Buterin: Ethereum Blockchain Still Doesn’t Have Account Abstraction

Ethereum Developer Vitalik Buterin expressed dissatisfaction with the lack of abstraction of accounts on the network Ethereum.

Account abstraction is a technology that allows cryptocurrency blockchain users to apply smart contract as its primary crypto wallet. It was implemented into the ETH network on March 1, 2023, but Buterin claims that the abstraction still doesn’t work properly, as in order to access it, you need to:

• pass verification using the ECDSA public key algorithm;
• use the services of an intermediary.

Account Abstraction Technology Operation Scheme

You can’t protect yourself from quantum computers without eliminating the reliance on a middleman to make transactions. You can’t create a private protocol that isn’t based on a (vulnerable) public ecosystem.

 

We have a lot of hard work to do to fix this. I hope we don’t become even more dependent on intermediaries before we get this problem fixed, Vitalik wrote.

Dependence on intermediaries not only increases the likelihood of hacking crypto storage and smart contracts using quantum computers, but also increases the risk of transaction censorship and increases the level of network centralization. The creators of the NONOS operating system propose to achieve full-fledged account abstraction using the cryptographic protocol «Zero-knowledge proof» and cryptographic attestation, making it possible to perform any operations without the participation of third parties.

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