Analysis: EIP-3074 will introduce new features such as asset recovery for Ethereum wallets

Ethereum users may no longer have to worry about losing their seed phrases again after the Pectra hard fork, thanks to a new “social recovery” feature in the EIP-3074 upgrade plan. Ethereum Improvement Proposal EIP-3074 was confirmed by Ethereum core developer Tim Beiko for inclusion in the Pectra hard fork upgrade in an April 11 post. Ethereum Foundation researcher “Domothy” explained in a March 25 blog post that the upgrade will enable regular Ethereum wallets (externally owned accounts) to get “supercharging” with several new smart contract features, including the ability to recover assets. However, to take advantage of this social recovery tool, users must first transfer ownership of their assets to an invoker contract, which will perform future transactions and function calls on the user’s behalf, via a digital signature. When ownership is delegated, if the user loses or forgets their seed phrase, the message in the digital signature will enable them to retrieve the assets. Crypto commentator cygaar explained in an article on April 11 that this feature will be achieved by implementing the "AUTH" and "AUTHCALL" opcodes. AUTH will obtain the user's signature and expected operation and verify that its signature is correct; AUTHCALL will then call the target contract to execute the transaction, but will assign the user as the caller instead of the caller contract. (Cointelegraph), Earlier today, on April 12, the 185th meeting of the Ethereum Core Developers Executive Meeting (ACDE) was held, and developer timbeiko.eth sorted out the minutes of the meeting, including: EIP 2935 and 3074 have been determined to be included in the Pectra upgrade (Prague upgrade); EOF and EIP 7623 have entered the scope of consideration for inclusion (CFI), and a final decision is expected soon; EIP-7667 and Verkle migration have entered the scope of consideration for the Osaka upgrade.