Ethereum's New Standard Aims to Prevent Billions in Hacks through Human-Readable Transaction Data

The Ethereum Foundation has introduced the ERC-7730 standard, a new security measure designed to prevent billions in hacks by making transaction data human-readable.

Blind signing has been a significant security failure in the crypto industry, with users approving transactions filled with unreadable hex strings and raw calldata without understanding what they are actually signing. This trust has cost the industry billions in lost funds due to phishing attacks, wallet drains, and malicious approvals.