ERC-4337: Innovating Ethereum transaction experience, leading a new era of account abstraction

In the field of Ethereum smart contracts, a groundbreaking proposal led by Vitalik Buterin, ERC-4337, is quietly changing the rules of the game. The proposal not only profoundly introduces the concept of account abstraction, but also cleverly avoids complex changes at the protocol level, effectively reducing the risk of fragility of the consensus mechanism. Its core highlight is that through the innovative Alt memory pool mechanism, ERC-4337 brings unprecedented transaction flexibility and efficiency to Ethereum users.

ERC-4337 carefully designed the UserOperations component. This innovation allows users to integrate multiple transactions into a single operation package, greatly simplifying complex transaction processes such as token approval and exchange. The introduction of the Bundler role is responsible for efficiently integrating and communicating these packaged operations with other transactions and submitting them to the network, further improving the efficiency and scale of transaction processing. What's more exciting is that smart contract accounts can automatically trigger transaction processes based on preset instructions or goals, realizing programmatic and automated execution of transactions.

Of particular note is the paymasters smart contract in ERC-4337, which completely subverts the traditional way of paying gas fees. Through flexible gas policy design, dApp can now easily sponsor transaction fees for its users, and even support the use of ERC20 tokens (such as USDC) instead of ETH to pay gas, greatly reducing the economic burden and operation threshold of users. In addition, the paymasters mechanism also allows third parties to pay gas fees for users, completely eliminating user experience friction in the transaction process, and creating a new payment model and freedom of choice for users.

The entire transaction process has been carefully optimized, from verifying user operations to executing transactions, tracking gas consumption, and finally payment settlement, every step strives to be efficient and transparent. The launch of ERC-4337 will undoubtedly promote the Ethereum ecosystem to move towards a more convenient, intelligent, and decentralized direction, and lay a solid foundation for the widespread application and popularization of blockchain technology.

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