Ethereum blockchain deploys feature to help ETH users recover crypto if they lose private keys
|- The Ethereum blockchain has deployed an account abstraction feature that makes it easier for users to recover crypto if they lose private keys.
- Ethereum’s ERC-4337 has been deployed, tested and marks the beginning of smart ETH accounts.
- Ethereum price sustained above the $1,500 level despite Voyager’s recent sale of 1,449 ETH.
The Ethereum blockchain has deployed the “account abstraction” feature, which enhanced the network and made it easier for users to recover their crypto if they lose private keys to their wallets. The news of the ERC-4337 deployment will be shared at an ETHDenver-related event.
Also read: Will Ethereum’s ERC-4337 deployment catalyze ETH price recovery after Silvergate FUD?
Ethereum blockchain deploys “account abstraction”
The Ethereum blockchain has deployed a feature known as account abstraction. The ETH blockchain has now made it easier for users to recover cryptocurrency if they lose the private keys to their online wallets.
The new standard, ERC-4337 has been deployed on the mainnet via Etherscan and confirmed by Yoav Weiss from the security team at the Ethereum Foundation. The contract has undergone a security audit and the foundation has stewarded development on the ETH blockchain.
The team is expected to announce the development at the ETHDenver conference on March 8. Once the announcement is made, infrastructure providers will share their plans to support ERC-4337 with their services.
The new feature, therefore, makes it easier for ETH wallet holders to retrieve their holdings in case they lose access to their private keys. This is a game-changing development for the Ethereum blockchain.
Voyager’s sale of Ethereum failed to negatively influence ETH price
Voyager, a crypto broker, sold 1,449 ETH tokens via Wintermute and received 2.25 million USDC. The broker sold ETH at an average price of $1,553. The broker still holds $223.5 million worth of Ethereum. Ethereum price sustained above the $1,500 level despite Voyager’s sale of the asset.
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