Ethereum founder Vitalik Buterin Provided an update on plans for account abstraction. Given the progress made so far with this capability, Hegota’s upgrades could make it operational within a year, he said.
Vitalik Buterin provides an update on Ethereum account abstraction
in ×postVitalik Buterin said there has been progress on the account abstraction proposal he has been working on since the beginning of 2016. Currently there is proposal EIP-8141. Co-founder of Ethereum This solves all the remaining problems that account abstraction is trying to solve.
Account abstraction allows smart contracts to initiate and verify transactions. This upgrade will allow users to automate payments from their wallets while maintaining control of their funds. Vitalik Buterin highlighted “frame transactions” that enable abstraction of native accounts. One of the key elements of this is Ethereum features That means users can now pay for gas fees with tokens other than ETH through a paymaster agreement.
Vitalik Buterin gave an example of a user wanting to pay for gas with RAI. Assets backed by Ethereum. He said it could use Paymaster Contracts, a special purpose DEX that offers ETH in real-time. The Ethereum co-founder deconstructs the transaction frame, which includes deployment, validation, paymaster verification, users submit RAI for payment, and then execution takes place. The paymaster will then refund the unused RAI and convert it to ETH.
Meanwhile, the founder’s comments were announced. Ethereum Foundation Release ‘Strawmap’ outlines network plans through 2029 as developers work on aspects such as finality and transaction speed. Strawmap also indicated that native account abstraction could be a reality by the second half of this year.
How this aligns with Cypherpunk ETH’s vision
Vitalik Buterin says that account abstraction minimizes intermediaries, a fundamental principle that is “not ugly”. cypherpunk ethereumThis maximizes what users can do even if all infrastructure in the world except Ethereum goes down. This comes after Ethereum’s co-founders pointed out that the account abstraction mechanism is the same as the existing sponsored transaction mechanism, but without the need for an intermediary.
The Ethereum co-founder also touched on how account abstraction works in privacy protocols, noting that there are two strategies being focused on. The first is to create a payor agreement and Valid ZK-SNARK If you find one, pay for the gas. The second strategy is to add a 2D nonce. This allows individual accounts to act as a privacy protocol and receive transactions for many users in parallel.
Vitalik Buterin said that for Privacy Protocol users, this strategy means they can completely remove the “public broadcaster”, which is a source of “huge UX pain”, and replace it with a generic public broadcaster.
As of this writing, ETH price has increased over the past 24 hours and is trading at around $2,000. data From CoinMarketCap.
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