The recently deployed ERC-4337 standard on Ethereum achieves the long-awaited goal of account abstraction. This brings a number of benefits that could make the chain more suited to wider, public use. Find out why with the blog below.
ERC-4337 is an Ethereum standard that achieves account abstraction on the protocol without any consensus-layer changes. Deployed on the Ethereum mainnet in March 2023, ERC-4337 makes it possible to transact and create contracts in a single contract account. It opens the door to user-friendly crypto wallet designs that could potentially facilitate broader adoption.
platform. Ethereum Request for Comment is one type of EIP that sets application-level standards such as contract and token standards. An EIP can only become an ERC once the on-chain governance authorizes the change.deployed on the Ethereum mainnet to achieve its long-awaited goal of account abstraction. Some still refer to ERC-4337 using its original term, EIP-4337. However, EIP-4337 was initially proposed in 2021 and has been authorized to become ERC-4337 in 2023.
The two types of accounts in Ethereum have their own functionalities. EOAs are owned and controlled by users, while smart contract accounts are smart contracts that are deployed on the network. Both accounts can receive, hold, and send ether or tokens.
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