The team behind Safe Wallet announced a new technology proposal for the ERC-7955, the Ethereum Ecosystem, on August 28th.
As they explained, it is the standard to try to eliminate Need for a private key The Intelligent Contract Deployment Process can change the way Ethereum and compatible network applications are configured.
The SAFE initiative introduces an abstract account system with configurable permissions. This allows users to define who or which entities can perform the transaction. There is no need to protect your private key.
These keys represent unique points of failure. If the user loses them or is stolen, the assets will be damaged. ERC-7955 is about to replace that scheme with a configurable permission.
The proposal focuses on solving problems facing Safe’s infrastructure: Dependency of An actor with the authority to create and maintain his Singleton factory. This is a basic agreement that allows users to view the wallet Multisig (Multifirma), which aims to protect assets with shared or multiple approvals.
Singleton Factory is a special agreement that acts as a “template” or “factory” to display other secure contracts on different networks. This means that instead of rewriting the code every time, it’s safe Use a single “model” agreement that generates the same instance.
The role of ERC-7955
Until now, this process relied on Safe’s Singleton Factory being controlled by a specific private key. Risks and technical failures of centralization.
Sometimes some wallet developments said Multisig They were unhappy with the error in gas estimation, a committee that users paid to carry out operations at Ethereum.
Inappropriate calculation of the parameter Transactions may fail,In this case, the extension of the secure structure to a new network was blocked.
In ERC-7955, that scheme is replaced by a system No permission (No permission required), meaning it is open to users or developers without an authorized key.
The mechanism is based on two elements that already exist in Ethereum. OPCODE create2 allows pre-calculation of the address on which the contract will be deployed. Additionally, the improvement proposal 7702 (EIP-7702) introduced in the sicking update creates a wallet for creating and automating wallets with the capabilities of intelligent contracts.
The Safe team explains that this design works in the initiation agreement (Bootstrap agreement), a program that enables the development of deterministic contracts (Factory contract) that is, the contract Network addresses can be predicted in advance, and they are always the same With a compatible chain.
A safe promise is the development of the contract thanks to the ERC-7955.factory” It does not depend on central entities (Also from the company’s private key).
In this way, a compatible network can have a unique and predictable orientation for its contract, facilitating interoperability and reducing the need to rely on entities that you want to manually view.
Instead, Ethereum users You may activate the creation of that contract Submit the transaction with the appropriate parameters. This eliminates unique points of failure and distributes responsibility among users.
Possible benefits and limitations
According to SAFE, the change “will allow for safer and more resistant displays.” Improves flexibility in gas and other parametersthat the above mechanism was not resolved efficiently.
Possibility of «Recovering failed developments»because the procedure can be repeated without invalidating the predicted address of the contract.
In reality, beneficiaries will be developers of Ethereum applications that can display contracts on different networks without technical obstacles or central actors.
Secure base wallet users reach too More stable, less vulnerable infrastructure For operational errors.
However, this proposal still relies on the implementation of EIP-7702 in the applied network, considering that its implementation opened up a new surface of phishing attacks, as reported by encryption.
If EIP-7702 is not adopted, it is a safe initiative You will face restrictions out of your reach.
Finally, with the introduction of authorization models that distribute private keys, there is a question of what exists that there is no assurance that key elimination does not generate more occurrences of scenarios for unauthorized access, and additional audits and verification may be required to ensure safety in a production environment.
