Account abstraction (“AA”) has witnessed significant developments with new features and innovations that seek to simplify the user experience.
Part of the Ethereum roadmap initiative, AA aims to replace externally owned accounts (EOA) with smart accounts by incorporating programmable logic. With the introduction of ERC-4337, AA is now supported on the Ethereum Mainnet without making changes to the core consensus level.
Zk-rollup solutions StarkNet and zkSync have already launched native AA solutions with the emergence of wallet providers such as Argent and Bravoos that seek to offer these solutions.
Many use cases have been identified with traditional institutions, such as Visa, which is trailblazing with its exploration and experiments in this space. Wallet service providers and protocols such as Lens Protocol and CyberConnect have also adopted AA. These have been revealed to exhibit realized and potential benefits to encourage user onboarding into the Web3 environment.