We are welcoming you to our weekly digest! Here, we discuss the latest trends and advancements in account abstraction, chain abstraction and everything related, as well as bring some insights from Etherspot’s kitchen.

The latest news we'll cover:

• Understanding Native Account Abstraction by Alex Forshtat
• Gnosis Founder Advocates for Native Rollups to Enhance Ethereum’s Decentralization
• Chain Abstraction Explained by Cointelegraph
• Project Liberty Joins Linea to Build Decentralized Social Media
• Etherspot’s “Chain Abstraction 101” X Space: Recap

Please fasten your belts!

Understanding Native Account Abstraction by Alex Forshtat

At Devcon 2024 in Bangkok, Alex Forshtat, a core developer for ERC-4337, presented a comprehensive roadmap for achieving native account abstraction on Ethereum. His talk highlighted key Ethereum Improvement Proposals (EIPs) and Rollup Improvement Proposals (RIPs) shaping the future of AA, including EIP-7702, RIP-7560, and EIP-7701.

Forshtat explained how these proposals aim to address current challenges in AA implementation. EIP-7702 introduces smart features to externally owned accounts (EOAs), enabling partial functionality akin to smart contract accounts. RIP-7560 simplifies account abstraction for L2 rollups, integrating AA as part of rollup consensus to reduce complexity. Meanwhile, EIP-7701 proposes a native AA framework using Ethereum’s EOF (Ethereum Object Format) for enhanced security and scalability.

Forshtat emphasized the importance of modularity and gradual adoption across Ethereum layers. He acknowledged existing solutions like ERC-4337 but noted their reliance on bundlers and external dependencies, which native AA aims to streamline. By sandboxing validation and separating it from execution, these proposals address potential risks such as cross-transactional dependencies and state conflicts.

Developers were encouraged to contribute feedback and participate in the ongoing refinement of these proposals. Forshtat underlined that achieving native AA is a long-term effort requiring collaboration across the Ethereum ecosystem, promising a more secure, user-friendly blockchain experience in the future.

Gnosis Founder Advocates for Native Rollups to Enhance Ethereum’s Decentralization

Gnosis founder Martin Köppelmann has called for Ethereum to prioritize “native rollups” over centralized Layer-2 solutions, emphasizing the need for decentralization to preserve the network’s ethos and long-term viability.

Speaking at Devcon 2024, Köppelmann proposed a network of 128 interoperable rollups built to Ethereum’s security standards, aiming to counter the risks posed by centralized rollups like Coinbase’s Base.

Native rollups align with Ethereum’s core principles by ensuring composability, uncensorability, and economic alignment with the mainnet. Unlike centralized rollups, they would be governed by Ethereum’s developers, with congestion fees and other revenues flowing back to the Ethereum ecosystem.

Köppelmann argued this approach could address liquidity fragmentation and restore Ethereum’s original vision of sharding through L2 innovations.

While some industry leaders, such as Ryan Adams of Bankless, praised the concept, others, like Uniswap’s Hayden Adams, proposed a middle-ground solution involving enshrined proof systems. Critics, including Anoma co-founder Adrian Brink, suggested that distinctions between rollup types might be more marketing than technical substance.

Köppelmann emphasized that centralized L2s pose risks, including potential censorship and exploitative fee structures, drawing parallels to Apple’s controversial App Store fees. Native rollups, he argued, would enhance censorship resistance, composability, and decentralization, ensuring Ethereum’s continued relevance in a competitive blockchain landscape.

Chain Abstraction Explained by Cointelegraph

Cointelegraph recently delved into the chain abstraction, highlighting its potential to revolutionize the blockchain user experience. By masking the technical complexities of Web3, chain abstraction enables seamless interaction across multiple blockchains through a unified interface.

Currently, blockchain users face fragmented ecosystems requiring multiple wallets, seed phrases, and manual token swaps. Chain abstraction addresses these barriers by automating processes like bridging and gas payments, allowing users to interact with DApps from a single account and currency. This unified approach simplifies transactions, enhances liquidity, and improves accessibility for both users and developers.

Projects like Near Protocol, Particle Network, and Xion are already working on chain abstraction solutions. These efforts aim to make blockchain usage as intuitive as Web2 platforms while maintaining Web3’s decentralization principles. However, the technology faces challenges, including interoperability across diverse blockchain networks and navigating regulatory hurdles.

As blockchain technology enters its second decade, chain abstraction stands out as a critical innovation for achieving Web3’s promise of mainstream adoption. With continued collaboration among developers and projects, it could transform blockchain interaction, making it accessible and efficient for everyday users.

Project Liberty Joins Linea to Build Decentralized Social Media

Project Liberty, led by billionaire Frank McCourt, has announced a partnership with Consensys, the leading Web3 company, to bring its decentralized social media to the Ethereum ecosystem.

The collaboration integrates Project Liberty’s Frequency blockchain with Consensys’ Linea L2 and MetaMask wallet, which has over 30 million monthly active users. This move aims to enhance compatibility and attract more users to Frequency’s Decentralized Social Networking Protocol (DSNP) while also generating fee income for Linea.

The partnership aligns with Project Liberty’s vision of reducing reliance on centralized platforms like X and Meta by creating an open, user-controlled social graph. McCourt emphasized that the project is “population-scale ready,” having invested $500 million and five years of development. He highlighted the potential for a fairer internet, free from “walled gardens” and surveillance capitalism, aligning closely with Web3 principles.

This initiative comes amid growing interest in decentralized alternatives, as dissatisfaction with traditional platforms drives users to competitors like Bluesky. Project Liberty’s approach aims to ensure interoperability across blockchains, envisioning a future where users control their data and interact seamlessly across platforms.

Etherspot’s “Chain Abstraction 101” X Space: Recap

On November 20, Etherspot held its first X Space, diving into Chain Abstraction and its potential to simplify blockchain interactions and accelerate Web3 adoption. Moderated by Alexandre, with guest speaker Anirudh, the session explored how ChA eliminates technical barriers like token bridging and wallet management, offering users a seamless, unified experience.

The discussion highlighted ChA’s synergy with AA, addressing challenges in cross-chain operations and emphasizing intent-based automation for improved usability. Security measures like resource locks were also discussed, showcasing their role in enhancing transaction safety and privacy.

If you’d like to listen to the full X Space recording, you can find it here.

We encourage developers to participate in the survey on AA adoption barriers, offering insights to shape Web3’s future and a complimentary one-month subscription to our Developer Plan.

Start exploring Account Abstraction with Etherspot!

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