Thursday, December 7, 2023
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Account Abstraction – but academically popular

Recently, at the ETH Denver event, there were 2 rumors that people talked about the most, of which 1 was fake, and the other was true in the future SEC will ban staking services like LDO and regulation. They are like securities and the rest is the concept of account abstraction. ## UPGRADE FROM IBANKING TO MOMO WALLET _ I took the example just now to make it easier for you to imagine the difference between the EOA wallet we often use and the upcoming Account Abstraction wallet technology. The whole article we will go. dive into the differentiating details of the two and the exciting things this new wallet can do. _ Actually to make the example more correct, we should take the ball as an example: The previous EOA wallet will be like a monolithic ball and can do all the functions in the same wallet, and the AA wallet will be the same. Like a ball but assembled with lego – that means you will have the right to customize your wallet, keep whatever function you like, and use whatever function you like. ## THINGS AA CAN DO. **Tweak as you like**: This is the heart of the matter this time, you can fine-tune what functions should be retained for your wallet. Our previous EOA wallet was a collection of all functions in one place, now we can separate each function into separate accounts. Functions such as paying gas fees, approve or sign, store, etc., … Separate all and then combine we will have a great security combo Example: + Account A will only be used to save To store transaction tokens, if you want to make transactions, you need to have: + Account B to sign (sign) to confirm transactions – In addition, wallet B has no other functions + Your C account will be used to pay the gas fee for wallet A and must set the correct amount of gas you set (1 password type) to make a transaction + And even, you can set limit spending for wallet A every day How much is the maximum or signing key (pass for signing transactions – 2-layer security) => If you set the conditions for the transaction to be like this, the transaction will only be completed if all requirements are met. the above condition => You adjust which wallet is what function, then it will only have that function in addition, there will be no other functions Specific example: Custom the maximum number of tokens (limit) that can be spent – auto payment Or is that we can separate everything and customize it into utility combos like this. **SOCIAL RECOVERY** The problem of losing keys is one of the main motivations for teams to promote this. Now you can customize your wallet a few ways as follows if you want to prevent the loss of your private key Set 3 address is the restorer, in case you lose your password, a pass change transaction will be sent to the guardians. You just have to ask your restorers to sign the transaction. Or you can set a pending order like this: If I don’t make any transactions within 3 months – my account pass will be lost. automatically change to 000 Or connect to social networks like facebook, twitter to do that or even FaceID, fingerprint lock. **One for all** Previously, if it was the first time to trade a crypto pair, you would have to sign once at the approve stage, sign again at the transaction confirmation stage. Now with just 1 click, everything will be signed in 1 time **Pay gas fee in another token** Previously, paying gas fee only used coins of the network you are using. If you run out of ETH as a gas fee, you will need to swap from USDT to ETH and then make the transaction you need. Now, 1 click, your wallet will automatically convert usdt to ETH (buy gas fee) and then make the transaction you need much more convenient right **Allow / Deny list address** Previously , restricting which wallet addresses can be received is only available on Centralized exchanges like Binance. Now with AA , you can do it in Defi World ! more secure ! Sleep better =)) **General mechanism of action.** The user will now send a bundle tracsaction , called a packet transaction . The validator will check every detail in the transaction packet to make sure that the package is valid and then post it to the enthereum block End. Thanks for reading.

Source: Collector



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