- Ethereum Co-founder and core developer Vitalik Buterin took the main stage on ETH cc 2023 talking about Account Abstraction.
- Vitalik explained how account abstraction factored in the Ethereum ecosystem even after facing multiple challenges.
Account abstraction is a concept in Blockchain technology that refers to separating the user account layer from the smart contract layer to make it easier for users to operate their accounts. Vitalik has been pushing this idea to increase security in the Ethereum network while improving user experience.
Account Abstraction as a future path in crypto custody
He explained some of the key innovations around the account abstraction concept in the Ethereum ecosystem and some of the current hurdles they face. He recognized that developers still have many issues to deal with to bring the full potential of Account Abstraction to life.
In his report, he added that more developments are needed in the existing Ethereum Improvement Proposal (EIP) that is meant to upgrade current Ethereum Externally Owned Accounts (EOAs; normal users accounts) into smart contract accounts that can execute transactions automatically and covertly.
Vitalik highlighted that challenges around current technology behind wallets and networks would be a major obstacle in actualizing this dream. However, he expressed excitement about the development behind this concept, explaining that he is confident more progress will come in the future.
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