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Your assets are not safe.
All it takes to lose your assets is losing your private keys.
Account Abstraction has presented a solution to this.
I spent hours understanding this narrative and in this 3mins read,
Find out what it means and how you can make money from it:👇
90% of crypto users interact with Externally Owned Accounts(EOA) - The likes of Trust wallet, Metamask, coinbase wallets.
But these wallets have some setbacks that I believe we are familiar with.
Some of the setbacks includes:
➛ If you lose your seed phrase, your wallet is gone.
➛ The user Interface is usually complex.
➛ You’d have to sign multiple times for a single transaction,
It’s generally hard to navigate and might discourage new users.
Account Abstraction provides you a solution for all these problems.
This is a new technology that is aimed at easing your experience, tightening security, allowing you to delegate transactions with the use of Smart Contract(Code) Wallets.
Smart Contract wallets allow users to customize how they want their assets to be managed.
Vitalik Buterin endorsed this idea and on March 1st they released ERC-4337 Account Abstraction.
The potential of this narrative is profound due to the improvements it adds to the security and how much it simplifies the blockchain.
The upgrade and features this new tech offers are the things we need for mass adoption in the crypto space.
Some of the features include:
➛ Gasless Transactions: You’ll be able to carry out gasless transactions, pay gas fees with the tokens you have.
You wouldn't need to have ETH or BNB for gas fees to send out or swap tokens.
➛ Seamless Interaction with Chains: ERC-4337 improves the way blockchains interact with each other.. It is available on networks compatible with the Ethereum Virtual Machine, such as Polygon, Avalanche, Arbitrum and several others.
➛ Removes Seed Phrase Reliance: Account Abstraction allows for secure wallets without private keys or seed phrases.
AA introduces flexible and user friendly options like Biometrics, 2-factor authentication, Security questions and more.
Simplifying the blockchain like this is certainly going to increase the adoption of Blockchain technology.
This means more users and more liquidity in the market.
Capitalizing on this upcoming narrative can be all you need to change your life in the bull run.
How can you do this?
➛ By looking out and buying into newly released projects that fall into this narrative.
➛ By looking out for already working products that integrate this narrative.
Below is a list of Projects that are integrating this tech.
➛ @cresowallet :This wallet provides all the benefits of Account Abstraction.
- Gasless Transactions
- Friendly User Interface
- Flexible and Enhanced security.
The token $CRE launched some months ago and has added to the pockets of early investors and is still showing strength with a mcap of ~$20m.
➛ @PlenaFinance : This is an Account Abstraction wallet launching on Tron network.
Tron network is among the top 3 chains with the highest number of users.
It allows you to
-Transfer, swap and bridge with ease
-Pay gas fees with any token
➛ @HoldstationW : Smart contract wallet built on zkSync that supports account abstraction.
Its features includes:
- Spending limits
- Batch Transactions
- Seedless Recovery
➛ @0xGasless is another project implementing account abstraction through gasless transactions.
It is a project you should keep your eyes on.
Account abstraction is looking like the future of Web3.
It's imperative to get familiar with it now.
Tagging Defi giga brains:
@Deebs_DeFi
@izu_crypt
@CryptoGideon_
@TheDeFinvestor
@VanessaDefi
@defi_octopus
@thesaint_
@SamuelXeus
@ViktorDefi
@ChillTRD
#AccountAbstraction #DeFi

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