Read this article to see how modular account abstraction can be explained like a RPG character in a video game!
If you grew up playing video games or still play video games, you’ve probably played a role-playing video game (RPG) before. It could be an MMORPG (massively multiplayer online role playing game) like World of Warcraft, RuneScape, and MapleStory or an offline fantasy RPG like the classic Final Fantasy series.
If you haven’t played a RPG before, here’s a quick brief on what it’s like: you choose a character to represent yourself in a virtual world and use the character to explore, battle monsters, gain equipment or items, level up, and most importantly–have fun immersing yourself in a vast unexplored world full of wonders and mysteries.
Hold on a second, you may be thinking, how is a RPG character related to ERC-6900, the Ethereum standard for modular account abstraction? Let’s explain modular account abstraction like a RPG character.
ELI5: Modular account abstraction in the context of a RPG game
Imagine you’re playing a cool RPG game, like a fantasy adventure. In this game, your character (see Blocto Bub below) has abilities, like swinging a sword or casting a spell.
Now, think of Blocto Bub as a “Smart Contract Wallet.” But what if you could equip additional special items or skills to make your character even more awesome? That’s where ERC-6900 comes in!
It’s like finding magical items or learning new skills in the RPG game. These items and skills are the “Modules” that you can add to your character and enhance its abilities. Each module gives your character new powers or abilities. So, just like your RPG character becomes stronger and more versatile with each item and skill, your Smart Contract Wallet becomes more powerful and customizable with each module you add to it!
For example, let’s say you find a magical cape in the RPG game. This cape grants your character the ability to cast spells and charms. Similarly, in the context of ERC-6900, you can add a module to your Smart Contract Wallet that allows it to perform specific actions, like enabling social recovery or recurring transactions via session keys.
As you progress in the RPG game, you gather more items and skills to make your character stronger and better suited for different challenges. In the same way, you can keep adding modules to your Smart Contract Wallet, tailoring it to various tasks and functionalities.
This flexibility is what ERC-6900 and modular account abstraction bring to the world of Smart Contract Wallets in the EVM ecosystem, making them more adaptable and capable of handling a wide range of tasks as you discover new modules on dApps, just like your RPG character becomes more versatile as you equip them with different tools.
As you journey through the RPG game, you’ll notice that certain challenges require specific tools or skills. For instance, if you encounter a locked chest, you’ll need lock-picking skills or a special key. Similarly, ERC-6900 allows Smart Contract Wallets to be equipped with the right tools for the job. If you’re dealing with a specific type of transaction or require additional security measures, you can simply add the corresponding module. This way, your Smart Contract Wallet evolves with you, adapting to various scenarios and ensuring you’re always prepared for whatever the blockchain adventure throws your way.
If you’re a Web3 gamer, see below for real-world benefits of modules!
Real world use cases of modular account abstraction for Web3 gamers
ERC-6900 and modular account abstraction opens up exciting possibilities for Web3 gamers. Here are some novel use cases that you may come across as you explore modules on dApps:
Cross-platform gaming assets
Web3 gamers can integrate modules that manage their in-game assets across different platforms. For example, a module could enable seamless lending or renting of tokenized items, creating a unified ecosystem for gaming economies.
Game asset leasing
Web3 gamers can leverage modules to lease out their virtual assets when not in use. This enables users to retain custody of their NFT, while reducing requirements for over-collateralization of their asset. Furthermore, this creates a new revenue stream and fosters a sharing economy within the gaming community.
NFT marketplace integration
For Web3 gamers involved in NFTs, modules can facilitate smoother transactions. These modules could handle tasks like bidding, escrow services, or even complex NFT swaps. For example, a session key module can automate tasks like bidding on a NFT on platforms like OpenSea by sending out the transaction on my behalf to outbid other parties.
Gas fee optimization
Users can integrate modules that optimize gas fees for specific types of transactions. For example, low gas fees could slow down transactions, whereas high gas fees could speed up transactions. This can be particularly valuable during periods of network congestion.
Loyalty rewards programs
Web3 gamers can implement modules for loyalty programs. These modules can distribute rewards based on predefined criteria, creating incentives for specific behaviors within a platform. For example, let’s say a loyalty rewards program has a list of recipients based on tiers who need to receive their rewards. Using a module, the criteria (tiers, scheduled time to receive reward, etc.) could be specified and determined, then the recipients could receive their rewards based on those criteria.
Modules can be employed to manage subscription-based services within the DeFi or gaming ecosystem. Users can automate payments and access services seamlessly.
In conclusion, just like in a RPG where your character’s strength lies in their versatile skill set, ERC-6900 empowers Smart Contract Wallets to be dynamic and adaptable. It allows developers to customize their wallets with modules that suit their specific needs, enhancing their functionality and efficiency in the Ethereum ecosystem. So, whether you’re slaying dragons in a virtual realm or managing complex transactions on the blockchain, ERC-6900 ensures you’re equipped for success in every quest. Get ready to level up your Smart Contract Wallet game with the power of modularity!
For a deeper dive into ERC-6900 and the impact of modular account abstraction on Smart Contract Wallets, you have to read this article!