Revealing new Layer 2 + guide on account abstraction
Devconnect is over, but we're still with you😉
GM and happy Monday frens🖖
In this newsletter we are going to talk about:
🎙️Awesome event that happened last week
🔐 Importance of account abstraction & improvement tips
🚀Exploring the new zkEVM with a focus on security
Ready? Let’s go👇
🔥Thank you all for coming to Epic ETH Infra Day🔥
Guess what went down last week? Our team poured heart and soul into an absolute blockbuster — the Epic ETH Infra Day at Devconnect!
🎤We had stellar keynotes, panel discussions, and over 20(!) speakers representing powerhouses like NEAR, Quantstamp, Polygon, Tenderly, Taiko, Starkware, Oasis Network, and a lineup of more incredible companies!
🧠And don't forget about “Ask builders” sessions, where guests could get consultations from 18 industry experts! Pick their brains, collaborate on ideas, or simply expand the network in 15-minute sessions! Topics from surviving bear markets and bridging data into DeFi to launching the first Web3 social fund and privacy in Web3.
🤫Our next event is in February. Right now, we won’t spill the beans on its topics but stay tuned for the updates. It’ll be breathtaking (We hope so).
🗒️Subscribe to our Twitter to see recaps and summaries of those awesome keynotes to get your Web3 brain bigger:
Here’s a little present for you: scroll down to grab a summary of the Oasis Protocol keynote on account abstraction!
🔑How multi-chain account abstraction can help scale Web3🔑
Account abstraction is one of the most popular trends in Web3 right now. It allows for a more user-friendly experience when interacting with DApps.
Here’s a recap of the workshop: "Beyond ZK: Faster Multi-chain account abstraction" from Harry Roberts, Technical Product Manager @ Oasis Network🙃
🔒Why do we need account abstraction?
The need for account abstraction (ERC 4337) stems from design limitations in Web3, whereby each blockchain poses its own unique native currencies for gas payments and varied swaps/exchanges
Account abstraction, at present, helps streamline the disparities in Web3 usability, providing a more unified and user-friendly interface across different blockchain platforms Yet the current state of blockchain UX is still hampered by complex dApps and a reliance on browsers
🧮How to make AA simpler
A middle ground is needed to simplify integration and enhance user experience. Wallets, particularly those supporting multiple chains, are notoriously complicated
Confidential EVMs like Oasis Sapphire can further simplify the Web3 experience with multi-message protocol simplification. Contracts can manage keypairs, allow for faster information transmission, and act as coordinators, attesting the final state and bypassing complex schemes
💎The way Oasis Sapphire helps with AA
Oasis Sapphire enables:
Private contract states
An Ethereum-like experience for developers
Robust security measures against frontrunning
Encrypted transactions and state access
💚Zircuit — brand-new secure Layer 2💚
Zircuit is “a fully EVM-compatible, zero-knowledge rollup powered by the latest research in L2 technology”. They focus on security, reduced fees, and faster transactions.
Last week Zircuit announced its public testnet launch.
We asked them about the current state of the project and future plans⏬
🤝What's the main difference between Zircuit & other zkEVM roll-ups?
Zircuit is a fully EVM-compatible ZK rollup that uses a hybrid approach that combines ZK proofs with optimistic infrastructure. Another key difference is Zircuit has security at the sequencer level, meaning malicious transactions can be blocked while still allowing developers to see an attempt to hack.
🧧Zircuit has no governance token. Why did the team decide to use ETH & can we expect to have a governing token in the future?
ETH is something that everyone is used to and we wanted to make the experience as seamless as possible for both developers and users. At this time, we have no plans for a token.
👨🔬Right now there is public testing. What results would you consider a success?
We are looking for signs of stability at every level and every future step of development. Right now it’s all about testing. We want users executing a variety of transactions through various deployed protocols to see how well our prover handles them, and how close it can get to our theoretically estimated throughput.
We have a lot more features in development so are looking forward to testing them in the real-world environment and traffic, as opposed to very controlled and gated conditions. We also want to observe some general network and rollup metrics like node uptime, the stability of the connection to L1, statistics of the ETH supply and its handling, and more.
All right, that’s it for today! 👋 But wait…
You didn’t say “gm” on Twitter! Let’s catch up there for daily insights.
Sending growth your way,
Epic Web3