We are welcoming you to our weekly digest! Here, we discuss the latest trends and advancements in account abstraction, chain abstraction and everything related, as well as bring some insights from Etherspot’s kitchen.
The latest news we’ll cover:
- Starknet Unveils Ambitious Layer 2 Integration Plan
- How EIP-7702 Will Impact DApp Developers?
- Biconomy’s Universal Blockchain Interface
- Reddio Integrates AI into Parallel EVM Ecosystem
Please fasten your belts!
Starknet Unveils Ambitious Layer 2 Integration Plan
Starknet has announced its plan to become the first layer 2 network to settle transactions on both Bitcoin and Ethereum, aiming to expand DeFi opportunities by transforming Bitcoin from a store of value to a productive asset.
The new initiative focuses on building federated bridges, a BitVM-powered Bridge, and ultimately, a trustless bridge to ensure seamless Bitcoin integration.
The project targets key limitations impacting Bitcoin, including high transaction fees and slow block confirmation times, by reducing fees from approximately $2 to $0.002 and decreasing confirmation times from 10 minutes to 2 seconds.
Starknet also aims to increase transaction throughput from seven transactions per second to thousands and improve user experience with a web2-like interface featuring enhanced wallet functionalities such as 2FA/3FA and session keys. Furthermore, StarkWare, the core contributor, is accumulating strategic reserves of Bitcoin and Ethereum, positioning the network to evolve as a hub for reputable digital asset management and yield generation.
This development is expected to broaden the utility of Bitcoin within decentralized finance while supporting a transition toward full network decentralization by early 2026. The move reinforces the trend of creating unified blockchain ecosystems that offer faster, more efficient financial services.
How EIP-7702 Will Impact DApp Developers?
Derek Chiang from ZeroDev has published an article on how EIP-7702 will influence both open and closed decentralized applications, outlining its practical benefits and challenges for developers, with a key emphasis on smart wallet capabilities.
The article explains that EIP-7702, scheduled to go live with Ethereum’s upcoming Pectra upgrade in April 2025, enables an externally owned account (EOA) to upgrade itself into a smart account while retaining its identity, merging the benefits of smart contracts with those of EOAs.
Derek discusses two types of DApps: open DApps, where users supply their own wallets, and closed DApps, which operate through embedded wallets.
In open DApps, developers are advised to detect smart wallets by utilizing the standardized RPC wallet_getCapabilities call defined in ERC-5792, allowing the determination of supported capabilities like gas sponsorship and transaction batching.
For closed DApps, the decision revolves around deploying either a regular smart account or an EIP-7702 smart EOA, each with its own set of advantages, such as interoperability with EOA wallets or enhanced key management features.
The broader impact of integrating EIP-7702 is significant as it promises improved user experiences, simplified DApp development through advanced tooling — such as ZeroDev’s SDK — and enhanced flexibility across different blockchain networks. This update is set to streamline the incorporation of smart wallet functionalities, offering a robust, future-proof solution for developers.
Biconomy’s Universal Blockchain Interface
Biconomy has announced the launch of its Network protocol, an advanced application layer designed to simplify blockchain interactions across multiple chains.
This new protocol, now in its beta phase, aims to unify the fragmented blockchain ecosystem by providing a single access point for developers, regardless of whether they are building on one or many chains. Developed over ten months, the Network bypasses the need for smart contract development by enabling operations across chains with a single user signature and customizable execution flows. In other words, Biconomy Network allows orchestrating operations on any chain without writing a single smart contract.
At the heart of the protocol is the innovative “Supertransaction” model. This model allows developers to write transactions in JavaScript or TypeScript and dynamically compose operations across multiple blockchain environments. It also introduces collaborative execution where specialized nodes work together to process complex transaction sequences seamlessly, without the need for users to manage multiple authentication flows or gas fee tokens.
Additionally, the Biconomy solution offers the capability to pay gas fees using any token and simplifies cross-chain activities without exposing the underlying bridging process to end-users.
The newly introduced protocol also emphasizes vendor neutrality, allowing developers to integrate various cross-chain services without being locked into a single provider. This approach is expected to accelerate development cycles, lower operational risks, and facilitate rapid iteration of blockchain applications.
Reddio Integrates AI into Parallel EVM Ecosystem
Reddio, an L2 blockchain platform by Reddit, has released a white paper detailing the integration of automated AI execution within the Ethereum Virtual Machine (EVM) ecosystem.
Its innovative Layer 2 architecture is designed to overcome the scalability and performance challenges facing the Ethereum blockchain. The new system combines parallel processing and optimized state management to enhance computational efficiency, particularly benefiting sectors such as DeFi, AI, and gaming.
Reddio utilizes a CUDA-compatible Parallel Execution Virtual Machine (EVM) that allows for simultaneous transaction processing, achieving over 10,000 transactions per second. This advancement minimizes latency and enhances throughput, making it ideally suited for high-demand applications.
Alongside this, Reddio introduces a Decentralized Modular Sequencer SDK, providing developers with flexible tools to customize and optimize their blockchain solutions. The architecture integrates a Peer-to-Peer (P2P) GPU network, pooling computational resources globally, thereby empowering developers to perform intensive computations directly on-chain.
The introduction of Reddio’s system marks a significant step toward broader blockchain adoption by enhancing user accessibility and operational efficiency. By enabling seamless integration with Ethereum while maintaining high decentralization and security standards, Reddio aspires to set a new benchmark in the blockchain industry.
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