What is ERC-4337 account abstraction and what is it for

Stock Point
2 min readJun 10, 2023

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It was always thought that the guarantor of the safety of your assets was the seed phrase, which had to be kept in a safe place.

🟠But a new solution has already been invented - abstraction of accounts (ERC-4337), which will give you the opportunity to no longer think about losing and not finding your paper with 12 words.

🟠ERC-4337 is a new Ethereum standard that creates abstract accounts. This means that your wallet becomes a smart wallet in which you can conduct transactions through a single mechanism to accept them. An added bonus is that paying for gas will be possible with any ERC-20 token, and services that use it will be able to transfer gas payments in fiat through a smart contract.

Seed-phrase can now be recovered through previously specified custodian contracts. In addition, smart accounts can consolidate all transactions and thus significantly reduce gas payments.

🟠It would seem that everything is super, but there is a nuance - to bring all this to life requires an extensive infrastructure. More precisely the nodes that will bundle transactions into packages, thereby reducing the high gas fee.

🟠If the developers find this solution, then in the near future the ERC-4337 standard could become a major aspect of mass adopting, as economy and ease of use have always been in high esteem among cryptos. Waiting...

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