We are welcoming you to our weekly digest! Here, we discuss the latest trends and advancements in account abstraction, chain abstraction and everything related, as well as bring some insights from Etherspot’s kitchen.
The latest news we'll cover:
- Vitalik Introduces “The Splurge”: Quantum Security and EVM Upgrades
- Account Abstraction Community Hub at Devcon
- Kontos Blockchain Is Redefining Cross-Chain Transactions
- Rhinestone Protocol 1.0: Pioneering Smart Account Interoperability
- Arcana Wallet Unifies Multi-Chain Balances with Chain Abstraction
Please fasten your belts!
Vitalik Introduces “The Splurge”: Quantum Security and EVM Upgrades
Vitalik Buterin’s latest entry in his blog series on Ethereum’s future introduces The Splurge, a set of key updates focused on advancing Ethereum’s technology across multiple areas: improving the Ethereum Virtual Machine (EVM), enhancing account abstraction, and pioneering new cryptographic tools.
While earlier phases of the roadmap focused on individual milestones, The Splurge gathers various improvements needed for Ethereum’s long-term resilience and performance.
EVM upgrades are central to The Splurge, with the EVM Object Format (EOF) leading efforts to enhance Ethereum’s code structure. EOF will separate executable code from readable data, restrict dynamic jumps, and add explicit subroutines, making Ethereum more efficient and ready for further updates. Coupled with EVM-MAX and SIMD improvements, these adjustments aim to lower gas costs and support complex cryptography without precompiles.
Account abstraction receives substantial attention, with EIP-7702 aiming to integrate AA directly into Ethereum. This advancement will allow multiple forms of verification, including quantum-resistant options, multi-signature, and gas payments in ERC20 tokens, while preventing denial-of-service attacks and boosting usability for all users (including EOA users).
Ethereum’s gas structure, initially improved by EIP-1559, is set to benefit from a more sophisticated multidimensional approach. Proposed updates like EIP-7706 and EIP-7623 will bring separate limits and fees for different resources, reducing inefficiencies and optimizing block space management.
Exploring advanced cryptographic tools, The Splurge looks to future-proof Ethereum. Concepts like VDFs and indistinguishability obfuscation envision an ecosystem capable of handling high-security applications, decentralized decision-making, and seamless privacy.
Account Abstraction Community Hub at Devcon
Next week, the ERC-4337 team will host the AA Community Hub during Devcon in Bangkok! This is a dedicated space for attendees to connect, explore the latest developments in the Account Abstraction ecosystem, and join interactive workshops and discussions!
From November 12th to 15th, many teams and individuals will come together to share their knowledge. If you’re planning to attend Devcon, make sure to stop by the AA hub!
Discover more details on the workshops and discussions here: https://aa-hub.erc4337.io/.
Kontos Blockchain Is Redefining Cross-Chain Transactions
Kontos (KOS) introduces a Layer 2 omnichain account abstraction platform designed to streamline cross-chain transactions by unifying account management across multiple blockchains.
Using ZK and AA technologies, Kontos enables users to interact with Ethereum-compatible networks as if they were a single ecosystem. This eliminates the need to manage multiple private keys and wallets across chains like Ethereum, BNB Chain, and Polygon.
A core feature of Kontos is its “Broker” component, which automates cross-chain operations in the background. By handling asset pre-purchases and pre-paying gas fees, the Broker allows users to conduct transactions with just one fee, regardless of the number of chains involved.
The platform’s wallet offers a unified interface, simplifying user interaction with supported blockchains. Additionally, Kontos supports readable addresses and includes a Guardian-based recovery system, making account management and security more approachable.
Kontos also integrates AI-powered bots on platforms like Discord and Telegram, enabling intent-based trades and cross-chain transactions through natural language commands.
Rhinestone Protocol 1.0: Pioneering Smart Account Interoperability
TheRhinestone Protocol 1.0 has launched, introducing a groundbreaking interoperability solution for Modular Smart Accounts on EVM chains.
Built to address vendor lock-in, fragmentation, and security issues, Rhinestone allows developers to build and deploy “Modules” — self-contained smart contracts that enhance the functionality of any Smart Account. Modules serve as custom applications that seamlessly integrate with various blockchain environments, enabling extensible account features without platform-specific constraints.
Rhinestone’s infrastructure offers an innovative approach to developer flexibility. It includes a Module Registry for trustless validation and security attestations, Adapters for integrating with diverse Smart Account providers, and an extensive toolkit for account-centric development. This infrastructure aims to create a unified ecosystem for Smart Accounts, simplifying cross-chain operations and enhancing security.
By enabling permissionless innovation and a single-point Module distribution system, Rhinestone opens new avenues for application developers. Future upgrades with Rhinestone Protocol 2.0 promise expanded onchain permissions, resource locking, and built-in Module incentives.
Arcana Wallet Unifies Multi-Chain Balances with Chain Abstraction
Arcana Network has unveiled its beta version of the Arcana Wallet with Chain Abstraction, now available on the Chrome Store. This wallet introduces a seamless multi-chain experience, allowing users to unify their balances in USDC, USDT, and ETH across popular chains like Ethereum, Polygon, Arbitrum, Base, and Optimism.
With just one click, users can spend their unified balance without the hassle of bridging, and simplifying multi-chain transactions.
The wallet is powered by Arcana’s Chain Abstraction Protocol, offering key features designed to optimize user experience. This includes an EOA Wallet-Based Orchestration that lets users operate with their existing wallet addresses while retaining self-custody, as well as improved gas efficiency.
Additionally, Arcana supports universal addresses, eliminating the need for app-specific wallets, which means assets remain accessible across different applications without requiring deposits into new accounts.
Currently deployed on the Chain Abstraction Testnet, the Arcana Wallet demonstrates its chain abstraction capabilities on decentralized applications like Uniswap, Aave, and Jumper. As Arcana prepares for its Mainnet launch, developers can soon use the Chain Abstraction SDK to create chainless, user-friendly experiences across ecosystems.
At Etherspot, we recently published an article diving into EIP-7702, a proposal set to roll out with Ethereum’s upcoming Pectra upgrade. EIP-7702 moves Ethereum closer to true Account Abstraction, enabling Externally Owned Accounts (EOAs) to temporarily adopt smart contract-like functions.
The article covers the key benefits EIP-7702 brings, including streamlined transactions, gas sponsorship, and enhanced cross-chain capabilities, and explores the transformative impact it could have on both users and developers in the Ethereum ecosystem.
You can read the full article here.
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