Skip to main content

Account Abstraction on Fuse

Introduction​

The introduction of Account Abstraction as a standard in the Ethereum Ecosystem is a welcome development that ensures the ability to onboard the next billion users to Web3. This standard has also been extended into Fuse blockchain. Fuse is EVM compatible and this typically means that features available on Ethereum are available on the Fuse blockchain.

The difference is that the Fuse ecosystem provides a higher Transactions Output Per Second (TPS) and thus a faster Block Time for validating transactions. With the introduction of Account Abstraction into Fuse, DApp developers can now build without having to worry about onboarding traditional web2 users, who might have to come to use their applications and find a steep learning curve as is commonly associated with onboarding using wallets that are non-custodial and require users to recall their private keys and/or mnemonic seed phrases, given whichever scenario. So, to make it easier for developers to onboard users, Fuse has built the Fuse Connect Wallet.

The FuseBox powers Account Abstraction by default, enabling creating, managing, and engaging with Fuse Smart Wallets in client applications. Fuse Smart Wallets are Smart Contract Wallets which can be created with a user's Externally Owned Account (EOA), or Social Authentication methods, and provide added security compared to traditional EOAs. Fuse Smart Wallets are non-custodial and users can deposit and withdraw funds that no one else can control, at any time.

The FuseBox is designed to make it easy for developers to create, manage, and engage with Fuse Smart Wallets in their REST API, Flutter and TypeScript applications. FuseBox which is powered by the Open Source Fuse Backend provides pre-built functions and utilities, allowing developers to build Account Abstraction powered applications securely and efficiently.

Benefits of using Fuse Smart Wallets​

Using Fuse Smart Wallets provides several benefits, including:

  • Enhanced security: Fuse Smart Wallets are non-custodial accounts that allow users to deposit funds that no one else can control and withdraw at any time. Each Fuse Smart Wallet is a smart contract associated with the user's EOA and can only be controlled by that user.
  • Enhanced UX: Fuse Smart Wallets support gasless transactions, improving the user experience and making it more seamless to interact with the blockchain.
  • Better developer experience: The Fuse Wallet SDK abstracts away the complexities of web3 development, such as cryptography, wallet management, and smart contract interactions, making it easier for developers to build blockchain-based applications.

Features​

  • Create a Fuse Smart Wallet: Create a new Fuse Smart Wallet associated with a user's EOA and/or Social Auth.
  • Retrieve an existing Fuse Smart Wallet: Retrieve an existing Fuse Smart Wallet associated with a user's EOA if it exists.
  • Send transactions: Send transactions, including ERC20 and NFT transfers and interaction with arbitrary smart contracts, through the Fuse relayer that will cover the gas fees. This allows users to interact with the blockchain without worrying about gas fees.
  • Retrieve transactions history: Retrieve a user's transaction history for their Fuse Smart Wallet. This makes it easy to keep track of their activity on the blockchain.
  • Retrieve ERC20 and ERC721 token balances: Retrieve a user's ERC20 and ERC721 token balances for their Fuse Smart Wallet. This makes it easy to monitor their holdings on the blockchain.
  • Staking: Let Smart Wallet owners stake their native FUSE tokens directly in the app and earn rewards.
  • Trading: Let Smart Wallet owners swap various assets and get price data for several assets on the Fuse network.

Limitations​

FuseBox works only on the Fuse network, an EVM-compatible L1 blockchain. Support for other blockchains is planned for the future.

What are Smart Wallets?​

Smart Wallets are smart contract wallets that allow users to manage and interact with their assets in client applications seamlessly. The Fuse Wallet SDK provides a simple and secure way to create and manage Smart Wallets, which are non-custodial accounts that provide added security compared to externally owned accounts with a single private key.

Features of Smart Wallets​

The Fuse Smart Wallets created using the Fuse Wallet SDK come with various features that make them easy and convenient. These features include:

  • Non-custodial: Smart Wallets are non-custodial, which means that users always have complete control over their assets. No one else can control or access the funds in the wallet.
  • Personally signed message (EIP-191): Smart Wallets are created using personally signed messages, which follow the EIP-191 standard. This ensures that the wallet is unique to the user who created it and provided an added security layer.
  • Deposits and withdrawals: Users can deposit funds into their Smart Wallets and withdraw them whenever they choose.
  • ERC20 and ERC721 tokens: Smart Wallets support ERC20 and ERC721 tokens, meaning that users can easily manage and interact with their Ethereum-based assets.
  • Interaction with arbitrary smart contracts: Users can interact with any smart contract on the Fuse network using their Smart Wallets, making participating in decentralized applications and services easy.