Vitalik Buterin Redefines Ethereum Wallet Security
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Ethereum co-founder Vitalik Buterin proposed transaction simulations and similar features to improve user experience and security in Ethereum wallets and smart contracts. In a post shared on the X platform on Sunday, he emphasized combining security and user experience around user intent, highlighting the importance of protocols ensuring users do what they want.
Source: Vitalik Buterin
Vitalik Buterin's Transaction Simulation Proposal
Buterin proposed an approach where users specify the action they want, see an on-chain simulation of the results, and then confirm, including spending limits and multisig approvals. This way, low-risk transactions become easier while dangerous ones become harder. Noting that defining user intent is extremely complex, Buterin stated that good solutions should verify intent in multiple ways and act in harmony.
Ethereum Security and the Blockchain Trilemma
Security remains one of the fundamental elements of the blockchain trilemma, alongside decentralization and scalability. These proposals could accelerate Ethereum's user-focused evolution, as examined on its ETH detailed analysis page. Especially in smart contract interactions, simulations will increase trust by preventing unexpected losses.
ETH Market Pressure: Bitmine's $8.8 Billion Loss
Mining giant Bitmine suffered an estimated $8.8 billion unrealized loss due to ETH's 60% drop in the last six months. This situation underscores the criticality of security measures amid market volatility. ETH is currently at 1.889,70 USD, with a 24-hour change of -%3,01. RSI at 31,48 is in oversold territory, but the downtrend and bearish Supertrend continue. Supports: S1 1.747,80 (strong, -%7,50 distance), S2 1.837,74. Resistances: R1 1.941,56 (+%2,75), R2 2.109,60.
- EMA 20: 2.087,20 (below price)
- ETH futures are dominated by bearish signals.
Practical Steps for Ethereum Users
While waiting for simulation tools in their wallets, users should enable existing multisig and limits. This development could strengthen ETH's long-term recovery in the detailed ETH analysis, especially with the oversold RSI signal.