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Bearish Sentiment

November 11, 2022

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digital daily: Make It Easy

Your keys, your crypto. A single password is required to sign every step as you interact onchain. The rigidity can be a source of strength, but it degrades the experience, making blockchain applications slow and unfamiliar. Users want seamless integration with current habits. They want biometrics on their mobiles to do the dirty work of cryptographic signing. They want point-and-click apps, not five-step transactions. They also want to pay for transactions in digital fiat, not worry about having enough network tokens to pay transaction fees. In our daily digital lives, we are accustomed to a near-seamless experience. Mass blockchain adoption will require meeting the same bar where the user experience becomes so seamless most will forget about the underlying rails. Last week was a leap forward to this end – the concept of "account abstraction" became a reality in the Ethereum developer community. A programmable smart contract can now sit between the user and the blockchain, signing on their behalf and automating tasks. The new layer in between creates choice. Want to use FaceID to sign your transaction? Want a one-click app that pays "gas" on behalf of the users? Both are now possible. Account abstraction creates the potential to connect a seamless Web2 experience to the power of a decentralized blockchain. However, it is early days. Account abstraction is complex and unfamiliar to developers. The infrastructure is untested at scale and will likely cause problems as kinks are worked out. But the potential is impossible to ignore. We all want easy. When we get it, adoption follows.