Users can enjoy the full benefits of many aspects of web3 without being exposed to the complexities that make it work. In computer science, the process of abstraction hides details about a system or application that do not affect their functioning, so that a user with less knowledge is able to take full advantage of them. In web3 in particular, many aspects with the management of one’s account can be involved; this leads to higher barriers of entry and more likely user errors.
In this vein, developers have implemented wallets that abstract away direct interactions with the blockchain. MetaMask is a famous example. Notably, MetaMask makes the use of Ethereum wallets easier without the need to carry around a private key.
Builders on our no-code web3 framework have frequently demanded wallet-less onboarding, credit card payment, and gas-less experience. Indeed, web3 differs in cryptocurrency in that many of the intended end users are not and need not be crypto-literate or indeed conscious that a blockchain is the backbone of the app that they are using. By providing a full suite of account abstraction options, builders on our framework can access a much broader set of user base; many corporate builders are already benefiting in this way.
How account abstraction is implemented matters, too. Developers more familiar with web 2.0 may be tempted to carry out wallet-less onboarding, credit card payment, and gas-less experience, etc. off-chain. That, however, introduces a layer of vulnerability that we believe should be avoided: instead, we have developed a fully on-chain solution that also optimizes performance and running cost.
We have introduced FT Wallet, a full-featured wallet, that is integrated to the FeverTokens no-code framework. This allows builders on our platform to onboard users who do not own a wallet or prefer not to use their usual wallet. Combined with gas-less experience, even users completely unaware of the existence of blockchain or web3 can take full advantage of their benefits.
Naturally, builders can still whitelist users using other means of identification, such as email, to ensure the security and privacy of the web3 app. FT Wallet can also be used outside the FeverTokens’ framework, and the end users can transfer their funds and assets to any valid wallet at any time.
Often, the web3 app involves selling tokens. While the users can be onboarded without a wallet, they would still need to get the native tokens of the blockchain to purchase these tokens unless credit card payment is made available. FeverTokens has developed a simple process that allows this to happen on-chain and enables builders to connect their PSP.
Another piece of the puzzle is gas-less experience. Gas-less is essential if a builder wants to enable credit card payment: since the transactions on-chain are not free, it is up to the builder to shoulder this cost of transaction, just like how grocery stores bear the cost of credit card payment. At the same time, many corporations are implementing loyalty programs that involve tokens that are free to claim. To make it work, wallet-less onboarding and gas-less are combined to provide a smooth end user experience.
Today, FeverTokens is one the only web3 frameworks, no-code or otherwise, that offers on-chain web3 account abstraction. It is also the only one that offers web3 account abstraction to such complete degree. This is the main reason why many developers and corporate users have come to adopt FeverTokens’ no-code framework.
Needless to say, we will continue tointroduce further aspects of web3 account abstraction, fully on-chain, as the demand arises.