Ethereum
Vitalik Buterin Proposes Crucial New Security Practice for Ethereum
Arman Shirinian
Vitalik Buterin believes that implementing this practice will make Ethereum better and more secure.
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Vitalik Buterin believes that this practice Ethereum will strengthen network security. The checksum address is a key concept in Ethereum that could reduce the risk of errors and potential losses in transactions. significantly.
In ERC-3770, Buterin made some important recommendations, one of which was that this might be the best chance to require mixed-case checksum addresses. All wallets, especially those using ERC-3770, are advised by Buterin to ensure that they only produce checksum addresses.
To avoid errors, Ethereum addresses can be encoded using checksum addresses, but what exactly are checksum addresses? In an address string, they mix upper and lower case letters. EIP-55 describes this system and shows how to use a checksum in Ethereum addresses to identify incorrectly entered characters.
The likelihood that a mistyped address will be accepted as legitimate is significantly reduced when mixed-case checksums are used to increase security. transactions. Beyond simply printing addresses with checksum, Buterin’s proposal does more. Additionally, he proposes that typing be mandatory to have addresses with a checksum. This can be done in several ways, such as making it mandatory or including an intrusive click if an address is entered without being verified.
By taking this precaution, users will be more likely to enter addresses correctly and will reduce the chances of sending money to an incorrect address. Backward compatibility with many current hex parsers that support mixed-case addresses is a useful advantage of this approach.
This implies that it is possible to gradually move to checksum addresses without interfering with already built systems. Checksum addresses also maintain the conventional length of 40 characters, which helps maintain the usability and familiarity of Ethereum addresses.
About the Author
Arman Shirinian
Arman Shirinyan is a trader, crypto enthusiast and SMM expert with over four years of experience.
Arman strongly believes that cryptocurrencies and blockchain will be of constant utility in the future. Currently, it focuses on news, articles with in-depth analysis of crypto projects and technical analysis of cryptocurrency trading pairs.