jakiro
Written by: imToken
Preface: In addition to mnemonics, how else can we manage assets?
For a long time in the past, mnemonic words were not only the only key to opening the door to Web3, but also the biggest psychological burden for many users.We must carefully copy, check, and save, because in the traditional account model, losing the mnemonic phrase (private key) means permanently losing the ownership of the asset.
Although such strict rules establish the security cornerstone of decentralization, they also constitute a threshold that prevents blockchain technology from reaching the public.So, is there a technology that can retain the core advantages of decentralization while making accounts as easy to manage and recover as Web2 applications?
The answer isAccount abstraction(Account Abstraction, AA for short).
This technology is redefining how digital assets are managed.imToken Web is a new generation wallet product built based on AA technology, trying to tell users: a more secure experience, without you needing to be half a cryptographer.This article will give you a popular explanation of the core logic of AA and how it will change your digital life.
The “Impossible Triangle” of Traditional Accounts
To understand the value of AA, we need to first look at the currently commonly used account model –Externally owned account(EOA), which is the account you currently generate in wallets such as imToken App.
The design of EOA is very low-level and rigid, and its core logic is “private key is everything”.Your private key is mathematically strongly bound to your account address.This architecture brings about an irreconcilable contradiction: in order to ensuresecurity(Not connected to the Internet, cold storage), we often have to sacrificeConvenience; And once you pursue convenience, you are easily exposed to the risk of private key leakage.What’s even more cruel is that there is no “retrieve password” option for this kind of account, and the error tolerance rate is extremely low.
In addition, EOA accounts also have many restrictions on interaction, such as the need to use native tokens such as ETH to pay mining fees (Gas).For new users who hold USDT but no ETH, this is often the first roadblock.
With the maturity of the Layer2 network, which has greatly reduced on-chain costs, as well as the finalization of the ERC-4337 standard and the entry into force of the EIP-7702 protocol, AA technology has finally ushered in an opportunity to become popular.It aims to break the above-mentioned deadlock and liberate the control of accounts from the underlying cryptographic rules.
Basic concept: from “key” to “smart housekeeper”
If you define AA (Abstract Account) in one sentence, it would be:Change the account from “key” to “smart housekeeper”.
In the traditional EOA world, rules are written at the blockchain protocol layer, and once the private key signatures match, the transaction is executed.In the AA world, the account itself is asmart contract.
This means that the rules for an account are no longer fixed;programmable.You can write various logics into the account, for example: “Only transfer when conditions A and B are met”, “Maximum transfer of 1000 U per day”, “If I lose my key, allow my guardian to reset it for me” and so on.
This transformation achieves the decoupling of “ownership” and “signature rights”.You still have an account, but the way you control your account becomes more flexible and is no longer restricted by a single private key.
How has AA changed your experience?
We can look at its advantages in detail from the four dimensions of verification (how to log in), execution (how to trade), fees (how to pay), and evolution (how to grow).
1. Verification logic: Say goodbye to mnemonic phrases and embrace a more secure “no-sense” login
The most intuitive change of AA is that it supports more advanced verification methods, allowing users to get rid of dependence on mnemonic words.
Hardware-level security experience
In an AA account (such as imToken Web), you can usePasskey(Passkey) to manage assets.This is a technology based on the WebAuthn standard that uses the security chip inside your phone (iPhone/Android) or computer to generate and store keys.
In daily use, you just need to passFaceID or fingerprintThe transaction signature is completed.This is not only more convenient than copying mnemonic words, but also more secure – because the private key is forever stored in the hardware chip and will not be exposed to the Internet.What’s more, pass keys are naturally anti-phishing.It strongly binds the key to the website domain name. Even if a hacker forges the website, he cannot induce you to generate a valid signature.
Account recoverability
Under the AA model, losing a device no longer equals “digital death.”Since the nature of the account is a contract, we can replace the “lock cylinder” through preset logic.For example, you can set up your EOA wallet, social account, or relatives and friends as “guardians”.When you are unable to access your account, initiate a recovery request. After confirmation by the guardian, you can reset control and retrieve your assets.
