Content Co-Creation: EIP Fun Weekly 13

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This is a recurring issue used for co-creating EIP Fun weekly newsletter.

Expected Release Date

September 16, 2023, at 2:00 UTC

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Please share any ideas that could help co-create our newsletter in the comments.
Your input and collaboration are appreciated! Feel free to provide a title, pitch topics, link to resources, propose sections, or anything else that comes to mind for our newsletter.

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Links to previous newsletters: https://eipsfun.substack.com/
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And the most important thing: we really want this newsletter to be community driven! So any idea from you is welcome!

Have a good day and weekend!

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I think salt is a pretty interesting variable in Solidity, and it occurs frequently in EIP specification. Wouldn't it be great to be the Anecdate of the Week?

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EIP Events:
https://github.com/ethereum-cat-herders/EIPIP/issues/262
https://github.com/ethereum-cat-herders/EIPIP/issues/271
ercref/AllERCDevs#11
AllwalletDevs: Waiting to be announed in their Discord Server.

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EIP Updates:

1. New EIP: 7516 (Also related to ACDE 170 this week)
   Add EIP: BLOBBASEFEE opcode ethereum/EIPs#7688
   https://ethereum-magicians.org/t/eip-7516-blobbasefee-opcode/15761/1
   https://x.com/terencechain/status/1702331211836948765?s=20
   https://x.com/christine_dkim/status/1702342952557670733?s=20
   https://x.com/TimBeiko/status/1702423601037873449?s=20

2. ERC-5453 Endorsement Standard
   Review to Last Call
   Update EIP-5453: Move to Last Call ethereum/EIPs#7693

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EIP of the Week

1. EIP-7507: Multi-User NFT Extension, Add EIP: Multi-User NFT Extension ethereum/EIPs#7634
2. PEEPanEIP 4788: https://twitter.com/poojaranjan19/status/1701956907043357103
3. https://ethereum-magicians.org/t/eip-7510-cross-contract-hierarchical-nft/15687
4. https://ethereum-magicians.org/t/erc-7512-onchain-audit-representation/15683
5. https://twitter.com/EthCatHerders/status/1701295035973607453
6. Add EIP: Add Max Epoch Churn Limit ethereum/EIPs#7668

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Wrote one introduction for EIP 7516

What’s it & How to do it?

EIP-7516 adds a new BLOBBASEFEE opcode (0x49) that returns the current blob base fee, which is already computed by clients for processing blob transactions. Therefore, it provides an efficient way for contracts and decentralized applications (DApps) to access and utilize the "blob base fee" on the Ethereum blockchain without adding significant complexity.

This opcode is distinct from BASEFEE and complements the concepts outlined in EIP-4844, providing a focused solution specifically for handling blob data fees.

What’s its potential?

With EIP-7516, rollup contracts can automatically account for the blob data usage costs within their calculations, making them more efficient and cost-effective. EIP-7516 also enables implementations like blob gas futures by providing the current price (blob base fee) for using blob data. This allows users to make informed decisions about when to use blob data and at what cost.

Related EIPs

EIP-7516 relates to but differs from two other Ethereum Improvement Proposals (EIPs):

EIP-3198 (BASEFEE Opcode) introduced the general concept of an opcode to access base fee information.
EIP-4844 outlined how blob data should be managed on Ethereum.
EIP-7516 builds on these proposals specifically for blob data fees.

Who creates it?

EIP-7516 was created by Carl Beekhuizen and has been discussed on both the Ethereum Magicians forum and Twitter. Some concerns were raised about terminology used and whether a more generalized approach to accessing block header information could be developed.

Further reading

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Introduction for ERC-5453

What’s it & How to do it?

ERC-5453 was created to make it easier and more secure for people to approve and allow specific actions within the Ethereum blockchain.

ERC-5453 defines a protocol for permitting approving function calls within a single transaction. It provides two types of endorsements (Type A and Type B) and specifies validity parameters like nonce, validSince, and validBy. Users can create endorsements using this protocol and validate them as needed. It utilizes cryptographic signatures to ensure authorization.

What’s its potential (use cases)?:

ERC-5453 offers a range of potential use cases, including authorizing specific function calls, supporting multi-signature behavior, enabling endorsements from multiple parties in a single transaction, and improving the interaction of contract wallets with smart contracts. Its flexibility makes it applicable to a wide array of scenarios where transaction approval is required.

Related EIPs

There are some general references to related concepts and standards in the discussions about ERC-5453. If you're interested in exploring related EIPs or ERCs, you might want to investigate ERC-5750, EIP-2612, ERC-4494, EIP-712, and EIP-1271 for a more comprehensive understanding.

What’s its Author and Context?

ERC-5453 was authored by Zainan Victor Zhou (@xinbenlv). It is currently in its last call phase, and feedback from the Ethereum community is welcome!

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PEEPanEIP-4788

The PEEPanEIP-4788 video provides an overview of the EIP, including the design, implementation, applications, and status.

In this interview, the author explained key concepts like proof of stake, cross-layer communication, "beacon block root in EVM", and more topics related to EIP-4788.

For more details on this EIP enabling liquid staking, check out the full video which covers pseudocodes, FAQs, and messages to the community.

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Introduction of Cross-Contract Hierarchical NFT

What’s it & How to do it?
EIP-7510, the Cross-Contract Hierarchical NFT proposal, is an extension of the ERC-721 standard for non-fungible tokens (NFTs). It introduces a way to establish hierarchical relationships between NFTs from different contracts. This standard provides an interface for querying parent tokens of an NFT and determining whether a parent-child relationship exists between two NFTs.

What’s its potential (use cases)?
EIP-7510 has the potential to address various use cases in the NFT ecosystem, including:

• Enabling NFTs to generate derivative assets as new NFTs, such as a 2D NFT image creating a 3D model NFT.
• Supporting IP licensing scenarios where derivative NFTs are linked but not bundled with the original NFTs, allowing for separate ownership and trading.

Related EIPs
EIP-7510 builds upon the ERC-721 standard for NFTs.

While it addresses similar features to ERC-6150, it extends these capabilities to enable cross-contract relationships and support multiple parents.

It distinguishes itself from ERC-6059/superseded by ERC-7401, which focuses on bundling derivative assets with the parent NFTs.

What’s its Author and Context?
The authors of EIP-7510 include Ming Jiang (@minkyn), Zheng Han (@hanbsd), and Fan Yang (@fayang).

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The 13th issue of EIP Fun Weekly

English Version:
https://eipsfun.substack.com/p/eip-fun-weekly-13-transactions-endorsements
Chinese Version:
https://mp.weixin.qq.com/s/X45hkP5cQ9hXeSSq28nyOA

See you next issue!

Closing in favor #60