Currently, the most common type of blockchain accounts, known as Externally Owned Accounts (EOA), have limited recovery options; if a user loses their private key, their crypto holdings are lost forever. EOA accounts also can’t attach information that could be read by other smart contracts, and transaction fees cannot be paid by other parties as well on an EOA, meaning the user is in charge of providing fees for gas.
Fabian Vogesteller’s Lukso Blockchain Adds ‘Universal Profiles,’ in Push for ‘Fancy’ Ethereum
