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Interoperability

Efforts to enhance interoperability between blockchain networks are gaining momentum, particularly in gaming and NFTs. Ryan Adams and David Hoffman discuss how Apple's recent policy changes could open up new possibilities for crypto assets, previously hindered by incumbents like Apple and regulatory figures such as Gary Gensler 1. Adams highlights the potential for gaming assets to become interoperable across platforms like Fortnite and Roblox, envisioning a future where a standardized system allows for seamless item transfers 1.

If we had a standards body standardize what our portable outfits in games, game outfits you could buy in one game that work in another, then you could have an item economy where every game agrees to respect each other's items.

--- Ryan Adams

The Metaverse Standards Forum, involving major companies like Epic and Microsoft, is working on these standards, though revenue-sharing remains a sticking point 2.

   

Smart Contracts

Smart contract technology is evolving, with significant improvements in Ethereum wallets. Ryan Adams and David Hoffman explore the benefits of smart contract wallets, such as native social recovery and session keys, which enhance user experience by simplifying wallet management 3. Hoffman explains how Ethereum's latest upgrade, EIP 7702, introduces account abstraction lite, allowing externally owned addresses to execute contract code temporarily, enabling batch transactions and reducing transaction failures 4.

The benefits of smart contract wallets are being bestowed upon them.

--- David Hoffman

These innovations mark a shift towards more user-friendly and efficient blockchain interactions, potentially reducing the need for multiple wallets 3.

   

Payment Protocols

The resurrection of the 402 payment standard by Coinbase is set to revolutionize micropayments on the internet. Ryan Adams and David Hoffman discuss how this long-dormant web standard, originally intended for web-based payments, is being revived as an open-source protocol on HTTP rails 5. This innovation allows for seamless microtransactions, such as AI bots paying for external services using stablecoins, thus enhancing the digital commerce landscape 5.

Microtransactions for AI bots settled on base, which settles to Ethereum using stablecoins.

--- Ryan Adams

This development could fulfill the early vision of integrating payments into the internet, offering new opportunities for digital content monetization 5.