Contents
Account abstraction allows Web3 apps to use user-controlled wallets with seamless authentication and secure protection.
In this article: Hide
- Portis Wallet: Simplifying App Creation
- Ignitions: Account Microservice
- Web3 Authentication: Focus on Authorization and Security
- Patch: Social Media Wallet
- Biconomy: SDK for creating custom AA wallets
Account abstraction will accelerate in 2023, with its biggest selling point targeting end users. The biggest difference with the account abstraction is that Web3 app users don’t need personal cryptographic security. Account abstraction allows Web3 users to instantly receive their digital asset balance or NFTs simply by using their regular login. New users don’t have to go through the process of generating and safely storing 12-word phrases.
The account abstraction also means that the wallet is a kind of smart contract, allowing projects to provide an integrated experience without using MetaMask. A Web3 builder can choose multiple resources to create such a wallet. Play2Moon has selected the best account abstraction provider for 2023.
Account abstraction tools range from basic wallets to specialized authentication tools, linking identity in Web2 and ownership in Web3.
Portis Wallet: Simplified App Creation
The Portis wallet is an account abstraction tool that emphasizes its non-custodial nature. All smart contract wallets, or account abstraction wallets, do not hold funds on behalf of users and cannot lock or control funds. Portis can be embedded in any app and provides instant blockchain onboarding. The Portis tool targets directly the app builder team and her Web3 developers, rather than the end-user side as is the case with MetaMask.
Portis is a relatively old wallet, first appearing in 2021. This tool was created by ShapeShift, one of his early cryptocurrency services to facilitate the exchange of tokens and coins. Portis also provides similar easy exchange functionality by connecting to her Dex and Markets on behalf of the user. Portis allows end users to trade or exchange some tokens from within their wallet without having to specifically send their assets to an exchange.
Ignitions: Account Micro-Services
Ignitions takes a more client-oriented approach with carefully selected services. Ignitions offers widget-based wallet integration, allowing you to connect to MetaMask and use your in-game wallet as default. Widget integration is one of the tools provided to make integration into Web3 apps easier.
Ignitions also offers fast-access blockchain data, allowing players to see their game progress, NFTs they own, and other transactions within games and apps.
Web3 Auth: Focusing on Authorization and Security
Web3 Auth is one of the top sources for decentralized self-stored wallets with full control, but without having to hold your entire private key. This project focuses on Web3 authentication, secure signing of transactions, and ownership of assets.
Web3 Auth provides account abstraction and seamless Web3 authentication plus multiple tools for multi-party computation (MPC) wallets. The Keyp service specifically targets his NFT owners and gamers, while ZeroDev offers no-code integration for in-app account creation. The Safe Core SDK provides account abstraction and one of the most robust account abstraction wallets already holding billions of assets.
Patch: The Social Media Wallet
Patch Wallet bridges the Web2 and Web3 by connecting social media with tools for tokenized payments. Patch targets end-users and social media celebrities, connecting cryptocurrency accounts to social media handles.
Patch users can choose to accept tokens or NFTs through their Twitter handle, GitHub account, or other type of Web3 access point. Patch Wallet can also be integrated into your app. This will allow the user to retain social media handles while participating in her Web3 economy.
Patch users and businesses can also organize airdrops based on their existing social media connections. This makes NFT campaigns and airdrops faster and easier while preserving valuable existing identities.
Biconomy: SDK to Create Custom AA Wallets
Biconomy is one of the older tools for creating AA wallets for specific apps as an in-house solution. Biconomy provides a flexible SDK with customizable modules for integrating the wallet into your Web3 projects.
Biconomy also includes Web2 users who may retain Web3 assets and ownership. Biconomy’s main technology is an ERC-4337 wallet, compatible with Ethereum and running on specific smart contracts. Biconomy also helps the Web3 builder to integrate legal on-ramp and perform his traditional Web2 login which also provides secure ownership.
Account abstraction is still one of the possible solutions for more secure signing and use of smart contracts. Wallets where private keys are held only by end users are secure, but users may accidentally reveal their private keys through phishing.
No other MPC-type wallets with account abstraction or smart contracts have reported significant breaches so far. As of now, its risks are unknown, but it is better protected against phishing attempts and wallet leaks, and is suitable for listing authorization and pre-screening.
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