📄️ 1. What is Account Abstraction (AA) wallet
Account Abstraction (AA) is a groundbreaking technology that enables users to use programmable wallets as on-chain accounts, eliminating the need for private key or seed phrase management while unlocking versatile functionalities.
📄️ 2. What is Portkey's approach to realise Account Abstraction (AA)
📄️ 3. How is Portkey different from ERC-4337 wallets?
When implementing Account Abstraction (AA), different blockchain networks may employ varying methods. Ethereum utilises the ERC-4337 standard, while aelf invents the Virtual Address (VA) approach. The key distinctions between ERC-4337 on Ethereum and Virtual Address on aelf and in Portkey can be categorised into four main aspects: account creation, fee, transaction handling, and security.
📄️ 4. What can I use Portkey for?
Currently, Portkey offers support for various Web3 features, including account creation, crypto-fiat on/off-ramps, digital asset management, DApp interactions, instant chats, and more, as outlined below:
📄️ 5. What are the main advantages of Portkey?
As a cutting-edge AA wallet that seamlessly facilitates the transition from Web2 to Web3, Portkey offers a competitive edge in the following areas:
📄️ 6. How much does Portkey charge?
Creating an account in Portkey is totally free of charge as the fee is covered by Portkey. This is achieved via Portkey's unique payment delegation mechanism which enables interested parties to function as delegatees to pay for user activities on users' behalf. Besides fees associated with account creation, some other fees are also covered in Portkey, such as logging in and adding guardians.
📄️ 7. How does Portkey's payment delegation mechanism work?
Portkey employs a unique payment delegation mechanism to ease users' burden and cover the costs associated with AA wallets creation and usage for them. This mechanism enables third parties to serve as delegatees, paying transaction fees on behalf of users and facilitating their cost-free entry into the world of Web3.
📄️ 8. Why do some of my transaction records show the transaction fee is zero?
Your transaction records in Portkey can be accessed via the "Activity" section on the home screen. Some transactions may display a transaction fee of zero, which can be attributed to two reasons:
📄️ 9. What networks does Portkey support?
Portkey currently runs on the aelf blockchain and plans to achieve interoperability with chains such as Ethereum, BSC, and more in the future.
📄️ 10. What assets can I manage in Portkey?
You can manage assets on the aelf blockchain, including the ELF token, numerous NFTs, and various resource tokens on both the MainChain and SideChains.
📄️ 11. Can I send assets in Portkey to exchanges, and vice versa?
Transactions between Portkey accounts and exchanges are possible, as long as the exchange has integrated with the aelf blockchain and can monitor VA-based wallet transactions.
📄️ 12. What are the DApps/projects I can use in Portkey?
Portkey offers users access to the aelf explorer, a key entry point for various activities on the aelf network. Portkey App users can seamlessly connect their accounts to the explorer via the "Discover" section, participating in governance voting, resource token trading, and smart contract deployment/updates. Portkey extension users can access the aelf explorer via the website.
📄️ 13. What is social recovery?
Social recovery in Portkey allows users to regain access to their accounts by obtaining approvals from their designated guardians. This process consists of two parts:
📄️ 14. What are guardians and verifiers?
Portkey's social recovery mechanism relies on two essential roles: guardians and verifiers.
📄️ 15. What is a login account?
A login account is a special guardian linked to your Portkey account. Just like regular guardians, a login account is responsible for safeguarding your account and assets. However, it is distinct in that it represents your identity. To log in to Portkey, you must provide the correct login account to indicate which account you are accessing.
📄️ 16. Do I need to go through social recovery every time I open my Portkey App/extension?
Short answer: no, unless you have manually logged out on that device.
📄️ 17. Does Portkey have a private key?
No. Your Portkey account is a virtual address controlled by manager addresses, not private keys. Manager addresses function as Externally Owned Accounts (EOAs) but are locally stored on the user's login device, eliminating the need for manual management.
📄️ 18. Where can I access direct support?
Please join the Telegram group or Discord community. Our dedicated team members are there to help.
