Vitalik Shares Account Abstraction Challenges | Crypto Daily Digest July. 19

During the EthCC (Ethereum Community Conference) event in Paris, Vitalik Buterin discussed some of the key innovations that account abstraction brings and the current hurdles it faces.

Currently, most Web3 applications require users to download a wallet to get started. On the other hand, account abstraction allows for a range of onboarding options. Applications can integrate with existing wallets, or users can log in with their familiar username and password.

With account abstraction, users no longer need to download wallets and sign transactions every time they want to complete an action. Instead, transactions can be bundled and approved all at once.

However, there are challenges that must be overcome for Ethereum to adopt account abstraction. This includes developing an EIP to upgrade the current externally-owned Ethereum account, i.e. the normal user account, into smart contracts, and ensuring the protocol works similarly in Layer 2 solutions.

Today's Market

Headlines

U.S. SEC to Commence Review of Spot Bitcoin ETF Application, Initial Decision Deadline Set at 45 Days

Linea Reveals Linea Voyage NFT Collection, Starts Airdrop for Eligible Participants

Starknet Introduces Starknet Appchain

Other News in Case You Missed it:

Synthetix Targets Launch of Perps V3 and Infinex in Q4

Axelar Launches Interchain Token Service to Improve Interoperability, with SushiSwap Adopting

Presidential Candidate Robert F. Kennedy Jr. Says to Back US Dollar with Bitcoin

$116 million Pre-mined $ETH Transferred to Kraken Exchange After Dormant for 8 Years

Former FTX COO Constance Wang Joins Sino Global Capital

Polygon Labs Announces New Governance Framework for Polygon Ecosystem

Manta Network Raised $25M, Led by Polychain Capital and Qiming Venture

Zero-Knowledge Infrastructure Company RISC Zero Raised $40M, led by Blockchain Capital

CoinFund Raises $158 Million for New Early-Stage Crypto Startup Investment Fund

Polychain Capital Raises $200M for Fourth Fund

What's New from TokenInsight？

Is a “Decentralized Binance” on the Horizon?: A Complete Guide to Trading-Focused Order Book Protocols

Grandma's Trading Recipe - HiNFT: NFT Trading Reinvented: Starting with the concept of "Fractional NFT", this course will introduce you to hiNFT, a revolutionary choice of NFT trading proposed by the Fracton Protocol.

Crypto Exchange Report 2023Q2: Bitcoin has been fluctuating around $30,000 for an entire quarter. Has the crypto industry been stagnant due to regulatory concerns? Perhaps we can find the answer from the data of exchanges.