ANNOUNCEMENT! We're excited to share that The Block Pro, a portfolio of research, news and data products in one easy-to-use platform, launches later this month. Reach out to your account manager for more information about products and subscription options.
The majority of crypto users currently use externally owned account wallets that have suboptimal security measures and a lackluster UX.
Account abstraction is a framework to replace externally owned accounts with contract accounts, enabling wallets to have custom programmability and their own logic akin to a smart contract.
Features of smart contract wallets include batched signing, session keys, additional security measures and private key replacement with social recovery.
EIP-4337 aims to implement account abstraction without having to make consensus-layer changes to Ethereum.
Join The Block Research for exclusive research like this
Gain access to this research piece and 100s of others, including ecosystem maps, company profiles, and topics spanning DeFi, CBDCs, banking and markets. Together with additional services, we help organizations understand what’s happening in the rapidly developing digital asset ecosystem.