🌎 On-chain Crypto ETFs backed by smart contracts, not asset managers. Join our private beta on our website
The creation of Ethereum and the smart contract has led to an incredible shift in the way we approach building things and growing communities. Being the first truly programmable blockchain, Ethereum grew with rapid success as visionaries, builders, investors, artists, and enthusiasts alike sought to build a new more decentralized and trustworthy world for the internet: Web3.
Along with Ethereum’s rise to fame came a handful of side effects Vitalik, the Ethereum team, and thousands developers around the world have been seeking to remedy. Most notable of these is scalability - which includes both transactions per second and transaction cost (gas).
Many projects, known as Layer 2s, such as Polygon, Avalanche, Optimism, and others have done an amazing job of solving this issue of scalability. Practically all of these projects boast solutions to this problem including blazingly fast transaction speeds and incredibly cheap transaction costs. However, these solutions also come with their downfalls - primarily an inequality in the accessibility of dApps and use cases due to increasingly difficult development requirements across chains and the risky, costly process of bridging and/or obtaining each chains native token.
Another exciting development seeking to address Ethereum’s scalability issue is account abstraction (ERC-4337). Put simply, account abstraction allows smart contracts to act as crypto wallets - unlocking an endless possibility of features, functionality, and integrations. These “smart wallets” offer the key to unlocking the next billion users for crypto and Web3, and here at Normal, we’ve developed one of the first truly impactful use cases for smart wallets and a solution for Ethereum scalability.
Bundling Ethereum transactions is not a new idea. Many tools exist for bundling multiple transactions from the same wallet so that a single transaction and its gas are paid instead of multiple. However, nothing has ever attempted to bundle transactions across many different wallets to achieve this same cost savings at scale.
The creation of Ethereum and the smart contract has led to an incredible shift in the way we approach building things and growing communities. Being the first truly programmable blockchain, Ethereum grew with rapid success as visionaries, builders, investors, artists, and enthusiasts alike sought to build a new more decentralized and trustworthy world for the internet: Web3.
Along with Ethereum’s rise to fame came a handful of side effects Vitalik, the Ethereum team, and thousands developers around the world have been seeking to remedy. Most notable of these is scalability - which includes both transactions per second and transaction cost (gas).
Many projects, known as Layer 2s, such as Polygon, Avalanche, Optimism, and others have done an amazing job of solving this issue of scalability. Practically all of these projects boast solutions to this problem including blazingly fast transaction speeds and incredibly cheap transaction costs. However, these solutions also come with their downfalls - primarily an inequality in the accessibility of dApps and use cases due to increasingly difficult development requirements across chains and the risky, costly process of bridging and/or obtaining each chains native token.
Another exciting development seeking to address Ethereum’s scalability issue is account abstraction (ERC-4337). Put simply, account abstraction allows smart contracts to act as crypto wallets - unlocking an endless possibility of features, functionality, and integrations. These “smart wallets” offer the key to unlocking the next billion users for crypto and Web3, and here at Normal, we’ve developed one of the first truly impactful use cases for smart wallets and a solution for Ethereum scalability.
Bundling Ethereum transactions is not a new idea. Many tools exist for bundling multiple transactions from the same wallet so that a single transaction and its gas are paid instead of multiple. However, nothing has ever attempted to bundle transactions across many different wallets to achieve this same cost savings at scale.
Share Dialog
Share Dialog
🌎 On-chain Crypto ETFs backed by smart contracts, not asset managers. Join our private beta on our website
In fact, this has largely been impossible due to the way current crypto wallets (EOAs) work. For a transaction to take place, a wallet owner must sign and submit the transaction manually. This is one of the primary security features protecting wallets from theft and manipulation, but also a blocker to functionality like bundling.
The introduction of smart wallets and their inherent programmability now unlocks what was once impossible. By collecting Ethereum transactions - both transfers and smart contract calls - that are created within a similar timeframe into batches and executing these transactions via a dispatcher smart contract, we can securely send each transaction back to it’s originating smart wallet to be executed while only paying a single gas expense.
