Ethereum users no longer have to worry about losing their initial phrases after a Pectra hard fork - thanks to a new "community recovery" feature that is part of the planned Ethereum Improvement Proposal (EIP) 3074 update.
EIP-3074 was confirmed as a new addition to the Pectra hard fork by Ethereum chief developer Tim Beiko in an April 11 X post.
The update will include "supercharging" regular Ethereum wallets (externally owned accounts) with several new smart contract features, including the ability to recover assets, explained Ethereum Foundation researcher "Domothy" in a March 25 blog post.
However, in order to take advantage of the social recovery tool, users must first transfer ownership of their assets to the calling entity's contract via a digital signature, which will perform future transactions and function calls on behalf of the user.
When delegating ownership, the message contained in the digital signature will allow the user to recover the assets if they lose or forget the initial phrase.
This function will be made possible by the implementation of the "AUTH" and "AUTHCALL" operating codes, explained cryptocurrency commentator Cygaar in an April 11 X post.
AUTH will take the user's signature and intended action and verify that it has been signed correctly. AUTHCALL will then call the target contract to perform the transaction, but will assign the user as the caller instead of the calling contract.
