Credible accounts

We propose a new account model called Credible Accounts. Credible Accounts live in a secure computer of the user's choice that can make credible commitments about what messages it will and won’t sign. OneBalance accounts are Credible Accounts under the OneBalance framework.

By unbundling global consensus from the Smart Contract Account model, we are able to keep the speed and cost advantage of EOAs while retaining the UX improvements and non-equivocation guarantees of SCAs.

Each OneBalance account can be thought of as its own rollup. The account wraps individual user states from all chains and replicates it in a virtual environment. This virtual environment issues state transition requests as “resource locks” and fulfills those state transitions through cross-chain execution proofs. This virtual environment is secured by a credible commitment machine.

Since a OneBalance account provides the same guarantees as an SCA, it comes with all the same UX benefits of account abstraction, such as gas abstraction, social recovery, permission policies, and modern authentication methods.

A OneBalance account can create an arbitrary number of sub-accounts across any number of chains and manage any state present on those chains. It is backward compatible with all chains, smart contracts, and assets including Ethereum, Solana, Bitcoin, ERC20s, NFTs, DAOs, multisigs, defi protocols, and deposits or points programs. This multi-ecosystem compatibility is not possible with other current account models.