Ethereum

Polygon

<p>Innovation is the key to staying competitive. A perfect example of this innovation is Ethereum’s new ERC-4337 standard, which is completely rethinking our understanding of transactions. Let’s take a closer look at this new phenomenon and see how it’s reshaping the blockchain landscape.</p> 
<h2 id="smart-wallets-a-new-era-for-ethereum">Smart wallets: A new era for Ethereum</h2> 
<p>Have you heard of the ERC-4337? It’s the latest technological marvel powering smart wallets on Ethereum and EVM-enabled chains like Polygon and Avax.</p> 
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<p>Smart wallets aren’t a new concept, but the ERC-4337 gives them a new dimension by enabling them to perform complex tasks beyond simply signing transactions.</p> 
<p>The ERC-4337 was introduced by Yoav Weiss, a developer at the Ethereum Foundation, in <a href="https://eips.ethereum.org/EIPS/eip-4337" target="_blank" rel="noopener noreferrer nofollow">2023 at WalletCon in Colorado</a>. It enables the creation of a new type of Ethereum wallet account capable of arbitrary verification logic.</p> 
<p>In other words, your wallet is no longer just a safe for your assets, but a multifunctional tool for navigating the Ethereum ecosystem.</p> 
<h2 id="the-abstraction-of-accounts-an-ambitious-vision">The Abstraction of Accounts: An ambitious vision</h2> 
<p>Account abstraction is the concept behind ERC-4337. It allows people to use smart contracts as their main accounts, creating “smart portfolios”.</p> 
<p>This means that your portfolio has the “intelligence” to determine how much to pay for a transaction and who will pay for it. Account abstraction also enables more advanced security features and even the ability to retrieve your account without centralized help.</p> 
<p>However, it’s important to note that ERC-4337 is not a true account abstraction. Rather, according to Ethereum founder Vitalik Buterin, ERC-4337 offers “a decentralized fee market for user transactions in smart contract wallets”.</p> 
<h2 id="the-benefits-of-erc-4337-a-giant-step-into-the-future">The benefits of ERC-4337: A giant step into the future</h2> 
<p>The ERC-4337 offers several exciting advantages. Firstly, it allows you to perform multiple actions in a single transaction, which is ideal for traders and gamers. What’s more, it offers the possibility of sharing a transaction with your friends or family, thanks to the set-up of transactions that require multiple signatures.</p> 
<p>What’s more, the ERC-4337 delivers a smoother user experience. Blockchain subscriptions will be possible, and transactions can be pre-approved and auto-approved. Finally, the ERC-4337 standard offers greater flexibility in terms of security, by allowing users to define rules concerning spending or approvals.</p> 
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<p>ERC-4337 is undoubtedly a major step forward for Ethereum and the blockchain industry. Although account abstraction is still a long way off, ERC-4337 is an important step in that direction. Like any technological innovation, it raises both excitement and questions. Only time will tell how ERC-4337 will reshape the blockchain landscape. However, one thing is certain: Ethereum is at the forefront of innovation and shows no signs of slowing down.</p>

ERC-4337: The new Ethereum standard for transactions

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