Ethereum

2024

Astar

April

Standard

<figure> 
 <figcaption>
 Cover image via <a href="https://u.today/">U.Today</a>
 </figcaption> 
</figure>
Ethereum’s ERC-4337 standard was recently referenced in Toyota Blockchain Lab’s published work, entitled “How to Introduce Mobility into the Public Blockchain.”
<h2 dir="ltr" id="integrating-moa-and-ethereum-erc-4337">Integrating MOA and Ethereum ERC-4337&nbsp;</h2>
Sota Watanabe, founder of&nbsp;<a href="https://u.today/toyota-partners-with-astar-network-astr-announces-web3-hackathon">Toyota partner</a> Astar Network, took to X to&nbsp;<a href="https://x.com/WatanabeSota/status/1815689884251910608">announce</a> that the auto giant just published a post on Mobility-Oriented Account “MOA,” based on Account Abstraction standard ERC-4337 in the Ethereum ecosystem.
<blockquote>
 Toyota just published “MOA” (Mobility-Oriented Account) based on Account Abstraction standard ERC-4337 in Ethereum ecosystem. Bullish! Glad large Japanese enterprises are working on public chains.<a href="https://t.co/Ph4sVTVgFc">https://t.co/Ph4sVTVgFc</a>— Sota | Astar + Startale (@WatanabeSota) <a href="https://twitter.com/WatanabeSota/status/1815689884251910608?ref_src=twsrc%5Etfw">July 23, 2024</a>
</blockquote> 
He acknowledged the work as one that involves large Japanese enterprises working on public chains.
Toyota Blockchain Lab came up with the Toyota Mobility Concept in April 2023, intending to integrate mobility with social systems in “Mobility 3.0.” With time, the protocol decided public blockchains designed to share states with a large number of people could be a powerful option to realize the focus of the Toyota Mobility Concept.
Using a smart account on the blockchain to interpret mobility is believed to hold several benefits, including improved programmability. It is this account on the blockchain that is referred to as a Mobility-Oriented Account.&nbsp;
Toyota wants to explore how to design MOA based on the&nbsp;<a href="https://u.today/eip-4337-activated-by-ethereum-eth-comprehensive-guide">Account Abstraction standard ERC-4337</a> in Ethereum.
<h2 id="toyota-to-address-challenges-with-erc-4337">Toyota to address challenges with ERC-4337&nbsp;</h2>
The protocol believes strongly in the capacity of this integrated design to help mitigate the challenges associated with utilizing conventional approaches. Some of these challenges are the loss of private keys and accounts, and limited functionality on the blockchain.&nbsp;
Notably, Account Abstraction creates a distinction between the authentication process and key management. Therefore, the loss of a private key does not absolutely mean that the account itself is lost. Instead, the account could be retained even if the private key is lost, thereby enabling safer and more flexible account management.
Another unique aspect of ERC-4337 that Toyota plans to explore is the use of the CREATE2 opcode defined in EIP-1014. This allows the deterministic setting of an address before the account is deployed.

Toyota Names ERC-4337 in Recent Mobility Standard

Innholdsfortegnelse

U_Today

Andre artikler publisert på 23. juli 2024

Crypto-backed PAC throws $1.7M at Arizona Congress candidates

Will Ethereum Witness Price Breakouts Amid ETF Issuers HODLing?

MoonBag Presale and The Sandbox Navigate Market Dynamics

Avail Launches Data Availability Mainnet and AVAIL Token

Bitcoin’s bull run to $68K: A trap for $30M in liquidation?

Big Time (BIGTIME) Price Prediction 2025, 2026, 2027, 2028, 2029 and 2030

Bli med på vårt gratis nyhetsbrev for daglige kryptooppdateringer!