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CRYPTO NEWS DESK — 2023-12-14

Ava Labs Unveils Seed Abstraction Feature in Core App

Ava Labs' said that users of its Core app will be able to create a wallet and multi-chain seed phrase with their Gmail.

Ava Labs Unveils Seed Abstraction Feature in Core App

Ava Labs' Core app has announced going seedless to boost Web3 adoption without compromising self-custody and security. The team behind Avalanche blockchain said that it has enabled users to generate and manage keys through simple Web2 methods like Gmail and Apple logins, making it more accessible. The key feature is Core's Seed Abstraction, which is universal and not restricted to specific blockchains or VMs. As such, users will be able to use Core-generated seed across various blockchains, from Bitcoin to EVMs, eliminating complexities of multiple contracts or cross-chain issues.

Ava Labs Introduces Core's Seed Abstraction

According to the official announcement shared with CryptoPotato, Core's Seed Abstraction stands out due to its seamless cross-chain functionality, distinguishing itself from alternatives like ERC-4337 (account abstraction). Unlike ERC-4337, which confines wallet users to EVM chains and imposes restrictions based on contract deployment locations, Core surpasses these limitations. It allows users to transact across diverse environments, including Bitcoin, Avalanche C, X, and P-Chains, and any EVM, offering enhanced cross-chain capabilities. Ava Labs said that Core's Seed Abstraction was designed to alleviate a significant issue related to seed phrases. The end goal is to enhance the wallet experience to be more intuitive and align with how most individuals typically navigate the internet. The company emphasized that this aspect of improving UX is crucial for broader Web3 adoption. In a statement, Akash Gupta, Head of Consumer Products at Ava Labs, said, 'Core unifies the key tenants of Web3 by enabling simple, frictionless, and seedless onboarding while preserving self-custody and high security. Core's users are free to choose their favorite form(s) of sign-up, login, and recovery without any trepidation or anxiety.'

Avalanche: 2023

The latest development comes six months after Ava Labs launched AvaGPT amid a surge in the adoption of OpenAI's ChatGPT technology by various blockchain companies. Besides the introduction of an AI chatbot, Avalanche ecosystem has teamed up with several entities this year. Alibaba Cloud, the digital technology and intelligence division of Alibaba Group, partnered with Avalanche in May to offer the former's clients a launchpad, dubbed Cloudverse. The objective is to enable businesses to customize, launch, and maintain their own metaverse spaces on the Avalanche blockchain. In November, investment firm Republic roped in the Layer 1 network to launch its profit-sharing digital asset, the Republic Note. This collaboration was unveiled a little over a week after Ava Labs laid off 12% of its workforce, citing an incessant bear market. Traditional heavyweights such as Citi and JPMorgan have also tapped Avalanche Foundation for their real-world asset (RWA) tokenization initiatives. This development has heightened investor confidence, leading to an 80% weekly increase in AVAX's price despite a slump in the broader market. The post Ava Labs Unveils Seed Abstraction Feature in Core App appeared first on CryptoPotato.

— Chayanika Deka of CryptoPotato - Crypto Blog

Keywords: AA News, Crypto News, Avalanche (AVAX) Price

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