The feature is built on Ethereum’s EIP-8141, which makes programmable smart accounts a native protocol-level feature.
Algorand is opening up its ecosystem to the Ethereum network with a new feature that allows users of EVM wallets to sign transactions on Algorand directly.
The network announced that it’s shipping cross-chain account abstraction that lets Metamask, Rainbow and any other wallet built on the Ethereum Virtual Machine (EVM) plug directly into its dApps.
Breaking down the new feature, one of the core engineers at the Algorand Foundation explained that it’s an advancement of the network’s Logic Signatures. These are signatures controlled by code, not just a private key, and they decide if a particular transaction meets the predetermined requirements before approval. It’s a break from the popular industry model that only allows private keys to authorize transactions.
Algorand is now connecting the EVM to its AVM execution environment, where smart contracts are executed. He stated:
We are working on an EVM-to-AVM account abstraction system. This means that you’ll be able to use your Metamask, Rainbow or any EVM wallet to interact with Algorand dApps natively.
The new feature will offer complete isolation on Algorand. Users will get to approve transactions on the network from their Metamask or Rainbow EVM wallets in an isolated domain. The signatures they use on the network are useless anywhere else across the EVM world by design.
It will also be self-custodial, with the abstracted account being a piece of code that validates the EVM account signature. Only a user’s private key can authorize transactions.
The Foundation has provided a new toolkit to enable developers to easily deploy the standard and bring any EVM wallet to their Algorand app with only a few lines of configuration.
The feature comes days after Ethereum founder Vitalik Buterin discussed account abstraction, highlighting EIP-8141 as an omnibus for the work that the Ethereum Foundation has been doing for a decade.
One of the new features under the EIP is frame transactions, which contain multiple steps, such as validation, optional gas authorization, execution, and deployment. Frame transactions support multisigs, new signatures resistant to quantum attacks, gas paid in various tokens and privacy protocols.
He summed it up:
Basically the same thing that is done in existing sponsored transactions mechanisms, but with no intermediaries required (!!!!). Intermediary minimization is a core principle of non-ugly cypherpunk ethereum: maximize what you can do even if all the world’s infrastructure except the ethereum chain itself goes down.
Account abstraction on Ethereum will align with FOCIL, the proposed headline change under the upcoming Hegota upgrade. As CNF reported, Hegota is planned for later this year.
“FOCIL ensures rapid inclusion guarantees for transactions, and AA ensures that all of the more complex operations people want to make actually can be made directly as first-class transactions,” says Vitalik.
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