[Announcement] NEOPIN embracing the ERC-4337, the evolution of wallet UX

Hello everyone,

This is a global CeDeFi platform, NEOPIN.

Today, we are excited to reveal that ERC-4337, an Ethereum ‘Account Abstraction’ update, will be integrated into the NEOPIN platform.

Following our recent rebranding to strengthen its CeDeFi platform and effort to leap forward globally, we plan to improve the UX/UI of our wallet and aggressively expand its business in the global market by applying ERC-4337.

Based on ensuring reliability through regulatory compliance, our strategy is to significantly improve user experience and stability by implementing new features including a multi-signature, social recovery and new signature algorithms.

In addition, features that lower the barrier to entry for users and strengthen security will be improved, including the setting of transaction limits and usability of native tokens as a network fee.

About ERC-4337

ERC-4337 is a technology that was recently announced by the Ethereum Foundation at ETH Denver. This feature is expected to significantly contribute to the mass adoption of the web3 market by reinforcing wallet security and usability, as well as improving private key management — one of the most challenging issues faced by the public.

About Account Abstraction

Account Abstraction is the integration of the functions of Ethereum’s “External Ownership Account (EOA)” and “Contract Account (CA)” into a “Smart Contract Wallet”. The most significant improvement for users is Social Recovery which allows users to recover their wallets with the contact details of their family and friends, even if they lose the recovery phrase(mnemonic).Blockchain wallets have been criticized for the inconvenience of users having to manage their recovery phrase by themselves. Compared to the user experience of using IDs and passwords, managing a recovery phrase is much more complicated. Moreover, if users lose their recovery phrases, the recovery process is impossible, which has been identified as a significant obstacle to the mass adoption of blockchain.