Everything About Account Abstraction: Etherspot joins Fuse in Web3, X1 partners with Particle Network, SafeAuth’s launch, Cronos zkEVM testnet is live, & AA Core Devs call #24

Everything About Account Abstraction: Etherspot joins Fuse in Web3, X1 partners with Particle Network, SafeAuth’s launch, Cronos zkEVM testnet is live, & AA Core Devs call #24

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December 20, 2023

We are welcoming you to our weekly digest! Here we discuss the latest trends and advancements in account abstraction.

Please fasten your belts!

Etherspot and Fuse collaborate to enhance Web3 through validator role and advanced tools

Etherspot has recently announced a significant advancement in its collaboration with the Fuse network. Etherspot has become a validator on the Fuse network.

Additionally, Etherspot is revolutionizing the Web3 experience by providing Fuse developers with their advanced Account Abstraction tools.

Developers can now access Etherspot’s suite of tools, including the Prime AA SDK, ERC-4337 Skandha Bundler, Arka Paymaster, and data APIs to create ERC-4337-compliant decentralized applications.

These tools offer functionalities like gasless transactions, fiat on/off ramps, and recovery guardians.

Mark Smargon, CEO of Fuse, expressed excitement about the formalized partnership with Etherspot: “We’ve collaborated closely with the Etherspot team and have shared a longstanding professional relationship. Their unwavering commitment to their expertise is truly remarkable, and we’re thrilled to formalize this partnership and embark on a journey to push the boundaries of what Web3 payments on Fuse”.

OKX’s X1 integrates with Particle Network’s Smart WaaS

OKX’s Ethereum-based Zero Knowledge Layer-2 network, X1, has integrated with Particle Network’s Modular Smart Wallet-as-a-Service (WaaS). This collaboration leverages the robust features of the Polygon Chain Development Kit.

Particle Network’s intent-centric approach improves Web3 accessibility with technologies like the Intent Fusion Protocol and Confidential zkStack.

The integration expands X1’s testnet capabilities and ecosystem, which are already hosting over 50 projects.

X1, prioritizing scalability, security, and reduced transaction costs, supports Ethereum compatibility for diverse EVM-based dApps and smart contracts.

Web3Auth and Safe launch SafeAuth for improved user onboarding in Web3

Web3Auth, a leader in Wallet-as-a-Service (WaaS), and Safe, known for Account Abstraction, launched SafeAuth.

Web3Auth combines Multi-Party Computation, Account Abstraction, and various login methods for an intuitive, non-custodial wallet experience.

Safe, formerly Gnosis Safe, secures about $54 billion in assets, aiming to standardize secure digital asset, data, and identity custody with its Safe{Wallet} and Safe{Core} platforms.

SafeAuth focuses on user convenience and security. It allows users to create Safe Smart Account wallets using social logins, secured by Multi-Party Computation and bypasses traditional seed phrases.

Tobias Schubotz of Safe highlights the partnership’s role in advancing an accessible, interoperable blockchain ecosystem. SafeAuth’s design promotes interoperability, letting users access hundreds of dApps with one account, akin to using a single login for various apps.

This functionality extends to over 190 applications, including Aave and CowSwap, via Safe{Wallet}, offering unprecedented ease and connectivity.

Yong Zhen Yu, Web3Auth’s CEO, emphasizes the interoperability SafeAuth introduces, simplifying dApp interactions.

Cronos launches zkEVM chain testnet

Cronos Labs launched the Cronos zkEVM testnet, a significant addition to Ethereum layer-2 rollups using zkSync’s ZK Stack, marking it the first “hyperchain”.

This testnet is the third blockchain developed by Cronos Labs, following a Cosmos appchain and an EVM-compatible chain. Unlike its predecessors, it employs ZK Stack hyperchain technology.

The collaborative effort includes Cronos Labs, Matter Labs (zkSync developers), and teams from Crypto.com and dApp developers. It’s built atop Ethereum’s Sepolia testnet and incorporates Boojum, zkSync’s STARK-based, open-source prover, offering low hardware requirements and fees.

Ken Timsit of Cronos explains the move to a native Ethereum chain stemmed from challenges in bridging across EVM and Cosmos-Ethereum chains. The decision was influenced by the richness of the Ethereum ecosystem, especially for DeFi and NFT applications.

Hyperchains like Cronos’ zkEVM benefit from ZK Stack features, including Ethereum mainnet bridges and trustless bridging mechanisms. They also leverage zkSync’s native account abstraction, allowing transaction fee payments in various cryptocurrencies, including Cronos’ token (CRO).

Timsit highlights the advantage of starting with account abstraction, simplifying the migration of Ethereum assets. The zkEVM mainnet is expected in Q2 2024.

Other ZK Stack hyperchains are in development, like GRVT, a derivatives exchange, and Tradable, focusing on private credit. These hyperchains promise enhanced scalability and Ethereum integration. Matter Labs sees them as superior to app-specific Cosmos chains, offering better security and native Ethereum token bridges.

Hyperchains also compete with networks like Polygon and StarkWare’s Starknet in building zkEVM chains. They could replace private blockchain frameworks like Hyperledger or Corda, offering Ethereum’s benefits without the high costs and social coordination challenges.

Ava Labs’ Core wallet does ‘seedless’

Ava Labs announced a shift to a seedless system for its Core app, aiming to enhance Web3 adoption and cross-chain functionality.

This update enables key generation and management through Web2 methods like Gmail and Apple logins, maintaining self-custody and security.

Core’s Seed Abstraction, a central feature, supports various blockchains and virtual machines (VMs), facilitating the use of Core-generated seeds across diverse chains, including Bitcoin and Ethereum Virtual Machines (EVMs). This approach simplifies cross-chain transactions and addresses issues associated with multiple contracts.

Core’s Seed Abstraction offers superior cross-chain functionality compared to ERC-4337, which is limited to EVM chains and dependent on contract deployment locations. Core’s technology allows transactions across different environments, including Bitcoin, Avalanche C, X, P-Chains, and any EVM.

Key updates from ERC 4337 Account Abstraction Core Devs call #24

During the 24th ERC 4337 call, the core developers discussed another bunch of significant topics.

First, they talked about plans to change how user operations are encoded and decoded, aimed at saving gas and distinguishing between on-chain and off-chain operations.

Also, there was a discussion on the implementation of mempool subnets.

A Pull Request submitted to the bundler spec aligns with eth2, focusing on the gossip subdomain’s no-sign flag policy. This requires review from key developers.

The team decided not to run a relay on Sepolia and focus on Holesky instead. Testing will continue on GLE with a potential future shift to Holesky.

Some other topics included user operation encoding, pagination system needs, pagination keys, and efficient data and message handling in the protocol.

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Start exploring Account Abstraction with Etherspot!

  • Learn more about account abstraction here.
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