The Era of Smart Contract Wallets
Smart accounts, enabled by the launch of the new ERC-4337 standard, are now available on Ethereum. And with this ERC-4337, the dawn of smart contract wallets is upon us. As Ethereum Foundation security researcher Yoav Weiss rightly said, “The next billion users are not going to write 12 words on a piece of paper.”
The ERC-4337 is an upgraded token standard that avoids the need for a consensus-layer protocol—essentially, unlocking the traditional wallets to function like smart contracts that can be programmed with custom capabilities.
That means now your dumb Ethereum wallet can have smart capabilities such as:
- No seed phrase
- External management
- Spending limits
- 2FA
- Bundled transactions & Pre-approvals
- Sponsored transactions
- Subscriptions
- Social recovery
That’s not all, the opportunities are vast and are only limited by your imagination. A smart contract wallet can be programmed with any logic and help you manage your funds and interact with web3 world more intuitively and securely.
In case you’re wondering how you can experience such a smart contract wallet. Well, that’s such an obvious question, isn’t it?
BTW, we wish you a Happy Holi from me and everyone at Obvious!
Tweet of the week:
https://twitter.com/waleswoosh/status/1633061326971871232
Web3 tool of the week:
If You Had Bought Crypto:
Ever wondered how rich you would be if you had invested in Bitcoin, Ethereum, or Dogecoin on the day they launched or all those times you talked about it?
You may need to sit down before you head to https://ifyouhadboughtcrypto.com/ and figure out the opportunity cost. Trust me, it will be a fun experience.