What Is Account Abstraction?

We've talked a lot about account abstraction on the podcast, but I think every time we talk to someone, we get a little bit of a different answer as to what it is and what it entails. So why don't you walk us through your idea of account abstraction? And I guess maybe how you guys are seeing it at alchemy and what you think that's going to offer for the space. Great question. The term account abstraction stems from the protocol's perspective in that there are two like separate account types. There's externally owned accounts,. And then there's these smart contract accounts.