Asset owners (or custodians) generate private keys, sign messages indicating asset transfer, and then broadcast those messages to the public so that the world can verify the scarce asset hasn’t been double spent. Each private key is tied to a public key. Where KYC/AML are necessary, public keys can be mapped to some off-chain identity system (e.g.... See more

In summary, account abstraction moves crypto from the current approach of one-account-fits-all, where someone can lose everything with a small mistake, to a future where an account can be tailored to someone's needs. Where you can build a safety net for self-custody. And give them much slicker UX too.

Is wallet the right word? One challenge is that we’re designing for crypto as if it’s purely money (and maybe some NFTs) in a wallet. But the role of the wallet is growing and in the near future it will be so much more than that. Your crypto wallet can become your identity, your interests, your preferences, your knowledge graph, your communication.... See more