ETHEREUM ACCOUNT ABSTRACTION

In 2022, the total number of Ethereum owners grew by 280% compared to Bitcoin which only grew by 20%. The factors driving Ethereum ownership are really the demand to get access to layer 2 networks like Arbitruim and Optimism. We all see big demand for buying NFTs and also getting access to those sweet staking rewards but whatever the reason, the numbers speak for themselves and they are in 280% in a year and that happened during a bear market. You should know that the total number of crypto users grew from 305 million to 425 million in 2022.

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Ethereum is deflationary even in the bear market and right now over 5,000, Ethereum have been burned. 80% of new users that are coming into crypto are buying NFTs. It appears that NFT is one of the driving forces for crypto to mainstream adoption. About 75% of NFT trading volume is happening on Ethereum, even though Solana, Polygon and so other blockchains are trading some NFTs, it is not like Ethereum. That means that the majority of those new wallets are being made on Ethereum and you will need to buy NFTs to do that. Ethereum has maintained a strong developer lead over every other chain. It even has 2.5 times as many developers as the next closest chain which is Polkadot.

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Ethereum is going to bring out a game-changing development called Account Abstraction. This allows for safer crypto use by regular people by dealing with one of the biggest barriers that we see to adoption which is human error. The aim is to use smartcontract execution, meaning that you won't have to be signing off on every single transaction which of course implementation for gaming, paying bills, and macro transactions. The aim is to make the usage of Ethereum as easy as using your bank account and it also removes the danger of losing your private keys because this type of account will be controlled by code, not keys. This is how Ethereum and crypto go more broadly really go mainstream and it is coming later this year.