What is account abstraction?

Account abstraction is a technology that allows users to use their smart contracts as accounts. This enhances user interactions with the chain by offering features like flexible security mechanisms, enabling transactions using tokens, and supporting cross-chain dexes without native currency.

Is account abstraction more secure than traditional wallets?

Yes and no. Account abstraction is a flexible technology with which developers may implement security options that were not previously possible. But with flexibility comes the risk of flawed implementations of wallets. Also, it’s crucial to use only trusted paymasters.

Is account abstraction ready to use?

Although the account abstraction standard ERC-4337 is still in draft mode, it is in the final stages. Smart contracts for it were deployed to the Ethereum mainnet and are ready to use. No significant changes are expected to occur.