OpenZeppelin Receives Ethernet Foundation Grant to Advance ERC-4337 Account Abstraction Technology

Bitget App

Trade smarter

Bitget2024/10/25 07:42

On October 25th, OpenZeppelin, a smart contract security company, announced that it had received significant funding from the Ethernet Foundation. The company plans to use the funding to enhance the ERC-4337-based Account Abstraction feature in its OpenZeppelin Contracts library.

OpenZeppelin has been the go-to choice for smart contract development since 2016 and has secured transactions worth trillions of dollars. This grant will enable OpenZeppelin to accomplish several key goals:

Add a modular ERC-4337 implementation that advances account abstraction technology to help developers build more secure applications and more flexible smart wallets.

Expand cryptographic support by introducing new cryptographic signature schemes such as secp256r1, BLS, and RSA, making it easier to build applications for mobile devices, enterprises, and other scenarios.

Enhancements to ERC-4337-related developer tools, including Foundry, Hardhat, and Contracts Wizard, to simplify the process of creating, customizing, and upgrading accounts and payment entities.

Rolling out these new features in two major releases in 2024 and 2025 to comprehensively improve the security, usability, and scalability of the Ethernet ecosystem.

Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

PoolX: Locked for new tokens.

APR up to 10%. Always on, always get airdrop.

Lock now!