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 Account abstraction advocate John Rising shared “sobering” figures concerning the adoption of ERC-4337 smart accounts.
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<div class="cointelegraph">
 Ethereum account abstraction advocate John Rising has shared some “sobering” numbers showing overall ERC-4437 adoption has been far from ideal.&nbsp;
 In a Nov. 14 post on X (formerly Twitter), Rising shared data points that showed ERC-4337-enabled smart accounts suffered a decline in users, low transaction activity and poor operational costs for core infrastructure providers.
 The ERC-4337 standard was launched through a surprise March 1 announcement at WalletCon in Denver. At the time, many were optimistic that ”smart accounts” would witness rapid adoption as the tech allows users to bypass the use of seed phrases and signing for certain transactions and would generally increase the user experience on Ethereum Virtual Machine-compatible blockchains.
 Using <a rel="noopener noreferrer nofollow" title="figures" href="https://thebittimes.com/tag/figures.html">figures</a> from <a rel="noopener noreferrer nofollow" title="account" href="https://thebittimes.com/tag/account.html">account</a> abstraction data platform BundleBear, Rising claimed monthly <a rel="noopener noreferrer nofollow" title="account" href="https://thebittimes.com/tag/account.html">account</a> retention had been “terrible” with just 6.89% of all the initial <a rel="noopener noreferrer nofollow" title="smart" href="https://thebittimes.com/tag/smart.html">smart</a> <a rel="noopener noreferrer nofollow" title="accounts" href="https://thebittimes.com/tag/accounts.html">accounts</a> having stuck around for more than six months.
 <blockquote class="twitter-tweet">
 Retention is terrible. The one exception to this is CyberConnect, who had a lot of users return to claim an airdrop. Data: @0xBundleBear pic.twitter.com/TUzQQJYcp8— John Rising (@johnrising_) November 13, 2023
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 Rising also highlighted that bundlers — core infrastructure components that allow smart accounts to function on EVM-compatible chains — were largely unprofitable despite some projects accidentally paying “too much” in gas to the bundlers.
 Additionally, the average smart account was found to have only sent five user operations — the execution of transactions or activities from the account.
 Related: Fireblocks, UniPass Wallet tackle Ethereum ERC-4337 account abstraction vulnerability
 However, Coinbase protocols lead and Base creator Jesse Pollak pushed back on Rising’s description of the numbers as “sobering” — claiming instead that the adoption of the new technology would happen “slowly, then suddenly.”
 “Just seems very early. Growth seems to be healthy, standardization seems to be happening,” Pollak said. “More and more teams I’m talking to are making the jump.”
 <blockquote class="twitter-tweet">
 fwiw, this doesn't feel sobering to me - just seems very early. growth seems to be healthy, standardization seems to be happening, more and more teams i'm talking to are making the jump. slowly, then suddenly :)https://t.co/F7sU4xUqbD— Jesse Pollak (jesse.xyz) ️ (@jessepollak) November 13, 2023
 </blockquote>
 Dune analytics data showed August was the largest month for active account abstraction wallets with over 420,000 active smart accounts across seven blockchains.
 <figure><img src="https://cdn.thebittimes.com/images/2023/11/14/68c7a7dff5cd67f2065de6d713c5c367.webp">
 <figcaption style="text-align: center;">The number of monthly active smart accounts. Source: Dune Analytics
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 Active <a rel="noopener noreferrer nofollow" title="smart" href="https://thebittimes.com/tag/smart.html">smart</a> <a rel="noopener noreferrer nofollow" title="accounts" href="https://thebittimes.com/tag/accounts.html">accounts</a> have been on a somewhat steady decline with 143,000 monthly active <a rel="noopener noreferrer nofollow" title="accounts" href="https://thebittimes.com/tag/accounts.html">accounts</a> recorded in October.
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Source: <a rel="noopener noreferrer nofollow" target="_blank" href="https://thebittimes.com/new-figures-show-hardly-anyone-is-using-erc-4337-smart-accounts-tbt70164.html">https://thebittimes.com/new-figures-show-hardly-anyone-is-using-erc-4337-smart-accounts-tbt70164.html</a>

New figures show hardly anyone is using ERC-4337 smart accounts

TheBitTimes

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