$427M worth of weETH has been transacted on Arbitrum, the highest among other Layer 2 solutions. EIP 3074's approval is seen as a significant advancement for Ethereum, unlocking new possibilities. The network's Dencun upgrade has led to increased activity on Layer 2s, with lower transaction costs attracting new users. Despite revenue decrease, Ethereum's adoption on Layer 2 networks is rapidly growing.
To summarize the concerns over a single bad signature draining your Ethereum account after EIP-3074: - Wallets currently don't support 3074 type signatures, which follow a new format. - There is an invoker field in 3074 signatures which is very important. A bad invoker can… https://t.co/HBA1IWARKG
"One bad signature will be able to drain your account on Ethereum after EIP-3074." Yes; this is true. 3074 coauthor here! Let me put this concern to rest a bit before it gets more out of hand.
> community hates approvals / EOA limitations > 2020: 3074 proposed as possible step fwd: app devs frustrated it isnt considered > EIP tweaked: adds revocations, gets tests + impl > proposed for pectra: some ecstatic, others worried hard to build consensus in large ecosystems!
EIP-3074 might be the highest-impact EVM change ever Most visible impact will be on wallets, but it's going to completely change smart contract design patterns too
📊 CMC Stats With #Ethereum's Dennison upgrade slashing costs, L2s like Blast, Arbitrum & Starknet have been rising. Transaction fees fluctuate, but TVL gains show confidence & growth. https://t.co/e0FZn5tBde
📉Despite a notable decrease in revenue from L2s for #Ethereum Mainchain post-Dencun upgrade, don't miss the big picture: #ETH's adoption on L2 networks is exploding! 🚀 Over time, the increase in L2 activity will be a massive net PLUS for the value of ETH! https://t.co/anHg4DDnBo
EIP 3074 is coming to $ETH Say goodbye to having to approve each and every contract! It’ll be just like Solana now!! BULLISH!! https://t.co/CTnqiTsMB9
it might not seem like it now, but i think we are about to enter a true golden age for Ethereum wallets and UX in general and a lot of the best parts of that will be on EVM L2s yes, the transactions are cheaper on L2, and that alone is better UX. BUT it's also about what those…
Activity has picked up on #Ethereum Layer 2s after the network's Dencun upgrade on March 13. Sustained lower transaction costs may draw in new users over time. For more on the possible repercussions, read our report: https://t.co/1qouXdaAzH https://t.co/M092zg11Eg
EIP 3074's approval caught me off guard. I'm not used to things being *this* good. 3074 unlocks so much. I couldn't be more bullish. People mention the UX improvements but imo the app / mechanism design is the real level up. Next gen DEXs are just the tip of the iceberg.
huge news for better smart contract wallets and way more advanced UX on Ethereum https://t.co/DH5qNETlXW
$427M $weETH on @arbitrum, more than any other LRT or LST (yes, including $wstETH) What L2 should we take on next?