Ethereum developers propose ERC-7512 proposed standard to enable on-chain verification of smart contract audit information

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BlockBeats news, on September 19, Ethereum developers proposed a new standard ERC-7512, which aims to enhance the security of Ethereum’s smart contracts by standardizing smart contract audit verification on the chain. The proposal is jointly proposed by developers from projects such as Safe, Ackee Blockchain, OtterSec, ChainSecurity, OpenZeppelin and Hats Finance. The goal of ERC-7512 is to ensure that audit details, such as who conducted the audit and their findings, can be parsed by the contract to verify their authenticity. Currently, audits are provided manually by the team without an on-chain representation of their authenticity. The need for this standard stems from losses caused by issues discovered in smart contracts: more than $650 million has been lost in the first half of 2023 due to DeFi-related scams and hacks.

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