1/ For their new web3 browser, Coinbase decided to use a multi-party computation (MPC) wallet.
When explaining why, they listed several "drawbacks" of smart wallet technology - all of which are false.
Which begs the question: how does MPC really stack up against smart wallets?
Ivo 7702/acc
7,260 posts
CEO & founder @Ambire; Entrepreneur and coder for 15 years, started with gamedev, cofounded @heyAura, now building the future of web3 UX
Joined January 2010
- 1/ What if I told you Account Abstraction has already been live on Ethereum for >4 years? Everybody's talking about AA, but what is it exactly and how does it relate to smart contract wallets, or to MPC wallets? 🧵 time, let's demistify AA, ERC-4337 and smart contact wallets
- OpenZeppelin removed isContract ELI5 on why this is huge for account abstraction: so far, dapp developers used .isContract for reasons such as "to stop bots minting my NFTs", "for security", etc. Doing this completely break interactions with AA wallets such as Safe, Ambire,OpenZeppelin just released v5 of their contracts repo The most tragic loss of all may be the deletion of Counters.Counter, which was used to increment numbers. Its removal has taken a heavy toll on the NFT community, who can no longer figure out what tokenId should come next
- Ethereum recently celebrated it's 10th birthday - and for that time, we've built a fantastic ecosystem that we all love using, but it's also on the verge of being mainstream - all the foundations are there. So how does "mainstream" look like and is it bad for us cyberpunks?
- So @AndreCronjeTech nailed it with the "token goes down, project sucks; token goes up, community did it" rule But the article is missing the incredibly toxic "investor" word - as in, someone who aped into some token thinks they're an investor and devs suddenly owe them
- I've been arguing with Tesla fanatics that autopilot is nothing more than an overmarketed, but worse version of what normal carmakers call adaptive cruise control Hopefully your tweet will change someone's mind but I doubt it
- Ethereum reminds me a lot of high school - every few weeks there's a new trend and everybody HAS to do it otherwise you're not cool Plus, the drama
- I've been critical of Eth2 in the past due to the coordination difficulties and the misleading messaging by the community ("eth2 is launching") But credit where credit is due, the beacon chain is probably the most decentralized PoS chain so far, with the lowest barrier to entry
- A short story about signing messages via account abstraction wallets: Ambire was one of the first AA wallets to make it easy for people to connect to dApps on desktop (not mobile), and in that process, we were among the first to be overwhelmed with support requests that signing
- Replying to @Ivshti @ricburton and 2 othersTesla people sort of remind me of the Ethereum community, when you have genuine criticism they say something like "oh it's just a temporary issue, it's normal with all the innovation and progress"
- hey @PancakeSwap, this is not ok You're discriminating against smart contract wallets, including @safe (secures $80 billion), and over a million of ERC-4337 accounts That's not a right way to do things - your contracts should be secure regardless of who the caller is







