š” TL;DR: ZeroSig utilizes EIP-4337 to bolster crypto security through innovative measures like OTP-based 2FA and programmable on-chain rules, making your digital assets safer than ever.
š Understanding EIP-4337
Ethereum Improvement Proposal 4337 (EIP-4337) is a game-changer in the realm of crypto security. It introduces the concept of smart accounts that go beyond traditional key-based controls, allowing for more customizable security measures. But what does this mean for ZeroSig users? Let's delve into how we integrate EIP-4337 to protect your assets.
š Enhanced Security Features with ZeroSig
One-Time Password (OTP) Based 2FA š
Most crypto wallets rely solely on private keys for access, leaving them vulnerable to phishing attacks. ZeroSig takes it a step further by incorporating OTP-based 2FA, providing an extra layer of security. When a transaction is initiated, you receive a one-time password, ensuring that only you can authorize it.
Programmable On-Chain Rules š
With EIP-4337, ZeroSig allows users to set programmable rules directly on-chain. These rules can include:
- Timelocks: Delay transactions for a set period, giving you time to cancel if unauthorized. Learn more about implementing timelocks in your smart wallet.
- Spending Limits: Set daily or monthly caps on transactions to prevent large unauthorized spends.
- Whitelisting Addresses: Restrict transactions to known addresses only.
Panic Freeze Button š
In case of suspected compromise, ZeroSig offers a panic freeze feature. This instantly halts all transactions and requires additional verification to unlock, preventing any further unauthorized access.
Real-World Security Analogies š
Think of your crypto vault like a high-security bank vault. Traditionally, anyone with a key (private key) can access it. With ZeroSig, it's like having a bank manager (OTP-based 2FA) who confirms every withdrawal and an automated system (programmable on-chain rules) that only allows transactions that meet predefined criteria.
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