This gas cost can then be divided and paid equally amongst the owners of the transactions within the batch. This creates the possibility for an infinitely small gas cost required to execute your transaction(s) instead of the volatile cost you’re presented with which can be anywhere from $1 to over $100, depending on network congestion.
We’ve created a brand new smart wallet encompassing this protocol known as the Normal Wallet. Normal operates in largely the same way existing wallets do, but with a few key improvements.
The most notable of these differences is the way in which you interact with dApps. In order to batch your transactions to achieve this incredible cost savings, you must connect your Normal wallet to dApps via WalletConnect. Simply copy the WalletConnect link from your dApp of choice and paste it into your Normal wallet and you’re good to go!
Another key difference is the ability to pay gas using both ERC-20 tokens like ETH and USDC along with credit and debit cards. These improvements mean you can spend less time buying, waiting, and transferring ETH from centralized exchanges with crazy fees and more time executing trades, buying NFTs, and swapping to your heart’s content!
We’ve also designed the Normal Wallet in modular fashion enabling additional functionality to be added or removed as you please. We’re striving to create the very first marketplace for wallet extensions that can be used to fully customize your crypto experience. This will allow you to access special features from your favorite dApps who choose to create extensions!
We’re beyond exciting and deeply honored to be building something new and never seen before. We’re a small team of crypto nerds and lovers just like you, and cannot wait to enjoy the benefits of Normal in our personal crypto endeavors.
If you’ve made it this far, you’re a real one and exactly the person we’re building this for! Please reserve early access to the Normal Wallet on our website and share what we’re building with your friends and crypto connections as the more folks who use Normal means the cheaper your transactions become!
If you feel that our mission resonates with you and you want to support it, reach out on Twitter, or join our Discord.
With love,
Team Normal
In fact, this has largely been impossible due to the way current crypto wallets (EOAs) work. For a transaction to take place, a wallet owner must sign and submit the transaction manually. This is one of the primary security features protecting wallets from theft and manipulation, but also a blocker to functionality like bundling.
The introduction of smart wallets and their inherent programmability now unlocks what was once impossible. By collecting Ethereum transactions - both transfers and smart contract calls - that are created within a similar timeframe into batches and executing these transactions via a dispatcher smart contract, we can securely send each transaction back to it’s originating smart wallet to be executed while only paying a single gas expense.
This gas cost can then be divided and paid equally amongst the owners of the transactions within the batch. This creates the possibility for an infinitely small gas cost required to execute your transaction(s) instead of the volatile cost you’re presented with which can be anywhere from $1 to over $100, depending on network congestion.
We’ve created a brand new smart wallet encompassing this protocol known as the Normal Wallet. Normal operates in largely the same way existing wallets do, but with a few key improvements.
The most notable of these differences is the way in which you interact with dApps. In order to batch your transactions to achieve this incredible cost savings, you must connect your Normal wallet to dApps via WalletConnect. Simply copy the WalletConnect link from your dApp of choice and paste it into your Normal wallet and you’re good to go!
Another key difference is the ability to pay gas using both ERC-20 tokens like ETH and USDC along with credit and debit cards. These improvements mean you can spend less time buying, waiting, and transferring ETH from centralized exchanges with crazy fees and more time executing trades, buying NFTs, and swapping to your heart’s content!
We’ve also designed the Normal Wallet in modular fashion enabling additional functionality to be added or removed as you please. We’re striving to create the very first marketplace for wallet extensions that can be used to fully customize your crypto experience. This will allow you to access special features from your favorite dApps who choose to create extensions!
We’re beyond exciting and deeply honored to be building something new and never seen before. We’re a small team of crypto nerds and lovers just like you, and cannot wait to enjoy the benefits of Normal in our personal crypto endeavors.
If you’ve made it this far, you’re a real one and exactly the person we’re building this for! Please reserve early access to the Normal Wallet on our website and share what we’re building with your friends and crypto connections as the more folks who use Normal means the cheaper your transactions become!
If you feel that our mission resonates with you and you want to support it, reach out on Twitter, or join our Discord.
With love,
Team Normal
Subscribe to Normal
Subscribe to Normal
<100 subscribers
<100 subscribers
No activity yet