Ethereum Account Abstraction

We’ve noticed there have been many misconceptions around modular account standards, and wanted to highlight some of the latest thinking there: https://mirror.xyz/probablynoam.eth/ZM8k-YoVbC-ih13zPMPZ5q4iZ7wEHuWEcRbQNrRiURU.

Takeaways to call out 👇

account abstraction intern @alchemyplatform

The discourse around the two standards is great and absolutely necessary to push the ecosystem forward, and we appreciate the breadth of perspectives and opinions here and they're facilitating great discussion.

We’re excited about the quickly growing 6900 ecosystem and continue to think that the permissions model is an important way to address a particular slice of the security spectrum. We also understand that everything has tradeoffs and are excited to see developers explore 7579.

A deep dive into ERC-7579 highlights that because ERC-7579 is so focused on granting flexibility to account developers, it doesn’t standardize account behavior enough for plugins to generalize across different account implementations.

That is, plugins developed for one 7579 account won’t necessarily work on other 7579 accounts which limits interoperability and doesn’t solve for vendor lock-in. Hopefully some of the above feedback can be useful in continuing to iterate on that specification as well.

Lastly, security is complicated and there is no silver bullet - no one solution is going to make an account system all of a sudden “secure”. We wanted to share some more thoughts on how we think about the overall security story.

That said, as soon as it turns into teams punching at each other it becomes zero sum and not constructive. It is important to us, and hopefully to all of you, to keep the framing and discussion positive to continue to grow the pie.