Ethereum Will Allow Transactions Without Users Holding ETH in Wallets

3 Min Read Tags:

  • Ethereum developers moved EIP-8141, known as Frame Transactions, to Scheduled for Inclusion during an Aug. 27 meeting, CoinDesk reported.
  • The proposal would separate the account initiating a transaction from the account paying its gas fee, allowing users to transact without holding ETH.
  • Frame Transactions are slated for the Hegotá upgrade, currently expected in 2027 after Glamsterdam.

Ethereum developers moved EIP-8141, or Frame Transactions, to Scheduled for Inclusion during an Aug. 27 meeting, officially placing the proposal on the roadmap for the network’s Hegotá upgrade, CoinDesk reported. The feature matters because it would allow users to transact without holding ETH for gas, either by paying fees through stablecoins or having an application cover them.

Under the current plan, Hegotá is expected to take place in 2027 after the Glamsterdam upgrade.

“Over the past few months, significant progress on EIP-8141 has quietly taken place,” Ethereum co-founder Vitalik Buterin, one of the proposal’s 10 authors, wrote.

How Frame Transactions would work

Ethereum users currently need to hold ETH to pay gas fees. That requirement can prevent a wallet owner holding only USDT or USDC from transferring those stablecoins, even when the wallet contains enough funds to cover the transaction’s value.

EIP-8141 would divide a transaction into separate stages. One stage would handle the user’s authorization, another would specify who pays the fee, and the remaining stages would execute the required operations. The account sending assets and the account paying gas would therefore no longer need to be the same.

A payments application, for example, could cover a user’s fee. Alternatively, a user could pay the service in stablecoins, with the service converting the payment and sending the required amount in ETH to the Ethereum network. The network itself would continue to receive its fee in ETH.

Frame Transactions would also allow multiple actions to be bundled into a single operation. Users could configure their own transaction-authorization rules, making it possible to change access keys or wallet security settings without moving funds to a new address.

EIP-8141 remains in draft form, and its technical details may change. Frame Transactions are not currently available to regular Ethereum users, CoinDesk noted.

Source: Incrypted

Bitcoin Draws Record Retail Inflows as Experts See $70,000 Support

CryptoQuant said 30-day retail bitcoin inflows to Binance rose from $5.5 billion to a six-month high of $10.75 billion, while whale inflows fell and traders’ $70,000 realized price could support…

4 Min Read
Argentine Court Drops LIBRA Criminal Case Against Javier Milei, 10 Others

An Argentine federal court dismissed the criminal case against President Javier Milei, his sister Karina Milei and nine others over LIBRA’s collapse, finding insufficient evidence of fraud, corruption or other…

5 Min Read
Bitcoin Hits $79,500 Target as Ethereum Faces Pressure Before Fed Meeting

An unnamed trader said a Bitcoin short reached its final $79,500 target, while an October close below $80,000 could open a decline toward $72,500 and $70,000.

6 Min Read
Bank of Israel Criticizes Netanyahu’s Plan to Bypass Sanctions With Cryptocurrencies

Israel’s central bank and opposition politicians criticized Prime Minister Benjamin Netanyahu’s proposal to develop an alternative economic system, potentially using cryptocurrencies, to avoid possible banking sanctions.

3 Min Read
Hong Kong Approves 24/7 Trading of Tokenized Investment Funds

Hong Kong’s SFC approved the world’s first secondary trading of tokenized public investment funds on a licensed virtual asset platform, where PantherTrade began trading two ChinaAMC funds on October 15,…

3 Min Read