<aside> 🔥 4337 Revolution
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Co-authored by Vitalik Buterin, Yoav Weiss, Kristof Gazso, Dror Tirosh, Shahaf Nacson and Tjaden Hess, ERC-4337 introduces account abstraction without any modifications to the core protocol. It achieves so by replicating the functionality of the transactions mempool in a higher-level system. However, instead of transactions, users send UserOperation objects to Ethereum nodes, and they package a set of these objects into a single transaction that gets included in the Ethereum chain.
Through ERC-4337 Account Abstraction is becoming widespread! Join the numerous projects in the ecosystem that understand that if we want to onboard the next billion users, accounts can't be forced to choose between security and usabilty - they must offer users both.
ERC-4337 takes usability even one step further by introducing paymasters. This decentralized mechanism enables users to pay gas fees using ERC-20 tokens instead of ETH or request a third party to sponsor their gas fees altogether.
ERC-4337 enables account abstraction while preserving the ethos of the ecosystem by offering an anti-fragile approach that has no single point of failure and is censorship resistant
Thanks to its design of the higher-level UserOp mempool, ERC-4337 can be adopted without any consensus protocol changes
Support for signature schemes that are more efficient (Schnorr, BLS), user friendly (smartphone secure enclave) as well as quantum-safe ones (Lamport, Winternitz)
Paymasters remove UX friction and open up new paradigms, by allowing users to pay network fees with ERC-20 tokens instead of ETH, or even request any third party to cover those fees altogether.