The Transformation of Ethereum Wallet: The Potential and Challenges of Account Abstraction and…

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• this is where the term account abstraction comes from: an account is abstracted from the signer.

• they do not support concurrent transactions.

• You will also enjoy the convenience of a centralized exchange within a decentralized exchange. However, your funds will remain entirely in your control, reassuringly eliminating CEX risks such as insolvency or a rug pull.

• account abstraction smart contract specification ERC-4337 was written into The Splurge as a key element in the shift from EOA wallets to smart contract wallets.

• Private key → public key → Keccak256 hash → last 20 Bytes → hexadecimal string (EOA address)

• node validation rules

• Transaction signature → ec_recover → public key → address (generated using the above rule) → compare to the address to be operated on

• the core setting of EOA is to act as the initiator of a transaction and pay gas

• Simpler and quantum-resistant digital signatures are a clear improvement over the current ECDSA.

• Key management:

• e inability to perform multiple operations at once

• Several wallet solutions attempt to address these issues.

• MPC wallets and smart contract wallets are not completely independent solutions

• Gnosis

• Argent wallet uses a smart contract wallet, and pioneered the social recovery model

• However, the CA’s inability to actively operate and pay for gas is limiting

• Since transactions can only start from an EOA, smart contract wallets typically provide a relay service.

• making it impossible for new users to join quickly

• The answer? Account abstraction (AA).

• you can control your wallet assets without managing your private key; the separation of the signer and the account itself allows you to operate transactions with fewer security hassles