Unlocking Web3 Potential with Account Abstraction

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Account abstraction aims to make Web3 more usable and safe Let’s explore how Sapphire unlocks new use-cases for account abstraction: 🧵

On many chains, contracts can't have secrets This often requires external infrastructure For instance, controlling a Bitcoin wallet might involve setting up a committee to manage keys, leading to extra complexities and security concerns

Solutions often lean on custodial systems like wrapped BTC or the NPC approach of @renprotocol With confidential contracts signing their own transactions, the need for additional infrastructure diminishes significantly

A chunk of the 4337 ecosystem is built to counteract the limitations of transparent EVMs like Ethereum A pivotal aspect of Sapphire is its ability to generate secure randomness within a smart contract Historically, this has been a challenge, especially for Solidity devs

Sapphire also facilitates the creation of private and public key pairs for both encryption and signing, adding layers of confidentiality This ensures that even the contract developer cannot access specific keys

Picture this: Smart contracts that generate outcomes based on Solidity logic, where data or transactions can be securely signed Sapphire extends beyond a typical blockchain environment; it's a verifiable, secure enclave for computation

For example, Sapphire can be used to create fine-grained controls over account grants This means users can give specific permissions to accounts, allowing actions on their behalf—whether it's trading, copy trading, or more—all without revealing their private key

The @EmpyrealArb team has been exploring this, hinting at future applications where users can delegate flexible trading to different accounts This balance of privacy and delegation can redefine trust and control dynamics in the blockchain space

Another use-case: Say you wish to copy a prolific trader or follow a specific algorithm With the SDK being developed, you can grant a smart contract that authority And when you wish to withdraw that privilege? Simply revoke access — Trustless and smooth

The landscape broadens when you consider pool accounts managed by traders on behalf of multiple parties With the reduced gas costs on Sapphire, this allows for more sophisticated smart contracts — offering functionalities unimaginable on platforms like Ethereum or Arbitrum

At Oasis, we aim to elevate Web3 to compete with Web 2.0 in terms of sophistication The inclusion of confidential computation and Smart Privacy via Sapphire is a huge step forward in achieving this

Sapphire and the Oasis Privacy Layer aim to be hubs for offloading confidential computations Just as chains like Arbitrum cater to scalability needs, Sapphire aspires to handle confidential computational requirements, ensuring integrity and trustless operations

Start building with Sapphire and the Oasis Privacy Layer in the Privacy4Web3 Hackathon: p4w3.devpost.com/?utm_source=twitter&utm_medium=organic&utm_campaign=post