Valentine's Day was not updated, but it will be made up for today. Continuing from the previous "About Account Abstraction", this is the second part.
- Projects can pay transaction fees on behalf of users.
Projects can act as the "payer" to pay for gas on behalf of users. This greatly reduces user friction.
- Different signature schemes.
Today's Ethereum relies on a single signature scheme - ECDSA. It is important to note that the only way to change this is through Account Abstraction. The benefits include: turning every smartphone into a hardware wallet, different signature schemes allowing the use of secure areas on iOS and Android devices to turn smartphones into hardware wallets. With over 6 billion smartphone users worldwide, this change will make today's hardware wallet market seem insignificant.
- Quantum resistance.
We know that quantum computers are coming and can break ECDSA. As Vitalik wrote, with account abstraction, it is possible to explore "post-quantum secure signature algorithms (such as Lamport, Winternitz)".
- More efficient signature algorithms.
This can be achieved by performing fewer computational steps when verifying transaction signatures in smart contract wallets, resulting in lower gas fees.
- Scalability.
Since accounts are contracts, they can use a well-known proxy pattern and delegate execution to an implementation. If the proxy is programmed to be upgradable, users can upgrade the code of their accounts when new features become available.