Quick Review: Understanding Account Abstraction in Blockchain

so we know that um in our normal ethereum there are two types of accounts we have the eoa and we also have the smart contract and basically you would have heard in the word of blockchain and in the crypto world that every single fund you have is attached to like your private key or one thing or the other yes and if you lose access to your private Keys all your funds are gone it might be locked up forever somebody else might steal it [Music] account abstraction is a method that allows smart contracts to function as externally owned accounts popularly called EAS so the EAS are the one that has um private keys that initiates transactions so and doesn't have a code but then the smart contracts owns code and can initiate transaction so the account attraction which is AFC 4337 is an implementation that brought about smart contract wallets now ideally you know in the eum network if you're going to initiate transaction you need an but um the introduction of account instraction made it possible to have a smart contract that behaves like an EA basically difference between these two accounts is that the EA is associated with your private Keys why the smart contract account deals with just the logic of your contract and what account abstraction basically provides is it gives a way where you can use like smart contracts to like create a an alternative um backup or credential for your private key in case you misplace it or in case you lost it which makes it a bit flexible account abstraction allows you to perform multiactor authentication on your account also allows users to um do what is called um account segmentation um a function that lets you to set limits on your account you know set daily transaction limits and all that the main essence of um account obstruction is for security and then um user experience you can include things like multi signature and some other things so transaction will not just be initiated by the EA account which normally know but in this case we can have a smart contract behaving like that um eoa and transaction in this case wouldn't just be called transaction it's now called user operation even if you don't want to make use of your private Keys you can always make use of um the logic embedded in your code to access your funds and it makes it more secure and makes life more easy so in general Essence the the essence of um account abstructure is to allow smart conract to behave like um e thank you [Music]