Ethereum

Coin

<ul class="news-points"> 
 <li>Vitalik Buterin detailed how “paymasters” will allow users to pay for gas fees using whichever coins they are using to make the transaction.</li> 
 <li>Account abstraction enables users to switch from externally owned wallets (EOAs) to smart contract-based wallets.</li> 
 <li>Buterin believes that the upgrade can bring billions to Ethereum.</li> 
</ul> 
In a recent talk at the Ethereum Community Conference (EthCC) in Paris, Ethereum founder Vitalik Buterin detailed how an account abstraction upgrade that allows users to pay for gas fees with coins used for transactions, can bring in billions of people to <a href="https://coinedition.com/what-is-ethereum-complete-guide-to-the-2nd-largest-blockchain-project/" target="_blank" rel="noopener noreferrer nofollow">Ethereum</a>. 
For context, account abstraction enables users to switch from externally owned wallets (EOAs) to smart contract-based wallets. If this upgrade is successful, it could make managing wallets far more efficient and easier than it is today. This, Buterin and the community believes, could enable widespread adoption of crypto.&nbsp; 
Moreover, the crypto space is rife with users who have either lost their seed phrase or have had it stolen from them. With account abstraction, users can create non-custodial wallets that function as <a href="https://coinedition.com/vitalik-buterin-cautions-on-risks-of-extending-ethereums-consensus/" target="_blank" rel="noopener noreferrer nofollow">programmable smart contracts</a>. Wallet recovery is, reportedl… 
The post <a rel="noopener noreferrer nofollow" href="https://coinedition.com/account-abstraction-could-bring-billions-to-ethereum-vitalik-buterin/">Account Abstraction Could Bring Billions to Ethereum: Vitalik Buterin</a> appeared first on <a rel="noopener noreferrer nofollow" href="https://coinedition.com">Coin Edition</a>.

Account Abstraction Could Bring Billions to Ethereum: Vitalik Buterin

Coin Edition

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