The ERC-6327 proposal submitted by ZKSAFE has entered the draft stage

2023-04-11 22:08:29

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ChainCatcher news, the ERC-6327 proposal submitted by the smart contract wallet startup ZKSAFE has officially entered the Draft stage. This proposal aims to provide a cryptographic signature standard beyond private keys for Ethereum, introducing a new signature algorithm called Elastic Signature (ES). ES signatures allow for signing on-chain data using human-friendly passwords, support changing passwords at any time, and are completely decentralized with no server nodes. The proposal defines a smart contract interface for verifying and authorizing ES operations. Using ES signatures in conjunction with private key signatures in AA wallets can enhance asset security, and ES can also be used independently without a private key, lowering the barrier for users to enter Web3. Due to its decentralized nature and the establishment of the ERC standard, ES has the potential to be the next hotspot for MPC and AA wallets.

Previously, ZKSAFE announced that it had secured seed round funding co-led by Aperture Digital and NGC Ventures, with follow-on investments from Catcher VC, ByteTrade, and Betterverse DAO. It won first place at the BNBChain hackathon. (Source link)

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