What is ERC-4337?

ERC-4337 is an Ethereum standard, and it was initially deployed to the mainnet in March 2023. The ERC-4337 standard proposes an implementation of account abstraction using an alternative mempool and provides smart contracts with EOA features. Furthermore, ERC-4337 is a way to combine smart contract functionality and wallets in a single account, enabling the seamless creation of so-called smart contract wallets. This significantly improves the flexibility of Ethereum accounts, making it easier to implement services like multi-factor authentication, automatic payments, etc.

An important aspect of ERC-4337 is that it doesn’t require any alternations to the Ethereum core protocol, and this is one of the many reasons why the community currently favors this approach.