In its way to appeal to mainstream users, the Ethereum (ETH) blockchain has introduced account abstraction that allows users who lost their online wallet key to recover their assets.
As new and more mainstream users join the cryptocurrency ecosystem every day, the Ethereum Foundation ERC-4337 introduced a new standard known as Lost private key with ERC-4337 online assets in wallets transfer with two factor authentication like main current finance a set of applications security considerations Made available to Ethereum users.
Ethereum Foundation security officer Yoav Weiss took place on March 1 WalletCon in its activity, account abstraction While stating that ERC-4337, known as ERC-4337, is audited and enforceable, Ethereum Virtual Machine (EVM) such as BNB Smart Chain, Avalanche, Polygon and Optimism on any other blockchain compatible with available stated that.
In a statement on the subject, Weiss said that the future 1 billion on the user’s paper 12 words have to write won’t stay Because normal people things like this that you didn’t expressed. security officer, people availability stressed the importance of presenting
According to the information given clever One contract assistance with integrated Users thanks to account abstraction private keys to their phones You will be able to save money, make two-factor authentication, set monthly spending limits from the account., be able to use hand and face verification systems.
Weiss offers the new integration to users, any bank. without trusting of all the possibilities it offers. to benefit from stated that it allows
Ethereum Founder Vitalic Buterine He posted about the subject on his social media account. in a postfor computational abstraction while addressing technical details “It was something we always dreamed of but failed to achieve until now.” had used the words.
On the other hand, experts say that the application is currently other blockchains and layer-2s as low in cost-effective solutions on the Ethereum blockchain, although it might be ideal initial costs due to recent use low He said he could stay.