Introduction ERC-4337
An account abstraction proposal which completely avoids consensus-layer protocol changes, instead relying on higher-layer infrastructure.
Last updated
An account abstraction proposal which completely avoids consensus-layer protocol changes, instead relying on higher-layer infrastructure.
Last updated
ERC-4337 is a proposal designed to evolve the way Ethereum handles user transactions, but without modifying its foundational of Ethereum Network rules. Let's break it down:
No Core Changes: Instead of making changes at the very base layer of the Ethereum protocol, ERC-4337 suggests improvements without touching these core rules.
Introducing UserOperations: Typically, when you send a transaction on Ethereum, you're sending what's called a transaction.
However, under this proposal, there's a new concept: the UserOperation.Think of it as a special kind of transaction that users can create.
Separate Storage: These UserOperations don't go straight to the blockchain. Instead, they're temporarily stored in a separate area called a mempool.
Bundlers' Role: Enter the bundlers. They are like organizers who take a bunch of these UserOperations from the mempool and group them together.
Special Contract Interaction: Once the bundlers have grouped various UserOperations, they communicate with a specific Ethereum contract (EntryPoint) using a method called handleOps() . It's this bundled action that is prepared to be added to the blockchain.
Final Step: After the bundlers do their job, the group of UserOperations, now bundled into a single transaction, is officially added to the Ethereum blockchain when a new block is created.
User-Friendly Smart Wallets: The main aim is to let users have smart contract wallets with any verification logic. This eliminates the need for users to manage the basic Ethereum accounts, which are called EOAs.
Decentralization:
Open to All Bundlers: Bundlers (think of them as block creators) of any kind can join in and help process these new types of transactions.
Public Mempool Use: Everything is transparent and happens in a public space (mempool). Users don’t need to directly connect with any specific participants, like knowing their IP addresses.
Trust in Bundlers: You don’t need to worry about trusting the bundlers; the system is set up to be trustless.
No Core Changes to Ethereum: The Ethereum team is currently busy with major updates. So, to speed up the adoption of this proposal, it’s made in a way that doesn’t require any core changes to Ethereum.
Additional Benefits:
Privacy: Supports applications that prioritize user privacy.
Multiple Operations in One Go: This proposal aims for something similar to EIP-3074, which allows for multiple tasks in a single transaction.
Flexible Payment: You can pay transaction fees with popular tokens like ERC-20, and even allows developers to cover transaction costs for their users.
Grouped Signatures: Supports combined signatures, like BLS.
In short, ERC-4337 proposes a system that is more flexible for users, transparent, trustless, and doesn’t demand changes to Ethereum’s core rules. It also offers added features for privacy, payment options, and efficient transactions.
Next video watch until 09:50
