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Ethereum: Departure from dynamic receiving addresses
From Q2 2023, the Ethereum network has departed from dynamic receipt addresses for all portfolios, including those using the QTi (QTI) portfolio software. This change is part of greater effort to improve security and reduce the risk of malicious entities choosing this susceptibility.
Problem with dynamic reception addresses
Dynamic reception addresses are generated by the portfolio software based on the phrase of the user’s seeds or the private key. This method has been widely used in the past, but was also used by attackers who can use these addresses to drain accounts without detecting.
In particular, the problem was that dynamic reception addresses can be easily falsified using phishing attacks or other forms of social engineering. If the attacker has obtained a phrase of seeds or a private key, he can generate a unique portfolio address, and then transfer funds to it, effectively releasing the account.
New approach: Static receive addresses
Ethereum has adopted a new approach to receiving addresses, which is based on static keys rather than dynamic seed phrases. This change was possible due to a significant improvement in the security of the Ethereum network, partly thanks to the work done by Vitalik Buterin and other team members.
According to the official announcement of Ethereum, the new approach uses a combination of cryptographic techniques to generate unique addresses receiving on the basis of a private key. This method is safer than dynamic addresses because it eliminates the possibility of falsifying the address or using phishing attacks.
Benefits of the new approach
The use of static receiving addresses has several benefits:
* improved security : The new approach reduces the risk of malicious actors choosing previous dynamic receipt addresses.
* Increased user convenience : Users no longer have to worry about managing many seeds and private keys for each portfolio.
* Faster implementation : Users can quickly configure their accounts using a static reception address, without having to make trouble generating a new address.
Application
The transition from dynamic receiving addresses is an important step forward for Ethereum safety. By using static keys, users can enjoy better safety and increased convenience during portfolio management. If you are currently using dynamic receiving addresses and want to migrate to a new approach, the introduced changes are worth considering.
