TL;DR

• Yesterday, ​Vitalik Buterin discussed​ the idea of switching from Externally Owned Wallets, to ​smart contract​-based wallets.

• Instead of forcing users to create ​wallets​ in the way they do today (which requires you to remember a random assortment of 12 words, in order), it would instead allow them to create ​non-custodial wallets​ as smart contracts.

• In ETH-Daddy's words: "managing a crypto wallet would become as easy as managing an email account.

Full Story

​The Ethereum Community Conference (ETHCC) is on in Paris at the moment which means Vitalik Buterin (aka the founder of Ethereum; aka ETH-Daddy) is out there, talking about some crazy, awesome, new ideas.

Yesterday, ​he discussed​ the idea of switching from Externally Owned Wallets, to ​smart contract​-based wallets.

"Cool, nerd, what's that mean?"

The general idea is based around a concept called '​account abstraction​.'

Instead of forcing users to create ​wallets​ in the way they do today (which requires you to remember a random assortment of 12 words, in order), it would instead allow them to create ​non-custodial wallets​ as smart contracts.

The final result would mean things like account recovery would become much easier, without jeodpordizing a wallet's security in the process.

In ETH-Daddy's words: "managing a crypto wallet would become as easy as managing an email account."

While this is a bit of a tough concept to explain/understand, the good news is, if implemented correctly, 'normal folks' (you and I) shouldn't need to know how the sausage was made, all we care about is having a nice, easy, user experience.

And that is something that is much needed in the ​Web3​ space!