ACCOUNT
ABSTRACTION
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Recovering web3 accounts have a
fundamental flaw that we have
simply accepted.
Once the private key is lost, they are unrecoverable, along with your entire
wealth, by design.
This violates the first law ofhuman centred design.
Humans are humans because we are flawed, we tend to lose things, misplace things and forget things.
This is also by design.
When systems are designed to simplify our lives, they need to account for our behaviours and always have a margin for error.
This is where accounts fail.
But what if thisDUMBaccount of yours...
BecameSMART
What if this account, let you create fallbacks that would make it easy to recover your wealth or simply...
just disappear altogether whilst
unlocking the same doors!
Your wealth in your control with recovery
mechanisms of your choice.
OTP? Fingerprint? FaceID?
You pick what best suits you!
This is where
ACCOUNT
ABSTRACTION
comes into play
is a concept that will make using crypto feel natural and similar to the
payments experience we are already used to in web2.
By using a complex set of technologies with a simplified interface on top, it
aims to bridge the gap between what currently feels alien to users.
Let’s imagine you’ve lost your recovery phrase to a malware attack
Your wallet is now a sitting duck for the hackers.
In this scenario you are pretty much helpless as your only way to login is via the recovery phrase or the actual private key which you no longer have...
With account abstraction you can generate new keys using social recovery or your preferred backup methods.
You can even add trusted guardians who can freeze your wallet too!