ERC-4337 Archives - Coin Engineer https://coinengineer.net/blog/tag/erc-4337/ Btc, Coins, Pre-Sale, DeFi, NFT Fri, 12 Apr 2024 12:07:19 +0000 en-US hourly 1 https://wordpress.org/?v=6.9.4 https://coinengineer.net/blog/wp-content/uploads/2024/04/cropped-Coin-Engineer-Logo-Favicon-2-32x32.png ERC-4337 Archives - Coin Engineer https://coinengineer.net/blog/tag/erc-4337/ 32 32 SocialFi Platform Tomo Collected 3.5 Million Dollar Fund https://coinengineer.net/blog/socialfi-platform-tomo-collected-35-million-dollars-fund/ https://coinengineer.net/blog/socialfi-platform-tomo-collected-35-million-dollars-fund/#respond Fri, 12 Apr 2024 16:53:31 +0000 https://coinengineer.io/blog/?p=17797 The SocialFi platform Tomo, along with investors like Consensys and Symbolic Capital, has raised a seed fund of 3.5 million dollars, led by Polychain Capital. This inflow of capital is concurrent with the introduction of new features, including the TomoID wallet and a revamped reward point system. Ryan Fang, the founder of Tomo, expressed his

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]]> The SocialFi platform Tomo, along with investors like Consensys and Symbolic Capital, has raised a seed fund of 3.5 million dollars, led by Polychain Capital. This inflow of capital is concurrent with the introduction of new features, including the TomoID wallet and a revamped reward point system.
Ryan Fang, the founder of Tomo, expressed his gratitude for the support from investors and highlighted Tomo’s mission to innovate in the SocialFi space. Fang sees Tomo as a pioneer in developing a multi-chain Web3 Social Wallet and aims to create a platform where every connection has financial value.
Polychain Capital CEO Olaf Carlson-Wee emphasized the importance of Tomo in bringing a large new user base to the web3 environment. He noted that integrating Tomo’s financial incentives with social media feedback loops optimizes value distribution between creators and fans.
While specific details about Tomo’s valuation and financing structure are not disclosed, the platform operates similarly to other SocialFi apps. Users can purchase access to content creators’ content and messages using a “Key” system, and content moderation is governed by community rules. Transactions are performed in USD but realized in ether, with a 10% royalty fee shared between Tomo and the content creator.
Tomo facilitates the adoption of blockchain technology by connecting users through their existing social media channels and integrates fiat on-ramping solutions for seamless wallet setup. Leveraging ERC-4337 technology on Ethereum Layer 2 networks Linea and Base, Tomo provides cost-effective and scalable operations.
The launch of ERC-4337 in March 2023 enabled wallets to function as smart contracts with advanced features such as multi-factor authentication and wallet social recovery, allowing for account abstraction on Ethereum.
In terms of total value locked (TVL) in SocialFi applications, Tomo currently ranks fourth with assets nearing 1 million dollars. The leader in this field is FriendTech on Base with a 40 million dollar TVL, followed by The Arena on Avalanche and Alpha on NOS in second and third place, respectively.

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]]> https://coinengineer.net/blog/socialfi-platform-tomo-collected-35-million-dollars-fund/feed/ 0 Vitalik Buterin Published Article About Ethereum’s Innovation Plans https://coinengineer.net/blog/vitalik-buterin-published-article-about-ethereum-innovation-plans/ https://coinengineer.net/blog/vitalik-buterin-published-article-about-ethereum-innovation-plans/#respond Sun, 01 Oct 2023 16:26:57 +0000 https://coinengineer.io/blog/?p=4599 Ethereum co-founder Vitalik Buterin shared a blog post the other day expressing his views on adding certain protocols to Ethereum’s code and maintaining them at the top of the blockchain. Buterin’s specified protocols include the account abstraction protocol ERC-4337 , ZK-EVM’s , private memory pools, pre-compilation of code, and liquid staking. The founder of Ethereum

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]]> Ethereum co-founder Vitalik Buterin shared a blog post the other day expressing his views on adding certain protocols to Ethereum’s code and maintaining them at the top of the blockchain.

Buterin’s specified protocols include the account abstraction protocol ERC-4337 , ZK-EVM’s , private memory pools, pre-compilation of code, and liquid staking.

The founder of Ethereum supported the sanctification of many protocols such as ERC-4337 to Ethereum’s code similar to private memory pools. However, he said it offers a complex trade-off as each will continue to evolve over time.

Along with this, Buterin expressed his concern about the increasing number of liquid staking providers in Ethereum. The Lido staking pool currently controls more than 32% of the staked Ether, which is spread among different validators.

Buterin states that currently the best providers, Lido and Rocket Pool, each have different risks and security mechanisms exist, but these are insufficient.

The founder, rather than relying on moral pressure to encourage the use of various staking providers, is thinking about making changes to make liquid staking in the Ethereum protocol decentralized.

This could mean fine-tuning for RocketPool or granting additional governance powers to a randomly sampled committee of small stakers.

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What is Ethereum?

Ethereum is the second largest cryptocurrency in terms of market value after Bitcoin, launched in 2013 and launched in 2015. But Ethereum is not just a digital currency like bitcoin. Ethereum was proposed by Vitalik Buterin as a next-generation blockchain.

Vitalik Buterin chose the name Ethereum inspired by science fiction novels. He explains this situation as follows: “When I saw this name, I realized that it sounded much more beautiful to me compared to other alternative names. I think this is because the Ethereum word is pleasing to the ear and contains the word ‘ether’. Ether is a theoretical phenomenon that permeates the universe and allows the movement of light.”

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