Ethereum
Preview of Ethereum Account Abstraction Roadmap Revealed
Yoav Weiss, developer for Ethereum (ETH), presented the Ethereum team’s vision for improving interactions with smart contracts and decentralized applications (dApps) by creating a standard known as ERC-4337. This standard facilitates smart contract crypto wallets on the Ethereum blockchain, where assets are controlled via smart contracts instead of externally held accounts (EOA). It adds a new element called UserOperation, which acts as a pseudo-transaction. UserOperations reside in alt mempool until confirmed, making operations more efficient for them.
The development of ERC-4337 is an effort by the Ethereum team, which includes Vitalik Buterin, to attempt to resolve issues with existing account models. These efforts aim to make Ethereum much more efficient and user-friendly, especially when interacting with dApps and smart contracts. Additionally, the ERC-4337 standard will make it easy for end users to have a more consistent experience across different applications on the Ethereum blockchain.
New Ethereum proposal to streamline L2 networks
As a follow-up to the ERC-4337 As part of this effort, Ethereum’s roadmap includes the launch of Rollup Improvement Proposals (RIPs), with RIP-7560 being one of the most significant. This proposal introduces native account abstraction (AA) to Layer 2 (L2) networks. Indeed, it seeks to integrate the different custom AA implementations found in different L2 solutions. RIP-7560 will be split into multiple triples that will target specific use cases such as validation processes, 2D nonces, aggregation techniques, and upgrades for external accounts (EOA).
Migrating to native AA on L2 chains requires fine-tuning of the RIP-7560 to facilitate smooth and efficient deployment. This migration process will improve overall network efficiency and user experience. Additionally, it will continue to be compatible with Ethereum Layer 1 (L1), enabling a consistent approach to migration across the network.
Vitalik Buterin Proposes Major Ethereum Account Upgrades
Vitalik Buterin defined four main goals for the future development of the Ethereum account system. These features are key rotation and depreciation, quantum resistance, batch processing capability, and support for sponsored transactions. Regarding the restrictions and constraints of the current External Account (EOA) model, Buterin’s vision is focused on moving to Smart Contract Accounts (SCA) which could provide better security and functionality.
The Ethereum core team is focused on improving the user experience through short-term incremental feature upgrades, while 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 refining the RIP-7560. Feedback from developers working on the Ethereum Object Format (EOF) is particularly valuable in ensuring a clear separation between protocol-level and user-facing aspects.