Account abstraction could bring the next billion users to Ethereum: Ambire CEO

In episode 19 of Cointelegraph’s Hashing It Out podcast, Elisha Owusu Akyaw talks to Ivo Georgiev, CEO of Ethereum smart contract wallet Ambire. Georgiev explained account abstraction and how wallets can bring more people to the network. 

Georgiev believes self-custody is an “extremely difficult” problem that can be solved with account abstraction. He explained that account abstraction makes crypto wallets programmable, giving them multiple keys and allowing features like two-factor authentication.

The CEO claimed that account abstraction could boost crypto adoption through new tools like embedding wallets on websites. “I think account abstraction will onboard the next one billion users on Ethereum,” he added.