Curated By Ralph

Ralph Chua is a publisher. He is passionate about NFTs and blockchain technology. This website is curated with content from his favorite source of information. He created this website with the intention to stay up to date with the ever-evolving and groundbreaking NFT industry.

Yeah oh yeah right on All right sort of linked to this Is this is this is actually I haven't Seen a lot of people talking about this And this is one of the most bullish Things that's happened to ethereum in The last couple of weeks so there's a New standard that's been audited and Released a new token called the Erc4337 okay now that's only relevant What's important about this is that this Is the first token that will allow you To be able to take monthly deductions It's through the smart contracts so when You sign up let's say you want to buy an Nft that's a subscription Um instead of you know instead of it Being just a one-off purchase but Something that's deducted like your Netflix bill for example could be paid Using an Erc4337 you would sign up and like a Debit order from the bank every single Month this would automatically take the Money Um as you've agreed so that's one of the Things that this token could do that Could not be done before which is really Really cool Yeah yeah and it sounds super Complicated but again I'm kind of on the Boat of like these things will come Naturally and like these things will Probably have different names it'll just

Be something that's more on the back end Stuff as we transition to more digital Currencies that are hopefully a bit more Decentralized but these things seem like Super like you know nerdy right now I Think and it's hard to imagine Mass Adoption could happen when it's called Erc4337 but just like guys keep in mind That it's like it's more about narrative And like it's bigger it's always big Picture stuff when you're trying to like Get people to wrap their head around It's always going to be big picture Concepts you know like this stuff is Super technical but it doesn't it's not Actually going to be once this stuff Starts to get adopted it'll be very very Easy hopefully that's the goal at least If it's not then it's not gonna be yeah I mean instead of thinking of it as the Usd4337 just think of it as like your Apple phone update so there's no there's Now something else that ethereum can do The other cool things that it can do is Like there's a way that you could put Signatories on your account that if you Lost your seed fried Phrase I could say up front look Kate And he has Kate's wallet I trust Cade And I trust my wife Bianca has her Wallet if both of those two people sign A particular transaction that would Recover my seed phrase so that's another Thing that this token allows that up

Until this point wasn't allowed and if You think for Mass adoption you do need Something like that because your Grandmother cannot remember 47 words in Sequence and you know it's just just Like if you lose your password to your Internet banking you can pick up the Phone and phone the bank and give your Whatever they ask you 10 questions you Answer them you get your thing there Needs to be a recovery this token allows For that while having very strict Criteria that you determine which is Quite cool Um and also um it will also allow for For very low gas or even gasless Transactions as well so it's just an Upgrade right another token that solves A lot of different problems that were um You know in some ways stumbling box to Mass adoption um yeah yeah Yeah so that's bullish I'm just seeing If I if I forget anything here so Gasless transactions is one of the Things automated trading which we spoke About like a subscription secure your Wallet without a series phrase and be Able to recover lost private Keys just To sum up what this allows and it has Been fully audited and approved so it's Something that you could right now Incorporate into your next smart Contract which is really pretty cool Yep oh

Categories NFT

Leave a Comment