Ethereum Game Changer!! The ERC-4337 Upgrade Explained!💥
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- เผยแพร่เมื่อ 15 ก.ย. 2024
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The information contained herein is for informational purposes only. Nothing herein shall be construed to be financial legal or tax advice. The content of this video is solely the opinions of the speaker who is not a licensed financial advisor or registered investment advisor. Trading cryptocurrencies poses considerable risk of loss. The speaker does not guarantee any particular outcome.
#crypto #cryptonews #ethereum
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Thanks Guy& Team !
Eth looks like it's going to dominate crypto. Account abstraction == Mass Adoption for Ethereum
I couldn't agree more, but have to be honest in that I have never thought about it in the way you have presented it. I haven't heard about ERC-4337 until this report. Thanks, Guy! Learned a lot!
The quality of Coin Bureaus channel has really improved over the years. Bravo!
thanks for sharing!
this one is indeed news i would **not** want to miss.
With this option it’s up to you if you wish to keep your keys yourself you can it’s totally up to you and you only
This is big, this is actually how breakthroughs happen in mass scale. Crypto has always been not user friendly
You sound just like Richard Hammond. Thanks for the video.
All this man need is a cowboy hat and you can call him Woody from toys story
A group of Trusted Individuals - sounds like they are setting up the exact same thing like a bank, if you loose your keys and someone "trusted" can recover them, they are NOT your keys in the first place.
But you don’t have to give any keys if you don’t want to it will be up to you
I’m just speculating here, but it sounded like “trusted individuals” was someone of your own choice, which could be family and friends, where none of them have the complete key, or it could be none, if you don’t want it. It seems to not be individuals picked by anybody else, like an Ethereum entity. He also mentioned 2 factor authentication. To me this sounds like one could perhaps build ones own system of verification by combining whatever we want of those. Sounds perfect! However, I might be totally wrong.
@@SteinVarjord you are right
@@SteinVarjord But it will be awkward to keep going to your friends or family for part of the key if you are one of those who can't remember keys ;p I don't think people want that either.
@@Okay-time Oh, ok then they pass a law that is from now on illegal unless you choose a certain individual that they deem as "trusted"
I was waiting for this! Thank you!
This should be on the main channel
Great explanation thanks once again.
Great video! You got one coming on Polygon ID?
Lovely. Thanks! Guy
Glad you enjoyed it Jose!
Ethereum keeps on evolving. This is exciting news.
just no, these changes are making Ethereum LESS secure. it's no longer cryptocurrency & that is NOT hyperbole. might as well be using a CBDC..& re: many of Guy's videos, we're meant to read between the lines.
@@DiandraStarShine Rubbish, it’s an option. If you don’t want to keep your keys yourself, you don’t have to if you do you can it’s just an option
“The dark overlord Gary Gensler” that’s pretty accurate.
😂
The lighting is awesome!
Ethereum is clearly the innovation powerhouse who truly shakes the market, Ethereum produces technology standards way greater than Crypto, Ethereum is the true financial technology leader of our times! The Banking sector has only two choices 1. adopt Ethereum and function within the Ethereum ecosystem or 2. Choose an ethereum meme network and function on a second grade environment but cheaper! Whatever is the case, those who can't compete, they will vanished !
Repeat after me: "Not your keys...Not your Bitcoin!|Crypto!"
The thing is you don’t have to if you wish to keep your own keys you can if you wish to keep part of your keys with family Etc you can it is totally up to you and you only
That’s pretty cool - social recovery.
you're right! Convenience is key!
Is it just me or has the video quality been significantly better? 🤝
It's definitly gotten better since the last time I watched this channel 👀
They had to catch up with the others out there now.
no silly memes popping up during the video all the time
This is huge!!
good news... pump the price
That sounds good, I think I need to get some more ETH in OWNR before it happens, I wasn't buying it lately.
Apparently, I'm not normal.
Thank you for the knowledge
Lord gary gensler 🤣🤣🤣
Well explained
Brilliant. This is needed 💯% for mass adoption and other chains are working towards similar concepts, such as in the XRD RadFi announcement recently, which boasted of 'smart' accounts and a sleek wallet design AND no 12-word passphrase, including account recovery.
This should truly allow for adoption in a greater number of common use cases, such as general day-to-day real estate transactions and administrative processing. Very exciting!
Sealana, if meme coins are your thing, this one might be worth a chuckle 👀😂
Good!
$CRE - Creso wallet is upon us 🚀🚀
Sounds great and all. But I can see how knowing your seed phrase with a ledger would still put you at a higher level of self sovereignty than accessing your funds via biometrics and your hot wallet.
These intro barriers for new people to crypto you explained in this video was already implemented in ICP.
Users doesn't need wallets to interact application and
Doesn't need to pay gas fees
Also doesn't have to remember the Seed phrase all the time
Well.... All this has been available on NEAR and AURORA for awhile.
Video is informative but the important thing is the beard upgrade on you. Looking great 👍
This is a trusted system, not a trustless one.
But you don’t have to give your keys if you don’t want to you can keep them yourself that’s the best bit it’s up to you
@@Okay-time sure, it's literally the same with storing coins on exchanges/earning platforms, people can choose to do that, however, people getting more risk by doing that.
