The Future of Ethereum Accounts: Contract-Based Accounts – Shane Fontaine

Fri, Oct 2, 2020, 12:00 AM

This talk is from ETHDenver, the world’s largest Web3 BUIDLathon and Community Gathering. ETHDenver’s content is crypto and blockchain focused. Subscribe to our channel to learn more + connect on Twitter: https://twitter.com/EthereumDenver. Speaker: Shane Fontaine of Authereum Abstract: Contract-based accounts offer users a number of features that are not offered by traditional, externally-owned accounts (EOAs). The following advantages of contract-based accounts will be discussed: Batched-transactions allow users to execute multiple transactions in a single, on-chain transaction. This feature also allows dApp developers to design their dApps with a more natural feeling and, in some cases, completely remove the need to teach a user about the underlying mechanisms. Additionally, contract-based account meta transactions will augment this new dApp design and allow for a seamless Ethereum experience. Meta transactions aid in user onboarding by providing the ability to pay for a new user’s transactions or allow a user to transact in a token of their choice. The Ethereum experience with this feature will be unlike anything we have seen to date. A native cryptocurrency firewall does not exist at this time. Contract-based accounts allow for logic to protect users against malicious individuals, dApps, and entities by adding a security layer directly into the wallet itself. This feature coupled with meta transactions pave the way a traditional Web2 firewall to coexist with a Web3 one. Using a contract as a wallet also allows for more flexible recoverability. By associating funds with this contract (instead of a single key), a user can assign multiple keys as owners to funds. Losing one key may no longer force a loss of funds. Creative account recovery methods will be explored. Finally, the future of contract-based accounts will be discussed. Upcoming implementations and companies working on this technology will be reviewed and their pros and cons will be discussed. Advanced and theoretical topics on the subject will be presented to close out the talk. This talk was recorded Friday, February 14, 2020. ETHDenver 2020’s content themes included DeFi; DAOs and Token Engineering (TE); Gaming and Usability; Protocols and Interoperability; and Public Good and Social Impact. Industry experts also weighed in on topics like decentralization, privacy, identity, non-fungible tokens, scaling, governance, diversity, and arts and culture in blockchain technology. The 2020 event was February 14-16 in Denver, Colorado and hosted 2000+ blockchain enthusiasts, developers and community members from 50 countries and 50 U.S. states. 🔴 SUBSCRIBE ETHDenver’s YouTube https://www.youtube.com/channel/UCgz9NU06t_FkT0Py1Vadczw 💡 LEARN ETHDenver’s Official Website https://www.ethdenver.com/ 👋 CONNECT ETHDenver Twitter https://twitter.com/EthereumDenver 📖 READ ETHDenver News on Medium https://medium.com/ethdenver 🛍️ SHOP ETHDenver Official Merchandise bufficorn.com 💬 CHAT Telegram https://t.me/Ethdenver Discord https://discord.gg/jteMn5c 📱 FOLLOW LinkedIn https://www.linkedin.com/company/ethdenver Instagram https://www.instagram.com/ethdenver/ Facebook https://www.facebook.com/ETHDenver/