The Ethereum blockchain has deployed a feature known as “account abstraction.” It’s seen as a key enhancement that could make it easier for users to recover crypto if they lose private keys to an online wallet.
,” seen as a key enhancement that could make it easier for users to recover crypto if they lose private keys to an online wallet., according to data on the blockchain explorer web site Etherscan and confirmed by Yoav Weiss, a security fellow at the Ethereum Foundation. The contract has already undergone a full security audit, people with knowledge of the matter told CoinDesk.
, so it didn’t require any changes to Ethereum’s underlying programming, which would be complicated to implement. This proposal just adds a new layer atop Ethereum’s mainnet layer. The goal is to eventually integrate account abstraction into the main protocol.Vitalik Buterin, co-founder of Ethereum,“We’re narrowing down an actual path for account abstraction, something we’ve always wanted but have not actually managed to have,” Buterin tweeted.
This upgrade was seen as a major milestone that would be years away, but the fact that it is already working on the Ethereum blockchain means that making crypto more user-friendly is here.On Ethereum, users can create two types of accounts that hold their crypto: External Owned Accounts and Contract Accounts .and Coinbase Wallet.
CAs on the other hand, are accounts controlled by code – not private keys – so they cannot initiate transactions themselves.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Ethereum core developers push Shanghai upgrade to early AprilThe long-awaited Shanghai upgrade is now expected to happen sometime in early April if the upcoming trial on the Goerli testnet goes well.
Read more »
Ethereum (ETH) Drops 5%, Mysterious Whale Shows 'Very Strange' Behavior: LookonchainMysterious whale shows 'very strange' behavior as $210 million in crypto gets liquidated. lookonchain $ETH cryptoliquidation
Read more »
Ethereum (ETH) Developers Announce Next Major Date for Shanghai Testnet UpgradeEthereum (ETH) developers reveal next schedule for Shanghai upgrade ETH $ETH
Read more »
ConsenSys zkEVM set for public testnet to deliver secure settlements on EthereumConsenSys is set to release its zkEVM rollup to a public testnet on March 28, allowing developers to build, migrate and test decentralized applications using the layer 2 scaling technology.
Read more »
Flashbots Makes Privacy-Enhanced Block Builder Open Source on Ethereum Testnet SepoliaEthereum research firm Flashbots is releasing a new privacy-enhanced block builder on Ethereum's Sepolia testnet, cryptauxmargaux reports.
Read more »
ConsenSys, Developer of Ethereum Software, Says zkEVM Public Testnet to Go Live March 28Zero-knowledge, or ZK, a type of cryptography, is seen as one of the year's hottest blockchain technologies. ConsenSys launched a private zkEVM testnet in December but is now opening it up for anyone to join.
Read more »