What is Account Abstraction?

Account abstraction is a blockchain technology that allows users to use smart contracts as their accounts. In traditional blockchain systems, most users have an Externally Owned Account (EOA) as their default account. EOAs are controlled by an external private key and are the default account model for most users on blockchain networks that use the Ethereum Virtual Machine (EVM). However, EOAs require a good understanding of how a blockchain works to use safely, which can be a barrier for some users.

Smart Contract Accounts

Contract accounts offer a solution to this issue by providing a better user experience. They allow for the implementation of arbitrary verification logic, such as multi-sig verification, and enable sponsored transactions, where users can pay transaction fees in ERC-20 tokens or with custom fee logic. Contract accounts also provide enhanced security features, such as social recovery and time-locks, and enable atomic multi-operations, which allow users to complete multiple operations with a single transaction. Often contract accounts are called smart contract wallets.

• 🔑 Arbitrary verification logic: Support single and multi-sig verification and any arbitrary signature scheme.

• 💱 Sponsored transactions: Allow users to pay transaction fees in ERC-20 tokens or build your own fee logic, including sponsoring transaction fees on your app.

• 🔒 Account security: Enable social recovery and security features like time-locks and withdraw limits.

• ⚛️ Atomic multi-operations: Build flows that better align with your user's intent such as trading in one click rather than approving and swapping separately.