2. Execution logic: from cumbersome instructions to “intention” driven
Traditional on-chain interactions often involve cumbersome steps.For example, to buy coins on the chain, you usually need to initiate an “Approve” transaction first and wait for it to be uploaded to the chain; then initiate a “Swap” transaction and wait again.Not only is this a waste of gas, but the experience is also very fragmented.
AA supportAtomic batch transactions(Atomic Batching).Simply put, it can package multiple actions such as “authorization” and “redeem” mentioned above into one data package.For users, you only need to click “Redeem” once, and the background will automatically handle all steps.These steps will either all succeed or fail on the chain, and there will be no embarrassing situation of “authorization but no currency exchange”.
The extension of this capability is where Web3 will go in the future.Intent driven(Intent-Centric).Users only need to express the intention of “I want to exchange A for B” and do not need to care about the underlying paths and complex steps. The AA account combined with the back-end solver network will automatically find the optimal path for you and execute it.
3. Fee logic: Breaking the payment threshold of native tokens
For new users, the most confusing thing is: “I have 1,000 U of assets, but because there is no ETH in the account, I can’t transfer a penny.”
AA has introduced aPaymasterThe role of (payer contract) completely changes the payment logic of fees.It allows application parties to deploy a set of exchange rate calculation or subsidy logic on the chain:
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Token payment Gas:You can directly use the tokens in your account (such as USDC, etc.) to pay gas fees.Paymaster will automatically convert and pay ETH to Bundler (such as miners) for you based on the exchange rate in the background.This makes the Web3 payment experience as natural as swiping a credit card and is no longer limited to holding native tokens.
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Gasless:In some scenarios (such as new user registration, participation in activities), the project team can even fully subsidize the gas fee, and users will not be aware of the existence of gas at all when interacting.
4. Evolutionary logic: a wallet that grows with demand
The functions of traditional wallets are often fixed, while AA accounts are based on smart contracts, which gives it powerfulModularity.You can think of it as a steward who is constantly learning new skills and evolving based on your needs.
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Differentiated services:A newbie may only need the simplest transfer and payment functions, and the interface is simple and easy to use.
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Function extension:With the accumulation of experience, when you need to participate in complex interactions or manage large amounts of assets, you can “configure” new modules for your account, such as adding multi-signature protection, setting daily consumption limits, etc.
This modular design makes the AA account no longer a static tool, but an intelligent platform that can be flexibly combined to meet the needs of users throughout the life cycle from entry to proficiency.
The future of EOA: Can old accounts also be upgraded?
The innovative experiences mentioned above are mainly built based on the ERC-4337 standard.It is currently the most established AA path, but it often requires users to create a completely new AA account.
You may ask: “I don’t want to give up the old address I have used for many years, and I don’t want to go to the trouble of migrating assets. What should I do?”
Proposal EIP-7702 has the answer – it allows existing EOA accounts to implementIn-place upgrade.
The core mechanism of EIP-7702 iscode delegation.Traditional EOA can only passively execute private key signature instructions, while EIP-7702 allows you to “mount” a smart contract code during the transaction through a special signature.
This means that you still hold the original private key and address, but at the moment the transaction occurs, your account “transforms” into a programmable smart contract.This design cleverly breaks the non-programmable limitation of EOA, allowing you to directly call the various AA logics mentioned above without changing the address, seamlessly accessing a more advanced interactive experience while maintaining asset sovereignty.
Conclusion: Make your wallet “invisible”
The best form of technology is often when users are unaware of the existence of technology.
In the EOA era, users are forced to understand obscure cryptographic concepts such as private keys, Nonces, and Gas Prices. This is just like requiring everyone who surfs the Internet to understand the TCP/IP protocol.The ultimate mission of AA technology is to make the wallet “invisible” and powerful.
Through pass keys, we no longer need to face unfamiliar mnemonics; through Paymaster, we are no longer subject to the gas fee threshold; through modular design, the wallet can grow with us.AA is not just a technical upgrade, it is the only way for Web3 to move from the geek community to the masses.
