's understand the types of accounts Ethereum has:

– Externally Owned Accounts (EOA)

– Contract Accounts (CA)

EOA accounts are the ones you are familiar with. There is a public key for receiving funds and a private key for wallet recovery. CA, also known as a contract account, consists of an address and a private key. The address is used to send money to a smart contract, and the code, which is the CA itself, determines how it should be used. In other words, a transaction is initiated by EOA and goes through CA, essentially a smart contract.

ERC-4337, essentially, is a hybrid of these account types. It takes advantage of EOA: easy creation and usage + CA: flexibility.

Well, okay, dude, why is it needed?

Alright, buddy. ERC-4337

– Enables two-factor authentication and biometrics

– Allows for account recovery

– Enables subscriptions to services, like Netflix but in crypto

– Gas will be abstract. In other words, it can be paid in any token or fiat.

– Alternatively, applications can pay gas for users to lower the entry barrier.

You can follow ERC-4337 on its official Twitter account.

Long story short, this ERC-4337 is designed for mass adoption. And as we have already seen with Ledger, Mass Crypto Adoption has nothing to do with anonymity and all those "not your keys, not your crypto" things.

– BinanceUS suspends USD deposits, says bank partners will pause dollar payments next week

EVEN BTC LOL

Please bear in mind it's not a shill, and we have no responsibilities for the project. It's on your own, ok? 

Basilisk is a lending and borrowing protocol on zkSync. We will be participating in the testnet because the project seems grateful and promised to reward early users. 

What's up:

- Moni Discover Score: 60 (ok)

- Degens in followers: 15 (noice)

- Have funds and will share them

What to do:

- Add the network using the provided link

- Send test ether through the bridge

- Follow the link and connect your wallet

- Supply ETH

- Click "Use as Collateral"

- Borrow

- Then click "Withdraw" and withdrawal back

- Join Discord