NVDA Q3 Earnings Alert: Why our AI stock picker is still holding Nvidia stockRead More

OpenZeppelin excludes isContract, urging ecosystem evolution

Published 10/11/2023, 09:45 AM
Updated 10/11/2023, 10:01 AM
OpenZeppelin excludes isContract, urging ecosystem evolution
ETH/USD
-
ETH
-

Crypto.news - OpenZeppelin eradicates the isContract function, fostering a shift towards greater adaptability and enhanced user experiences in the Ethereum ecosystem.

Smart contract development service OpenZeppelin recently removed a commonly used smart contract function called isContract to push the ecosystem forward toward greater flexibility and improved user experiences.

The isContract function returns true if an Ethereum (ETH) address belongs to a smart contract account rather than an externally owned account (EOA). Many decentralized application (dapp) developers have relied on it for security purposes, such as preventing bots from minting non-fungible tokens (NFTs).

However, as Ambire Wallet co-founder and CEO Ivo Georgiev pointed out rejoicing for removing the feature, relying on isContract breaks compatibility with account abstraction wallets like Ambire, Argent, and Safe. These wallets use smart contracts to manage users’ funds while abstracting some complexities away from the end user.

According to Georgiev, better ways to prevent issues like NFT minting abuse and security vulnerabilities exist. The presence of isContract has led to a harmful myth that smart contracts cannot function as user accounts.

In response, OpenZeppelin removed the function to push developers to reconsider assumptions about smart contracts and user accounts. This controversial move could accelerate the adoption of account abstraction and its associated benefits.

Safe — a decentralized custody protocol previously known as Gnosis Safe — developer Misha highlighted legitimate use cases of isContract, like ensuring that added Safe modules are valid contracts. However, Georgiev argued that there are better solutions that don’t preclude important account abstraction techniques.

The OpenZeppelin documentation warns that isContract should not be relied upon as the sole determiner of contract or EOA status. According to him, with clever programming, bots can return false positives or negatives.

This debate represents an important step forward as Ethereum builders rethink outdated assumptions and plant the seeds for the next generation of user-friendly decentralized applications. Removing isContract forces developers to find alternative solutions, ultimately benefiting end users by stopping discrimination against abstracted accounts.

This article was originally published on Crypto.news

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.