Arbitrums surpasses Ethereum in daily transactions

Account abstraction to enable smart contracts on a per-basis basis

Gelato and Safe are bringing their Account Abstraction infrastructure and developer SDK to Base, a new Layer 2 (L2) solution for Ethereum, just in time for ETHDenver.

This move, confirmed by Gelato, will enable Web3 developers to use smart contracts as first-class citizens, instead of Externally Owned Accounts (EOA), from the start, defining a common standard and offering users a better experience when interacting with decentralized applications (dApps).

Account abstraction allows third parties to perform transactions on behalf of users, meaning users no longer need to own the original asset to pay for transaction fees, they can recover wallets in case of lost private keys, and enjoy batch transactions for a simpler user experience, among other benefits .

Base’s transaction fees are significantly lower than Ethereum’s, making it practical to deploy smart contract wallets for all users and sponsor transactions on a larger scale. Also, the platform has the advantage of starting with a “clean slate”, which allows developers to build dApps with account abstraction already in mind.

Developers can use a single powerful SDK to access all the features of Account Abstraction out of the box for the launch of the Base testnet, including social onboarding, gasless transactions and fiat ramping.

The introduction of Account Abstraction and smart contract-based wallets will accelerate the adoption of L2 solutions such as Base. The Base, Safe and Gelato teams will reward hackers at ETHDenver for building interesting use cases that showcase the power of Accounts Abstraction in combination with cheap transactions on Base L2.

What is Gelato:

Gelato is web3’s decentralized backend that allows developers to create extended smart contracts that are automated, gasless and off-chain aware on all major EVM compatible blockchains including Ethereum, Polygon, Fantom, Arbitrum, BNB Chain, Optimism and many more .

Website | Twitter | Blog | Documents |

What is base:

Base is a secure, affordable, developer-friendly Ethereum L2 built to bring the next billion users to the Web3. Base is built as the optimal environment for budding Web3 developers to build on using the RPC testnet endpoint or choose from node providers: QuickNode, Infura and Blockdaemon. Developers can start building on the Base testnet today and watch for the upcoming mainnet launch

Find out more about Coinbase here:

Website | Twitter | Blog |