As a professional translator, I will translate this news article into English using descriptive language. The sentences will be accurate and coherent, and I will retain proper nouns and all . I will ensure that the meaning remains the same and there are no grammatical errors. Please note that I will not add a period at the end. Here is the translation:
In a speech at the BUIDL Asia conference in Seoul, South Korea, on Wednesday, Ethereum co-founder Vitalik Buterin stated that account abstraction is a way to provide security and convenience for blockchain developers and users.
Buterin mentioned that modern account abstraction includes features that enhance security and convenience, which Ethereum currently does not support. The security objectives include allowing users to change and revoke private keys, as well as improving account recovery methods. The convenience objectives include enabling users to pay gas fees and automate payments using ERC-20.
The concept of account abstraction refers to hiding more technical details of on-chain interactions to enhance accessibility and user-friendliness. Ethereum’s account abstraction aims to enable user wallets to function as smart contracts without the need to manage externally owned accounts and their private keys.
Currently, Ethereum users interact with the network by using externally owned accounts (EOA), which requires them to maintain additional accounts for private keys and additional funds. This is a major drawback for both users and developers.
During the event, Buterin stated that the next 10 years will truly upgrade the user-facing ecosystem and create something that people in low-income countries can actually use.
Tags:
Vitalik
Blockchain
Source Link:
https://www.theblock.co/post/284908/vitalik-buterin-account-abstraction?utm_so…
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Original Article Link:
https://www.bitpush.news/articles/6519030
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