Safe developers unveil an alternative to private- and public-key–based systems

The Safe platform for managing digital assets Safe released a software development kit (SDK) designed to improve the experience of interacting with crypto wallets.

Today, we launch a supercharged account abstraction experience!

? Safe{Core} is here!
? With @stripe ? @gelatonetwork ? @Web3Auth
? New Website: https://t.co/332rDtKGiT
? Read more: https://t.co/iAFxeQ17oQ

? ⬇️ pic.twitter.com/wzY3pQYo1S

— Safe (prev. Gnosis Safe) | takebackownership.eth (@safe) March 1, 2023

Development, called Safe Core, enables use of the account abstraction as an alternative to traditional crypto wallets with private and public keys.

Account abstraction is a method of configuring a blockchain network in which users’ assets are stored exclusively in smart contracts, rather than in external accounts (EOAs). With this approach, a crypto wallet becomes a programmable smart contract that can be tailored for different purposes.

The tool was developed in partnership with payments giant Stripe, as well as providers of Web3-infrastructure Gelato and Web3Auth. The SDK is already available for use in more than 12 networks.

“Account abstraction is the key to attracting millions of new users. It is designed to make using Web3 as easy as Web 2.0,” said Safe co-founder Richard Meissner.

The spokesperson also noted that last year’s events in the industry underscored the relevance of trust risks in third-party custody of assets.

Earlier in September last year, Safe conducted an airdrop of the native SAFE token. The distribution was timed to the network’s transition to a decentralized governance model.