πŸ–₯️Account Abstraction Enabled UI/UX

COMING SOON

What is Account Abstraction?

Account Abstraction (facilitated by ERC-4377) refers to smart contract based wallets that give Users additional control and customizable functionality over a typical Externally Owned Account (EOA). Users are able to create β€˜User Operations’ which contain transaction details to be executed on behalf of the sender’s smart contract account.

Benefits to the User

Account Abstraction enables several revolutionary developments to improve the UI/UX experience on Cadence:

  1. Customizability

    • User Operations are able to bundle customizable instructions into a single transaction. This allows for User’s to automate complex transaction flows that were not possible before

  2. Improved UX

    • The base layer complexities of a transaction are abstracted away from Users. User Operations allow users to bundle multi-step transactions into a single one, pay for gas in non-native tokens, or even select a sponsor to pay their gas fees

  3. Enhanced Security

    • Rather than protecting a single private key, Smart Accounts allow for enhanced control and security over accounts. Users are able to sign transactions with social logins secured by MPC, enable social recovery settings, or can even set transaction limits/time-delays on their assets

How This Works with Cadence's Intent Centric System

One of the core features of Account Abstraction that is leveraged is enabling Solvers within our Intent-Centric Architecture (More information in the Intent section of the technical documentation) to open/close/edit positions on behalf of Users without requiring Users to relinquish control over their account.

Account Abstraction allows Users to set constraints over their account, thus, granting specific permissions over their account to Solvers (i.e. funding a position on the Users behalf) without having to reveal their private keys to the Solver.

Cadence will support traditional login methods to access their account based on Multi-Party Computation. Through a combination of traditional login methods (Email, Social Media, 2FA, etc.) Users will be able to combine key shards that are required to access their smart account.

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