We are welcoming you to our weekly digest! Here, we discuss the latest trends and advancements in account abstraction, as well as bring some insights from Etherspot’s kitchen.
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ShardLab Launches Cutting-Edge App for Digital Identity

ShardLab, the innovation arm of global Web3 venture capital firm Hashed, has launched a web application powered by account abstraction and zero-knowledge technology. This app introduces a transformative approach to utilizing decentralized identity (DiD) and distributing vouchers seamlessly.

During Southeast Asia Blockchain Week (SEABW) 2024, ShardLab showcased the app’s potential by demonstrating blockchain-powered transactions with NFT vouchers at ICONSIAM in Bangkok.

Attendees could easily redeem their vouchers by scanning a QR code, which integrated smoothly with POS systems at over 60 restaurants and shops, highlighting the blockchain utility in real-world retail environments.

Key features of the app include digital identity verification through zero-knowledge proofs, enhancing privacy and security, and web3 digital voucher payments, simplifying transactions. Account abstraction further streamlines the crypto wallet experience, making the app user-friendly and accessible to a broad audience.

Hojin Kim, CEO of ShardLab, emphasized the app’s significance: “By integrating cutting-edge technologies like zero-knowledge proofs and account abstraction, we are paving the way for a future where blockchain is secure, straightforward, and convenient for everyday users.”

Particle Network Launches Chain Abstraction Coalition to Unify Web3

Particle Network has announced the launch of the Chain Abstraction Coalition, an alliance of L1 and L2 blockchain ecosystems dedicated to unifying Web3’s users and liquidity. This initiative addresses the fragmentation in the blockchain industry, which complicates user experience and fragments liquidity, slowing Web3 adoption.

Founded in May 2022, Particle Network has quickly become a key player in Web3 infrastructure, securing $25 million in funding and integrating its solutions with over 900 dApps.

The Chain Abstraction Coalition introduces Particle Network’s Universal Accounts, allowing users to maintain a single account and balance across multiple chains. This concept, live on Particle Network’s Testnet platform, Particle Pioneer, simplifies user interaction with various blockchains.

Recognizing the need for industry-wide collaboration, Particle Network has partnered with leading blockchains such as Arbitrum, Berachain, Avalanche, BNB Chain, and Botanix. Through the Coalition, members will embrace solutions that empower users and developers with greater interconnectivity.

Pengyu Wang, CEO of Particle Network, emphasized the importance of unifying the blockchain experience to overcome fragmentation and accelerate Web3 adoption.

The initiative, supported by Ethereum founder Vitalik Buterin, underscores the need for a unified Web3.

AA Mafia Discusses Security and UX

In a recent AA Mafia Telegram group discussion, members shared their thoughts on account abstraction and technical challenges in improving user experience and developer tools.

Accountless expressed concerns about the complexity added by session keys and universal wallets, arguing that designing around these problems without delivering solutions hampers progress. They also noted the proliferation of frameworks that often fail to work together, complicating development.

Dror Tirosh from the 4337 team explained how zkSync was inspired by EIP-4337 but modified the nonce scheme to align with native AA, simplifying it without the need to support legacy accounts. This sparked a broader discussion on integrating new AA features and the benefits of proposals like EIP-7702.

0xFirekeeper emphasized the beauty of simplicity in development, noting that EIP-4337 offers significant advantages, but added complexity from other EIPs could distract from core issues. They stressed the need for practical integrations that enhance user and developer experiences without overcomplicating the process.

The conversation also highlighted the importance of front-end support and UX. Members pointed out that despite extensive discussions on UX led by protocol engineers, designers and front-end developers often lack input, leading to technically sound but not user-friendly solutions. You can read the entire discussion here.

TON Applications Chain: EVM-Compatible L2 Using Polygon Tech

The TON Blockchain ecosystem, known for its affiliation with the popular messaging app Telegram, is set to expand with the introduction of a new layer-2 network called the TON Applications Chain (TAC).

Announced at the Ethereum Community Conference (EthCC) in Brussels, Belgium, the project is backed by The Open Platform, an investor focused on the TON blockchain ecosystem.

According to a press release shared with CoinDesk, TAC aims to bring Ethereum developers to the TON ecosystem, allowing them to build new programs for Telegram’s users.

TAC will leverage Polygon’s Chain Development Kit (CDK) and AggLayer to create a customizable and interoperable layer-2 network. This will enable EVM compatibility, allowing developers to port their Ethereum-based applications to the TON ecosystem effortlessly.

The new network aims to facilitate the development of DeFi applications, gaming, and decentralized identity solutions within the TON ecosystem. The integration with Polygon’s technology ensures seamless availability of liquidity from EVM chains and robust deployment support.

Ethereum’s $2 Million Attackathon to Bolster Security Before Pectra Hard Fork

The Ethereum Protocol Security (EPS) team has announced a $2 million Attackathon to enhance the security of the Ethereum blockchain.

Hosted by Immunefi, the event aims to crowdsource a security audit by offering bounties to researchers who identify vulnerabilities. Spanning four weeks, this will be the largest crowdsourced security audit for Ethereum’s codebase.

The EPS Foundation has committed $500,000 to the reward pool, with plans to raise the remaining funds from sponsors by August 1. The event invites the entire Ethereum community to participate, with detailed reports of discovered vulnerabilities to be published post-event. Immunefi, known for its expertise in web3 security, will manage the evaluation and reporting process.

The Attackathon is part of the preparations for the upcoming “Pectra” hard fork, set to go live by the end of 2024. Pectra will introduce upgrades to the execution and consensus layers of the Ethereum protocol and include new features such as “social recovery” for Ethereum wallets via EIP-3074.

Ethereum Community Conference (EthCC) in Brussels

Last week, Brussels hosted the largest annual European Ethereum event, the Ethereum Community Conference (EthCC). This four-day event is a central hub for technology and community within the Ethereum ecosystem, featuring intense conferences, networking, and learning sessions.

A notable segment of EthCC was the dedicated track on Onboarding, Wallets & Abstraction. This track featured speakers from various teams, including the Ethereum Foundation, Etherspot, Clave, Alchemy, Rhinestone, Quantstamp, OpenZeppelin, and more. The discussions focused on enhancing user experience and advancing wallet and abstraction technologies in the Ethereum ecosystem.

For those who missed it, all sessions from the Onboarding, Wallets & Abstraction track are available for viewing here.

One of the event’s highlights was the engaging debate between ERC-6900 and ERC-7579, aptly titled “The Abstracted Wars: 6900 VS 7579.” This debate delved into the nuances and future directions of Ethereum’s account abstraction proposals. You can watch the full debate here.

EthCC continues to be a pivotal event for the Ethereum community, fostering innovation, collaboration, and the advancement of blockchain technology in Europe and beyond.

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