Ethereum dApps will change how we think about private keys in cryptocurrency by decoupling
Ownership and identity
Submitting and managing transactionshttps://twitter.com/backus/status/981604194179194880 …
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2. Smart contracts will be designed around users being part of a permissioned user account contract. User has one account id which they can add and remove Ethereum addresses from. We're also building this into
@Bloom!Show this thread -
3. Once a new user is interacting more seriously with the dApp, they have to improve their private key management proportionally
Doing something sensitive like verifying identity? Download mobile dApp
Need to actually hold ETH or tokens? Ok *now* you need a hardware walletShow this thread -
4. Once multiple keys are associated with one account, the different addresses should have different permissions.
Only most secure key (hardware wallet) should be solely able to remove addresses, hold tokens.
More convenient keys should be able to sign transactionsShow this thread -
5. Users should be able to specify how much they care about solely owning their accounts. Everyone should be able to submit transactions on their own if they want. Some users might want to give dApp operators more permissions if they ever need to recover their account.
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Lets business pay for gas, deal with nonces, retry TXs, etc.
Reframing quoted tweet to emphasize the long-run crypto implications for people who aren't smart contract developers.
This will be a major win for user experience and on boarding in crypto! Sharing a few thoughts in this thread on what this might mean in the next ~year