EIP4337: The Future of Ethereum Account Abstraction
When we first started to engage in decentralized financial transactions, the first thing we needed was a wallet. In the process of operating wallet tools on the chain, most people can perceive that the user experience is different from what we are used to——On-chain wallets can fully manage digital assets, but lack account security (such as the external account EOA "Externally Owned Accounts" and contract account CA "Contract Account" of the Ethereum system).
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Comparison of EOA & CA, a common on-chain self-custodial wallet in Ethereum
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Account abstraction: fully automatic integrated payment
The existing account system requires users to safely store and protect private keys/mnemonic words, otherwise there will be a risk of losing digital assets. At the same time, the lack of security also deters many users who want to participate in encrypted digital transactions, and even prevents the use of functions on the chain. So what is the solution to the account wallet security problem?It is account abstraction (Accout Abstraction), a self-hosted wallet that explores automated programmable payments and supports automatic withdrawal of funds to write smart contracts.
Account abstraction can provide users with the ability to simplify the use of accounts. Just like we open a website email account, we only need to learn how to operate it, without knowing how it works. With account abstraction, we can get rid of the shackles of mnemonic words/private keys, etc., and can also enable different signature options. Gas fees are sponsored by DApp or paid by Token.
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Unleashing account abstraction with EIP 4337
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development path
EIP-86, introduces smart contracts as "forwarding contracts", anyone can send transactions from the entry address.
EIP-1014, predict the deployment contract address, play the role of smart contract wallet, and ensure that the contract address is the same on all EVM chains.
EIP-2938, creating a new operation password for "account abstraction" transactions, the protocol was changed too much and was subsequently abandoned.
EIP-3074, which creates two entirely new opcodes that, when used together, allow smart contracts to send transactions on behalf of the EOA, has not been implemented at the risk of security.
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Operating principle
EIP 4337 does not modify the logic of the consensus layer itself, and copies the functions of the current transaction storage pool (tx mempool) into a higher-level system. This proposal innovatively introduces the concept of "User Operations", allowing custom function coding To the smart contract wallet, user operations can package intent, signature, and other data for verification. The operation process of EIP 4337 consists of the following three steps:
User Operations: Initiate "user operations" and send them through the custom Mempool.
Bundler packaging: Bundler selects the object containing UserOperation according to the cost priority, and uses the bundler to call the EntryPoint contract for verification
Running the transaction: If no errors are encountered during the above process, the transaction will be included in the next block of the network for implementation.
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safety performance
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freedom of operation
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architecture compatible
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Fee subsidy
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Break through the difficulties and let EIP 4337 successfully create the next generation of wallets
Seizing the dividends of the merger of the Ethereum route, EIP 4337 has become a "potential stock" that releases the possibility of account abstraction. We can see that EIP 4337 has changed the discomfort of the old on-chain account experience, and has become the main way for many Web3 applications to give users self-custodial assets, and has more opportunities to promote large-scale adoption of this solution by project parties. This is not only the focus of attention in the upsurge of smart contract wallets, but also a major innovation of blockchain technology in the Internet era.
However, while EIP 4337 has many advantages, it also needs to constantly overcome its own shortcomings and radiate new vitality. For example, the DoS vulnerability added in the execution process brings more complex logic than a single ECDSA verification; the account cannot queue up to send multiple transactions to Mempool, but can only conduct one transaction at a time; in addition to subsidizing Gas fees, itself The running Gas cost is not cheap... These key points that need to be optimized are worthy of more developers' thinking and finding solutions. Only by continuously optimizing the details of the draft and improving the technical solution can EIP 4337 become the best way to realize account abstraction select.
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references
Analysis: How EIP-4337 uses account abstraction to improve Ethereum's complex user experience issues
