EIP 1167 Could Be Applied To ETH Blockchain To Transform The Functionality Of Clone Contracts

Minimal Proxy Contract – EIP 1167 – which was created by Joe Messerman, Nate Welch, and Peter Murray, entered the “last call” on Thursday, August 3, 2018. The Ethereum Improvement Protocol (EIP) is open for remarks and recommendations for the next 14 days.

After the stipulated time, if everything goes smoothly, the code will be considered finalized. If the community rejects the Ethereum Improvement Protocol, it will re-enter draft status.

EIP 1167

The proposed improvement applies to the cloned contracts’ functionality and it is also aimed at reducing the price of gas in cloned contracts. Precisely, EIP-1167 lets cloned contracts (in any number) to redirect calls to a known address (the master contract), and for users to trust that the master contract will act in a similar manner as the redirecting contracts.

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The immutability of the code determines its trustworthiness: once the code is redirected to the master contract, it can’t be altered and the master contract is not replaceable. All the cloned contracts will stop functioning if the master contract self-destructs.

The dependence of the cloned contracts on the master contract and the immutability of the master contract may increase trust in users. Another significant function of this EIP is that it states the creation of contracts that will enable third-parties, like Etherscan, to probe the bytecode of the redirecting contracts (cloned) and determine the location of the master contract.

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Technically, the EIP 1167 would systematize “on a known minimal bytecode redirect implementation.” If it is finalized, this guideline will affect every developer trying to create a system of cloned minimal proxy contracts that redirects call to the master contract.

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At the time of wiring, Ethereum (ETH) is trading at $408 after an increase of 0.44 percent over the past twenty-four hours. The market cap of Ethereum (ETH) is $41.66 billion and its trading volume over the past twenty-four hours is $1.40 billion.


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