Revealing Insights into Ethereum Account Abstraction Roadmap
Ethereum (ETH) developer Yoav Weiss outlined the Ethereum team’s vision to improve smart contract interactions and decentralized applications (dApps) by creating a standard called ERC-4337. This standard promotes smart contract cryptocurrency wallets on the Ethereum blockchain where assets are controlled through smart contracts instead of Externally Owned Accounts (EOAs). Add a new element called UserOperation, which acts as a pseudo-transaction. UserOperations reside in an alternate mempool until resolved, making operations more efficient.
The development of ERC-4337 is part of an effort by the Ethereum team, including Vitalik Buterin, to address issues with the existing account model. These efforts aim to make Ethereum much more efficient and user-friendly, especially for dApp and smart contract interactions. Additionally, the ERC-4337 standard makes it easier for end users to enjoy a more consistent experience across different applications on the Ethereum blockchain.
New Ethereum proposal to simplify L2 networks
As a follow-up to the ERC-4337 efforts, the Ethereum roadmap includes the release of Rollup Improvement Proposals (RIPs), with RIP-7560 being one of the most important. This proposal introduces basic Account Abstraction (AA) over Layer 2 (L2) networks. This is because we are trying to integrate various custom AA implementations found in various L2 solutions. RIP-7560 is split into several segments targeting specific use cases, such as verification processes, 2D nonce and aggregation techniques, and externally owned accounts (EOA) upgrades.
Migrating to native AA in the L2 chain requires fine-tuning the RIP-7560 to facilitate smooth and efficient deployment. This migration process improves the overall efficiency and user experience of the network. Additionally, it remains compatible with Ethereum’s Layer 1 (L1), enabling a consistent approach to migration across the network.
Vitalik Buterin proposes upgrading major Ethereum accounts
Vitalik Buterin outlined four main goals for the future development of the Ethereum account system: These features include key rotation and retirement, quantum resistance, batching capabilities, support for sponsored transactions, and more. Regarding the limitations and constraints of the current Externally Owned Account (EOA) model, Buterin’s vision focuses on a transition to Smart Contract Accounts (SCA), which can provide better security and functionality.
The Ethereum core team is focused on improving the user experience through incremental feature upgrades in the short term, while also pursuing a more comprehensive long-term strategy for the evolution of the platform. Collaboration with L1 core developers, L2 developers, and the broader community is essential to improve RIP-7560. Feedback from developers working on the Ethereum Object Format (EOF) is particularly important to clearly distinguish between protocol-level and user-side aspects.
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