According to Foresight News, developers from Safe, Ackee Blockchain, OtterSec, ChainSecurity, OpenZeppelin, and Hats Finance have proposed the ERC-7512 standard. The aim of this proposed standard is to enhance the security of Ethereum smart contracts by standardizing on-chain validation for smart contract audits.
The ERC-7512 standard seeks to improve the overall security of Ethereum smart contracts, which are self-executing contracts with the terms of the agreement directly written into code. By standardizing the on-chain validation process for smart contract audits, the developers hope to create a more secure environment for these contracts to operate in.
This proposal comes as the Ethereum network continues to grow in popularity and usage, with more developers and users relying on smart contracts for various applications. Ensuring the security of these contracts is crucial to maintaining trust in the Ethereum ecosystem and preventing potential vulnerabilities that could be exploited by malicious actors.
