🧞Why do we need account abstraction
🔥Restaking & Infra Day in Dubai was a blast!
GM and happy Monday frens🖖
All last week we saw jokes about liquidity and Dubai flooding. Thankfully, it's over!
Today we are going to talk about:
🇦🇪 Dubai event results
🔐 Impact of chain abstraction on Web3
📰 This week's news
🔥Restaking & Infra Day in Dubai was a blast!
🚀Despite the storm, we had over 400 guests! We did not even have enough badges for all the people coming. Thank you all for visiting us!
🌞All (almost) speakers made it to the event!
🤽We’ve had a great venue with the pool! Sadly, all of Dubai was a pool that day, so no one swam.
Have a great Token2049 week!
See you next in Brussels, on July 9! Don't forget to book the ticket!
🛠️Deep-dive: Why account abstraction is the future?
Insights from keynote "Empowering Web3: Account Abstraction's Role in Decentralized Innovation" by Michael Messele, co-founder of Etherspot from ETH Infra Day in London. Full version is here.
We need account abstraction to make Web3 more user-friendly
Account abstraction, particularly through ERC-4337, simplifies onboarding and interaction within the Web3 ecosystem by addressing common challenges such as complex wallet management, gas fees, and cross-chain interoperability.
The aim is to reduce the barriers to entry for average users, making decentralized platforms as easy to use as centralized ones.
Smart contract-based accounts
Account abstraction enables the creation of smart contract-based accounts that are programmable and modular.
This allows for functionalities such as social logins, streamlined recovery processes, and the ability to add or remove features through modules, similar to an app store.
This design makes Web3 interactions more intuitive and adaptable to users' needs.
New features for transaction management
Some of them are:
Batch transactions allow multiple operations to be executed with a single signature,
Session keys offer granular control over permissions and limits for specific dApps,
Paymasters can subsidize gas fees, enhancing the user experience by abstracting away some of the complexities of blockchain interactions.
⚡Blitz News
Avail Web3 Infrastructure Announces 600M AVAIL Token Airdrop
Web3 Startups Raise Nearly $1.9B in Q1 2024
Qtum Foundation Unleashes 10,000 Nvidia GPUs for AI Web3 Revolution
Former Disney boss launches Web3 game publisher with Marvel, Star Wars talent
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