1/ While EOAs serve as the main form of user interaction in the Ethereum ecosystem, they are extremely limited, inflexible and are unable to attach information.
Here's where ERC725, proposed by @feindura, steps in as a pivotal innovation ๐ค๐๐งต๐
Here's where ERC725, proposed by @feindura, steps in as a pivotal innovation ๐ค๐๐งต๐
2/ Smart contracts often fail to account for the need for flexible execution and storage.
What if we could introduce a generic executor and a universally accessible key-value data store?
This is precisely the problem that ERC725 seeks to address.
What if we could introduce a generic executor and a universally accessible key-value data store?
This is precisely the problem that ERC725 seeks to address.
3/ One of the limitations of traditional smart contracts is that once they're deployed, you cannot add more variables.
Although you can modify the values stored in these variables, you cannot modify their type and number.
This is where ERC725Y comes into play.
Although you can modify the values stored in these variables, you cannot modify their type and number.
This is where ERC725Y comes into play.
4/ ERC725Y offers a solution to this problem by standardizing a mapping and a set of getData and setData functions.
This allows you to store an extensive amount of data in the form of bytes under a bytes32 data key, in a mapping.
This allows you to store an extensive amount of data in the form of bytes under a bytes32 data key, in a mapping.
5/ The ERC725Y standard can be helpful for accounts. It enables you to store information about the contract & add more as needed.
In the context of NFTs, this functionality allows you to reference the creators, the community behind it, and make the NFT updatable over time.
In the context of NFTs, this functionality allows you to reference the creators, the community behind it, and make the NFT updatable over time.
6/ With flexible data storage solved, let's look at how ERC725 enhances execution flexibility.
For execution contracts such as DAO's accounts, it's vital to have the ability to execute operations like create2, delegatecall, & staticcall generically. ERC725X solves this problem.
For execution contracts such as DAO's accounts, it's vital to have the ability to execute operations like create2, delegatecall, & staticcall generically. ERC725X solves this problem.
7/ ERC725X standardizes these operations by assigning each an operation type.
These operations can be executed under specific conditions and even allow for batch executions.
The efficiency and functionality that these batch operations provide are unparalleled.
These operations can be executed under specific conditions and even allow for batch executions.
The efficiency and functionality that these batch operations provide are unparalleled.
8/ When used in conjunction, the data stored inside ERC725Y can influence the execution part of ERC725X.
For example, an address stored under a specific data key could trigger the process of social recovery or authorize the transfer of an asset.
For example, an address stored under a specific data key could trigger the process of social recovery or authorize the transfer of an asset.
9/ ERC725 started as a standard for smart contract-based accounts, but its potential extends much further.
Today, it is a standard that can benefit a broad range of applications - from NFTs to DAOs, Accounts, Registries, and more.
Today, it is a standard that can benefit a broad range of applications - from NFTs to DAOs, Accounts, Registries, and more.
10/ ERC725 has undergone numerous revisions to support more use cases, optimize for gas by enabling batch actions, and remove overloading to make the standard language-independent and compatible with other blockchain languages.
11/ Even though ERC725 serves as a robust executor and offers a generic storage solution, it doesn't completely fulfill the requirements of a smart contract account alone.
An account necessitates more, which is precisely what is achieved by standardizing LSP0-ERC725Account.
An account necessitates more, which is precisely what is achieved by standardizing LSP0-ERC725Account.
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