Vitalik: Account abstraction provides security and convenience to blockchain developers and users

Account abstraction is a way to provide security and convenience to blockchain developers and users, Ethereum co-founder Vitalik Buterin said Wednesday during a speech at BUIDL Asia, a cryptocurrency conference in Seoul, South Korea. According to Vitalik, modern account abstractions include additional features not currently supported by Ethereum that could improve security and convenience. Security goals include allowing users to change and revoke private keys and better means of account recovery, while convenience goals include the ability for users to pay for gas in ERC-20 and payment automation. Vitalik also said: "The next 10 years will be about really upgrading the ecosystem at the user level so that we make something that people in low-income countries around the world can actually use." During the Q&A session after the presentation, Vitalik was asked about his thoughts on the concept of the Metaverse, stating: "To me, the Metaverse is one of those things that is very poorly defined. It feels like everyone expects there to be one for them. A metaverse where everyone can participate.” "But the challenge is that it's often associated with virtual reality, but with virtual reality, the kind of things that people really need end up being much simpler." (The Block)