SCOOP: Ethereum will announce that Account Abstraction is already live on the blockchain at ETHDenver, cryptauxmargaux reports
,” seen as a key enhancement that could make it easier for users to recover crypto if they lose private keys to an online wallet.smart contract called EntryPoint
The Ethereum Foundation, which helps to fund and steward development on the blockchain, is expected to announce the development later Wednesday at the ETHDenver conference at a WalletCon event at 5 p.m. MT, the people with knowledge of the matter said. Once the announcement is made, several infrastructure providers will announce plans to support ERC-4337 through their services.
Account Abstraction is a concept that turns users' wallets into smart contract accounts, in order to make Ethereum wallets more user-friendly and to prevent any loss of crypto keys. With EOA’s, users are given a pair of private and public keys, and anyone can send crypto to an EOA using their public key. On EOA’s, only the owner of their account, the person who has access to their private keys, can initiate transactions.
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