| > Motherfucker, the entire crypto industry is in the middle of a collapse. It lasted less than a decade at scale and that’s just the 10% that weren’t an out and out scam (I lean toward that number being closer to 0%, but I’ll throw you a bone since you sound like you’re caught up in it). 1) Stick to overcollateralized stablecoins (MAI, DAI, FRAX, sUSD, sEUR, etc.) & Layer 2s (Arbitrum, Optimism, zkSync). If you're okay with the centralization risks, then USDC & fiat-backed stablecoins can enter into the picture. 2) Account abstraction's an important step in providing the necessary security & recovery features to make it easier to use & secure. One of the parts required was ERC-4337, which has been in the works for some time and was recently publicly announced. https://github.com/ethereum/EIPs/blob/master/EIPS/eip-4337.m... Before the contrarians come in for the quick gotcha and say that it bring in centralization: That's been made painfully aware multiple times over. However, Vitalik's 2021 post on social recovery wallets puts it best: https://vitalik.ca/general/2021/01/11/recovery.html > One common response to suggestions to use any form of multisig, social recovery or otherwise, is the idea that this solution goes back to "trusting people", and so is a betrayal of the values of the blockchain and cryptocurrency industry. While I understand why one may think this at first glance, I would argue that this criticism stems from a fundamental misunderstanding of what crypto should be about. > To me, the goal of crypto was never to remove the need for all trust. *Rather, the goal of crypto is to give people access to cryptographic and economic building blocks that give people more choice in whom to trust, and furthermore allow people to build more constrained forms of trust*: giving someone the power to do some things on your behalf without giving them the power to do everything. Viewed in this way, *multisig and social recovery are a perfect expression of this principle*: each participant has some influence over the ability to accept or reject transactions, but no one can move funds unilaterally. This more complex logic allows for a setup far more secure than what would be possible if there had to be one person or key that unilaterally controlled the funds. |