Smart contract wallet provider UniPass and hardware wallet developer Keystone have merged to form Account Labs, a company focused on pioneering a Web3 Account Abstraction solution. The goal of the merger is to democratize access to Web3 products and drive widespread adoption of blockchain technology.
Account Labs will leverage the expertise of UniPass and Keystone in cryptography research, software engineering, product design, and security protection to develop next-generation Web3 Account Abstraction solutions.
Account Abstraction, a concept introduced by Ethereum founder Vitalik Buterin in 2015, aims to address usability and security challenges of decentralized accounts.
Account Labs will operate at the intersection of usability and security, combining UniPass’s decentralized account management expertise with Keystone’s hardware wallet services. The merger will generate new opportunities for hardware wallet development and provide crucial security assurance.
Existing users of Keystone and UniPass will not be affected by the merger, as both brands and their user bases will be preserved.
Liu Lixin, founder of Keystone, will lead external operations such as business development and growth strategy, while Zhi Xian, founder of UniPass, will oversee internal operations including product research and development.
Lixin and Xian are excited about the establishment of Account Labs and its potential to revolutionize Web3 Account Abstraction. They aim to ensure everyone can securely manage a decentralized account and invite partners to join them in advancing the Web3 account domain.
UniPass and Keystone bring a wealth of expertise in account abstraction and security, respectively, to Account Labs. UniPass utilizes cryptographic technologies like zero-knowledge proofs and DKIM protocols to create a comprehensive decentralized account ecosystem, while Keystone has contributed to security standards and enhanced user interaction through collaborations with notable brands.
Account Labs plans to release the third-generation Keystone hardware wallet and upgrade the UniPass product architecture to accelerate Account Abstraction capabilities. They envision delegating higher signature permissions to hardware wallets in the future, prioritizing ease-of-use without compromising security.
The merger has received support from original investors of Keystone and UniPass, signaling confidence in Account Labs’ ability to safeguard Web3 account security and promote widespread adoption of account abstraction.