On Chain Accounts are digital records of ownership and balances that reside directly on a blockchain’s distributed ledger. These accounts are typically controlled by cryptographic keys, allowing users to send, receive, and interact with digital assets and smart contracts without intermediaries. Each transaction involving an on-chain account is transparently recorded and verifiable by all network participants.
Context
On Chain Accounts form the foundation of decentralized finance and the broader digital asset ecosystem, enabling direct peer-to-peer value transfer and programmable interactions. Their transparency and immutability provide a high degree of auditability and security. The development of account abstraction aims to enhance the user experience and flexibility of these accounts, allowing for more complex and customizable access controls.
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