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News

Safe Unveils Safe{Core}: A Quantum Leap Towards Interoperable Smart Accounts

August 15, 2023 - Around 2 mins mins to read

Key Points:

  • Wallet provider Safe introduces the innovative Safe{Core} protocol, designed to revolutionize the transition to secure and modular smart accounts.
  • The whitepaper defines a modular approach, overcoming fragmentation and vendor lock-in.
  • The provider wallet emphasizes collaboration, empowering users through account abstraction evolution.
Safe, a leading wallet service provider previously known as Gnosis Safe, has unveiled a groundbreaking advancement in the realm of smart accounts with the introduction of the Safe{Core} protocol.
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This protocol ushers in a secure, modular, and interoperable approach to facilitate the transition to smart accounts.

At the core of the Safe{Core} protocol lies its innovative design, featuring an open-source modular standard enhanced by an additional abstraction layer known as the “manager.”

This managerial layer adeptly handles the intricacies and interdependencies inherent in the system.

To address the complexities associated with the transition to smart accounts holistically, it has released a comprehensive whitepaper outlining the initial blueprint of the Safe{Core} protocol.

The whitepaper offers a unified standard, aiming to resolve challenges like fragmentation, vendor lock-in, and security concerns.

One of the central issues tackled by the protocol is fragmentation. By standardizing modules such as Plugins, Hooks, Function Handlers, and Signature Validators, the wallet provider ensures seamless composability for decentralized applications (dApps) and associated tools.

Moreover, the protocol places a strong emphasis on vendor neutrality, fostering interoperability and account portability. This approach champions user freedom of choice and enables service providers to operate without constraints.

A pivotal component of the protocol is its focus on security. This is achieved through the introduction of Registries, which effectively mitigate risks associated with smart contracts, bolstering the security framework of the protocol.

DISCLAIMER: The information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

dApps.

Function Handlers

Gnosis Safe

hooks

Plugins

safe

Safe{Core}

Signature Validators

Smart Account

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Author

Harold

With a passion for untangling the complexities of the financial world, I've spent over four years in financial journalism, covering everything from traditional equities to the cutting edge of venture capital. "The financial markets are a fascinating puzzle," I often say, "and I love helping people make sense of them." That's what drives me to bring clear and insightful financial journalism to the readers of Coincu.