The Block Crypto News11 minutes ago

Published on March 27, 2024 03:49 GMT+00:00edited on March 27, 2024 03:54 GMT+00:00

Ethereum co-founder Vitalik Buterin said account abstraction is the way towards providing security and convenience for blockchain developers and users during his Wednesday speech at BUIDL Asia, a crypto-focused conference in Seoul, South Korea.

A modern account abstraction includes other features that improve security and convenience that Ethereum currently does not support, according to Buterin. Security goals include allowing users to change and revoke private keys and better means of account recovery, while convenience goals include users being able to pay gas fees in ERC-20s and automation of payments.

The concept of account abstraction refers to the concealment of more technical details of on-chain interactions in favor of accessibility and user-friendliness. Ethereum’s account …