- Account Abstraction on Ethereum dates all the way back to the year 2021.
- People and groups from everywhere around the globe are welcome to participate.
The Account Abstraction Grant 2023 is a new funding opportunity from the Ethereum Foundation that aims to speed up and improve the existing system. The Ethereum ecosystem support programme encourages builders and coders by providing them with resources for ongoing initiatives that improve the Ethereum blockchain’s features and capabilities.
Under Account Abstraction 2023, the maximum grant per proposal is $50,000, and the total available funding is $300,000. The deadline for submissions from builders is March 1st, and processing began on the 27th of February. The ETH community views this as progress towards widespread use of Account Abstraction by ETH wallets.
Individuals and Groups Both May Participate
The Account Abstraction on Ethereum dates all the way back to the year 2021. Notable members of the Ethereum community finally made public their proposal for ERC 4337. This is “to enable account abstraction without compromising on decentralization and censorship-resistance” and is the primary purpose.
Those who are enthusiastic about collaboratively expanding the Account Abstraction ecosystem are welcome as per the foundation. Also, people and groups from everywhere around the globe are welcome to participate.
Moreover, profit businesses are eligible to apply, however, the grant’s required work must be non-commercial, open source, and freely available to the public.
The goal of this grants round is to encourage and kick start a number of new Account Abstraction-related initiatives, with the understanding that this may not be enough to maintain them over the long run. In addition, the regular grants programme is available to projects for extra financing if needed.