Ethereum Foundation Announces New Grants Round to Support Development Around Account Abstraction

Ethereum Foundation Announces New Grants Round to Support Development Around Account Abstraction

The Ethereum Foundation has announced a new grants round to encourage development, research, and education around Account Abstraction and the necessary infrastructure to support it.

Starting on February 27, 2023, the Foundation will begin to accept proposals over the next four weeks. The deadline for submitting proposals is March 31, 2023. The grant application window is open to anyone passionate about building out the Account Abstraction ecosystem in a collaborative way, including individuals and teams from all parts of the world.

Account abstraction aims to simplify the UX in Web3 apps. It moves the complexities of custody, wallets, and blockchains to the background and replaces them with familiar UX. With account abstraction, users don’t need to download wallets and sign transactions every time they want to complete an action. Instead, transactions can be bundled and approved at once. That’s a vast UX improvement for Web3 applications.

Vitalik Buterin, the co-founder of Ethereum, has been vocal proponent about account abstraction. Buterin has said that account abstraction moves crypto from the current approach of one-account-fits-all to a future where an account can be tailored to someone's needs.

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