Why Account Abstraction is a Game-Changer for Dapps | Devcon Bogotá

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Native account abstraction on L2 is a breakthrough for the usability and security of crypto. It’s also the only way to scale self-custody. This talk explains what account abstraction is and why it matters for Dapps and their users. We’ll provide specific examples of features that it uniquely enables, such as session keys, fraud monitoring, multicall, social recovery and more. The end result is the unlocking of new experiences and use cases that can move the needle for crypto’s adoption.
Speaker(s): Julien Niset, Itamar Lesuisse
Skill level: Intermediate
Track: UX & Design
Keywords: UX,security,Dapps
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Devcon is the Ethereum conference for developers, researchers, thinkers, and makers.
Devcon 6 was held in Bogotá, Colombia on Oct 11 - 14, 2022.
Devcon is organized and presented by the Ethereum Foundation, with the support of our sponsors. To find out more, please visit ethereum.foundation/

[@0xatharva952]

Really great talk. loved it!

[@bautistabaiocchi-lora1339]

great talk, thank you!

[@iliandili]

Very clear!... Tnx for this!

[@faithamowe9980]

This is so brilliant. I learnt a lot.

[@zinstitute]

really helpful summarize!

[@ljrahn5619]

Brilliant talk

[@strawbryminiwheats]

awesome

[@EgorMikhalchenko-mb1ez]

Thanks for the presentation.
About Recovery:
Is it a real non-custodial that you allow a third party to create a key for you (that means one can use this key for their benefit)?
Case with Ledger looks like a multisig with 1 from 2 keys (the first is in your hand, the second is on Ledger, and if you lose both - your wallet is gone)

[@akshaydn5]

It can also have a social recovery model

[@EgorMikhalchenko-mb1ez]

@@akshaydn5 yes, it's better. I just asked precisely about the speaker's quote.

[@Psi-Storm]

@@EgorMikhalchenko-mb1ez He said there could be a 7 day delay between triggering a key swap and executing it, which you can cancel with the original key, to make sure the trustee doesn't just steal your stuff. If you then have a service that monitors your wallet smart contract, you would get daily warnings, that the trustee tries to change your access key. The important step is getting the new key from the trustee to the owner without anyone being able to intercept/copy it.

[@DaltonSweeney]

How does account abstraction solve the self-custody problem on L1 if EOA is still necessary to initiate the transaction made by the account?

[@adamuahmad5388]

Many signers

[@nameless0f]

The main thing is not that EOA is still necessary, but that if you lose access to your private key, you are able to recover it now

[@backwoodbarry]

Can someone please explain the difference between ENS and account abstraction?

[@NoMoWarplz]

Sure. ENS and account abstraction are both technologies that aim to make it easier for people to interact with the blockchain. However, they do so in different ways.
ENS stands for Ethereum Name Service. It is a system that allows people to register human-readable names for their Ethereum addresses. For example, instead of having to remember a long, hexadecimal address, you could register the name example.eth for your address. ENS makes it easier for people to remember and share their Ethereum addresses, and it also makes it easier to create more complex applications on the blockchain.
Account abstraction is a more general concept that refers to any system that makes it easier for people to interact with the blockchain without having to understand the underlying technical details. For example, account abstraction could be used to create a system where people could interact with the blockchain using a simple, graphical user interface.
The main difference between ENS and account abstraction is that ENS is a specific technology that is designed to make it easier for people to remember and share their Ethereum addresses, while account abstraction is a more general concept that could be used to create a variety of different systems that make it easier for people to interact with the blockchain.

[@ranjeetvhanmane5694]

#0xgas #AccountAbstractionSmart contract wallets redefine blockchain with enhanced security and flexibility

[@nilsinho]

awesome

[@dev.regotube]

awesome

[@tommywilczek8720]

awesome

[@metameqa]

awesome