@@te-wei agreed, however, it’s your choice
it's neither. "trusted" is not the opposite of "trust less," which is actually a terrible colloquialism. a better word would have been better to introduce into the lexicon of words/the language used in the crypto world.😐
ICP already has fingerprint or pin stored on the device chip and reverse gas. Just not the trusted individuals part
simple and informative thanks
All good but i will never trust ETH since they remove miners because they could!
The question that needs to be asked is why invest in a protocol that needs to be updated every year.
Let’s go crypto!
Feels like these future wallet features are not gonna be as decentralized as we think. I'm cool with my 12 word seed as I have full control and know where they are at all times.
Excellent video Guy ❤
Thank you
Where is that wrist watch in the my merch store?
Normal people don’t do that 😂
Good
Great video
Yes, most people shouldn't be their own bank. That's why banks were introduced in the first place
please agree that the Death Start and Gary Gensler line was written by ChatGPT :D
Wow this is actually amazing
I agree with CZ when he said most regular people will lose their crypto and shouldn't self custody. A conversation on how this conflicts with the "not your keys..." mindset would be a good video.
Sounds like Loopring already been doing this
Just keep in mind convenience compromises security
Yeah, the thing is, you don’t have to if you don’t want to, if you wish you can keep your keys yourself, that’s the best thing about it
@@Okay-time this isn't a point of not your content move on, it's a point that you completely missed, which is the more convenient you make things for yourself the less secure they become. While managing your private keys is inconvenient, it makes it harder to compromise. Do you get me now?
@@cazrep I totally understand, but you still have the choice I will keep my keys. Others may not their choice, free to choose, which way they want to go.
You can keep your keys yourself, it’s just an option
Great overview.
That’s huge
Social recovery for your keys is another way of giving the government the power to take all of you crypto when they want.
Right on target. And PoS is a way for those witj unlimited liquidity to take over your chain.
But you don’t have to, it’s just an option you can keep your keys safe any way you want like I say it’s just an option
WHOA! 🚀✨👍
I think Gary would attack Staking, this weeks.
And leave coinbase staking for the grand finale the day after Shanghai
Radix is the answer
Didn’t dive deep into the technical details yet, but Eth is already under the feds fingers, it’s OFAC-compliant, they could simply force the nodes to reset the key (if my surface-level understanding of this new feature holds true)
You mean the block producers and no, they can't because the block producers don't have that ability. In fact ERC4337 operates at a layer above the block producers and requires no changes from them. You don't have to use an account with social recovery and if you do you get to decide how that feature works.
I agree 100%. The only thing I don't want to have to do to access my funds is use a MOBILE phone. It has to be available on laptops or other forms of computers as well.
But they are on to something when they say not too many people are going to deal with the seed phrase thing. This is why a LOT of people got burned by FTX, Celsius, Voyager and other CEXES. OG's want to make it about the high yield offered, but a lot of people use it because of the ease they are used to from banks, etc. They do not have the time, bandwidth or technical knowledge to deal with the tech of this new asset class.
I do however still hope that folks who do want to hold their own keys are allowed to do so. Because banks suck.
Yes, you can hold Your own keys this is just a Option so basically it’s up to you
Metamask, Coinbase Wallet, Trust Wallet, etc are all accessible on your computer through extensions, not just on your phone.
Havent seen CBs videos about fedimint or cashu.
🔥🔥🔥
dam right
So, does this mean ethereum could finally be somehow useful to the only adoption that matters?
i love vitalik clapping
Thumbs up to improved UX! 🥳
Another thing that Flux has already done
the problem is always fees(even with the new ERC 4347) , we are using everything now without paying anything at all. tell people you have to pay some dollar every time you use a dapp is something unacceptable for the common folk. i buy and sell stocks through the bank without even paying any fees at all. eth is like our financial system. its corrupted but people still use it because they make lot of money from it .
Layer1x solves this
2:34 Vitalik is just legendary even when he stands still.... It's honestly comedy
normal people make me sad, just write down the f. seed phrases!😂
ok but where can i use it?
Looks like xrd
Amazing
Update on $STX??
Does this upgrade centralize ETH in any way? I just feel like taking steps for trusted parties to recover your lost keys must lead to some extent of centralization.
It doesn't, if the end user is the one picking who to trust. And it seems that's his this works.
You realise ICP already does this account abstraction right?
So... centralized and trusting in third parties again? Yay indeed.
No you don’t have to give your keys if you don’t want to it’s up to you and only you
Yeh thats where its gonna go. Decentralization is a dream, like socialism for the poor.
🥳
icp already have this since it's launch 😂😂😂
👍
Talk about ada. Eth is meh
Lol this screams fiat world.
ETH is ruined
Since the day it went PoS
Folks will hold their eth. Many under water and lot to gain later
FIRST 💯💯💯
Can you cover Floki ot Reddit moons thnx
Eventually they'll make it real easy for you everyday person by just microchipping you.
WienerAi better pay off or I'm eating hot dogs for the rest of my life 🌭😬
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I thought the proof of stake was a game changer :D you guys need to make up your minds about this fcked up coin.
🤡
Well, you don’t have to listen