Trillion Dollar Security - Phase 2

The Ethereum Foundation has initiated Phase 2 of its “Trillion Dollar Security” project, targeting critical user experience vulnerabilities that hinder safe blockchain interactions. A major focus is eliminating “blind signing,” where users unknowingly approve transactions without understanding their consequences. To address this, Ethereum is promoting transaction decoding tools like the Verifier Alliance’s (VERA) contract database and developing a “Minimum Security Standard” for wallets, supported by a grant to Walletbeat. These efforts aim to guide users toward safer wallets and encourage wallet developers to implement transparent, compromise-resistant interfaces.

Key Ideas

Ethereum is tackling blind signing by promoting transaction decoding and exploring in-protocol transparency improvements.
A Minimum Security Standard is being developed to improve wallet safety and incentivize better UX practices across the ecosystem.

Why It Matters?

Startups now can develop ultra-simple wallets for non-technical users or enterprise-grade wallets with robust privacy, compliance features that align well with the Minimum Security Standard to enhance user trust and safety.. These products should meet the new security standards and address growing demand for secure, intuitive Web3 experiences.