The recent introduction of RC-4337 (account abstraction) marks a new era for Web3 games. Specifically, session keys offer a solution to one of the most cumbersome features of blockchain-based games – constant confirmations.
But what is account abstraction, and how does it remove many of the UX barriers of wallets, making it a crucial element of Web3’s path to mass adoption?
In simple terms, account abstraction enables the separation of user account balances from smart contracts. This allows developers to deploy and update smart contracts without requiring users to interact with the contract directly. As a result, users can interact with smart contracts through a higher-level abstraction layer, providing a more user-friendly experience.
In addition to account abstraction, session keys are a feature of wallet abstraction that enables users to pre-define their wallet permissions with a particular application. This means repetitive actions, like signing the same transaction every time you play a game, no longer need to exist. This is particularly important for Web3 games, where a seamless user experience is a prerequisite for adoption.
For Web3 gaming, a smooth UX is even more critical than in any other application type. Seamless UX in a DeFi application is a competitive differentiator, but for games, it is a prerequisite. With account abstraction and session keys, Web3 games can begin creating experiences that can rival or improve upon Web2 gaming experiences.
While account abstraction and session keys are significant advancements in improving Web3 gaming, some challenges still need to be addressed. These include scalability issues, security concerns, and interoperability between different blockchains.
Chainlink price analysis: LINK faces resistance near $8.0
Chainlink price analysis reveals LINK cryptocurrency price is hovering around $6.91 to $7.30. The buyers have been attempting to push the price above $8.00.Chainlink is trading at $7.22.up by 4.22% over the past 24 hours.
The cryptocurrency has a market capitalization of $3,743,139,386 and is ranked #21 on CoinMarketCap’s list with a 0.32% market dominance in the crypto space. Over the past seven days, LINK’s price has been trading as low as $6.25 and as high as $7.69, with an average volume of $383,958,307.
Chainlink has seen an increase of 18.3% over the past seven days. LINK price appears to be facing resistance near $8.00; however, it is likely that if buyers continue to maintain their current buying pressure, the cryptocurrency could experience a bullish breakout.
It’s worth noting that LINK is in an uptrend and has been for some time now, as the technical indicators on the daily,4-hour, and hourly timeframe show a bullish continuation.
The Relative Strength Index (RSI) for LINK is currently sitting at 66.5, which suggests that the cryptocurrency could be reaching overbought levels. Furthermore, the MACD indicator shows increasing bullish momentum.
Chainlink is at an important junction, and with the introduction of account abstraction and session keys, Web3 gaming could soon become more accessible to a wider audience. If developers can use these features to create user experiences that are better than their Web2 counterparts, we may see an increase in the mass adoption of blockchain-based games.
