What is EIP-712 and how does it relate to cryptocurrencies?

3 answers

• Nov 26, 2021 · 3 years ago
  EIP-712 stands for Ethereum Improvement Proposal 712, which is a standard for typed data hashing and signing on the Ethereum blockchain. It provides a way to securely sign and verify data structures, such as transactions or messages, using digital signatures. This is particularly useful in the context of cryptocurrencies, as it allows for the secure transfer and verification of ownership of digital assets on the blockchain.
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• Nov 26, 2021 · 3 years ago
  EIP-712 is like the secret handshake of the cryptocurrency world. It's a standardized way for different platforms and applications to communicate and verify data. It's like a digital passport that ensures the authenticity and integrity of transactions and messages on the blockchain. So, when you see EIP-712 mentioned in the context of cryptocurrencies, you know that it's all about secure and trustworthy transactions.
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• Nov 26, 2021 · 3 years ago
  EIP-712, also known as Ethereum Improvement Proposal 712, is a protocol that enables secure and standardized data signing on the Ethereum blockchain. It plays a crucial role in the world of cryptocurrencies by ensuring the integrity and authenticity of transactions. With EIP-712, users can be confident that their digital assets are being transferred securely and that their ownership is being verified accurately. At BYDFi, we fully support the implementation of EIP-712 to enhance the security and reliability of cryptocurrency transactions.
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