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Glossary ​

ERC-4337 ​

ERC-4337 is a standard for account abstraction on the Ethereum blockchain. It defines a set of rules and interfaces that allow users to interact with smart contracts without managing their own private keys.

Components of ERC-4337 ​

  • User Operation: A data structure that represents a user's request to interact with a smart contract. It includes the calldata, gas limit, and other parameters necessary to execute the transaction.
  • Entry Point: A smart contract that receives and validates user operations. It forwards valid operations to the target smart contract for execution.
  • Paymaster: A smart contract that pays for the gas costs of user operations. It can be used by users who do not have enough ETH to cover the gas fees.
  • Bundler: A service that aggregates multiple user operations into a single transaction. This can reduce the gas costs for users and improve the efficiency of the network.
  • Relayer: A service that submits bundled user operations to the blockchain. It ensures that the operations are executed in the correct order and that the paymasters are able to pay for the gas costs.

Benefits of ERC-4337 ​

  • Improved security: By removing the need for users to manage their own private keys, ERC-4337 reduces the risk of theft or loss of funds.
  • Simplified user experience: Users can interact with smart contracts without having to understand the complexities of blockchain technology.
  • Increased flexibility: ERC-4337 allows users to delegate their authority to multiple paymasters, giving them more control over how their transactions are executed.

EIP-712 ​

EIP-712 is a standard for representing structured data as a JSON object and then hashing it using a cryptographic function. It is commonly used to sign data off-chain and verify the signature on-chain.

Components of EIP-712 ​

  • Type System: Defines the data types that can be used in EIP-712 structured data.
  • Encoding Function: Encodes the structured data into a binary representation.
  • Hashing Function: Hashes the encoded data using a cryptographic function, such as SHA-256.

Signing and Verification ​

To sign data using EIP-712, the following steps are performed:

  1. The structured data is encoded using the EIP-712 encoding function.
  2. The encoded data is hashed using the EIP-712 hashing function.
  3. The hash is signed using the signer's private key.

To verify a signature using EIP-712, the following steps are performed:

  1. The structured data is encoded using the EIP-712 encoding function.
  2. The encoded data is hashed using the EIP-712 hashing function.
  3. The signature is verified using the signer's public key and the hash of the encoded data.

Benefits of EIP-712 ​

  • Improved security: By signing data off-chain and verifying the signature on-chain, EIP-712 reduces the risk of data tampering and fraud.
  • Simplified user experience: Users can sign data without having to understand the complexities of cryptography.
  • Increased flexibility: EIP-712 can be used to sign any type of structured data, making it a versatile tool for a variety of applications.

ERC-4907 ​

ERC-4907 is a standard for non-fungible tokens (NFTs) that represent real-world assets. It provides a common interface and set of metadata attributes for NFTs that represent physical items, such as artwork, collectibles, and real estate.

Components of ERC-4907 ​

  • Core Interface: Defines the basic functionality of an ERC-4907 NFT, including the ability to transfer, burn, and mint NFTs.
  • Metadata Attributes: Specifies a set of metadata attributes that can be used to describe the real-world asset represented by the NFT. These attributes include:
    1. AssetType: The type of real-world asset represented by the NFT.
    2. AssetLocation: The physical location of the real-world asset.
    3. AssetOrigin: The provenance and history of the real-world asset.
    4. AssetCustodian: The entity that is responsible for the safekeeping of the real-world asset.
  • Security: ERC-4907 includes security features to protect the integrity of the NFT and the underlying real-world asset. These features include:
    1. Verification: Mechanisms for verifying the authenticity and ownership of the NFT.
    2. Escrow: A system for holding the NFT in escrow until the real-world asset is delivered or the transaction is complete.

Benefits of ERC-4907 ​

  • Improved transparency: ERC-4907 provides a standardized way to represent and track the ownership of real-world assets on the blockchain.
  • Reduced fraud: The security features of ERC-4907 help to prevent fraud and protect the value of the underlying real-world assets.
  • Increased liquidity: ERC-4907 makes it easier to trade and exchange NFTs that represent real-world assets.

WalletConnect ​

WalletConnect is an open-source protocol that enables secure communication between mobile or desktop cryptocurrency wallets and decentralized applications (dApps) running in a web browser. It provides a seamless and user-friendly way for users to interact with dApps without having to manually connect their wallets or share their private keys.

Key Features ​

  • Cross-Platform Compatibility: WalletConnect supports a wide range of mobile and desktop wallets, including MetaMask, Coinbase Wallet, Trust Wallet, and many more. This allows users to connect to dApps from any device they choose.
  • Secure Communication: WalletConnect uses a combination of encryption and message relay services to ensure that all communication between wallets and dApps is secure and private.
  • Easy Pairing: The pairing process between wallets and dApps is simple and intuitive. Users simply scan a QR code or click a link to establish a connection.
  • Session Management: WalletConnect allows users to manage multiple active sessions simultaneously, providing flexibility and convenience.

Protocol Details ​

  • Connector (User): A mobile or desktop application that allows users to connect their Web3 wallet to a dApp.
  • DApp (Service): A web application that interacts with a user's wallet through WalletConnect.
  • JSON RPC Request: A JSON formatted message sent from a dApp to a wallet, requesting access to the wallet's functionality (e.g., sending transactions, signing messages).
  • JSON RPC Response: A JSON formatted message sent from a wallet to a dApp, containing the result of the requested operation.
  • Message Relay: A service that securely transmits messages between connectors and dApps.
  • Namespace: A unique identifier used to differentiate between multiple connections for a single wallet.
  • Pairing Request: A message sent from a connector to a dApp, requesting the establishment of a connection.
  • Pairing Response: A message sent from a dApp to a connector, accepting or rejecting the pairing request.
  • Push Notification: A message sent from a connector to a dApp, notifying the dApp of an incoming JSON RPC request.
  • Session: A temporary connection between a connector and a dApp, established through the pairing process.
  • Transport: The underlying communication channel used to transmit messages between connectors and dApps (e.g., Bluetooth, WebSockets, Long-Polling).

Use Cases ​

WalletConnect has a wide range of use cases, including:

  • dApp Authentication: Users can log in to dApps using their existing wallets, eliminating the need for separate user accounts and passwords.
  • Transaction Signing: Users can securely approve and sign transactions from their wallets without having to share their private keys with dApps.
  • Wallet Management: Users can manage their wallets, view balances, and send or receive funds directly from dApps.
  • Cross-Chain Interoperability: WalletConnect can be used to connect wallets to dApps built on different blockchains, enabling users to interact with a wider range of decentralized services.

Benefits ​

WalletConnect offers several benefits to both users and developers:

  • Improved User Experience: Users can interact with dApps seamlessly and securely without having to worry about managing multiple accounts or sharing their private keys.
  • Enhanced Security: WalletConnect's secure communication protocol ensures that all data transmitted between wallets and dApps is protected from eavesdropping and hacking.
  • Development Efficiency: Developers can easily integrate WalletConnect into their dApps, reducing development time and effort.
  • Ecosystem Growth: WalletConnect fosters the growth of the Web3 ecosystem by making it easier for users to access and interact with a wide range of decentralized applications.

Overall, WalletConnect is a powerful tool that makes it easy and secure for users to connect their wallets to dApps. It is a key component of the Web3 ecosystem, enabling a more user-friendly and accessible decentralized internet.

Additional Resources ​