Smart Ethereum wallets become operational with the launch of Pectra
The Ethereum network has undergone a significant upgrade with the launch of Pectra, marking the largest upgrade since the Merge. This update brings Account Abstraction to the forefront, aiming to enhance the user experience on the Ethereum blockchain.
One of the key beneficiaries of this feature is the popular wallet, MetaMask. According to MetaMask documentation, users can now upgrade their accounts to enable Account Abstraction in the account details. However, the author was unable to replicate this upgrade in their MetaMask wallet, regardless of the operating system and browser used. MetaMask may be rolling out Account Abstraction features gradually.
Account Abstraction is a significant feature of Pectra for users, making Ethereum wallets "smart". This feature allows users to pay fees with tokens, bundle multiple actions, and preview transaction results. Ambire Wallet has already implemented this feature, claiming to have introduced Account Abstraction, allowing AI agents to potentially improve users' portfolios, manage DeFi positions, and automatically collect airdrops in the future.
The hardware wallet Ledger is also joining the fray, gradually expanding the list of smart contracts it allows for interactions. Initially, the Ledger will allow converting accounts into smart wallets, limiting interactions to well-established smart contracts. The risks are reduced by this initial limitation, ensuring a smoother transition for users.
Interestingly, the specific developers who implemented Account Abstraction in the Ledger hardware wallet are not publicly disclosed. The information available pertains to using Ledger devices with blockchains like Aptos or projects related to Account Abstraction in blockchain ecosystems, but no direct attribution to particular developers for Ledger's Account Abstraction implementation is mentioned.
Trust Wallet is another wallet service that is introducing Account Abstraction according to EIP-7702. This will allow users to pay fees with tokens, bundle multiple actions in one transaction, or allow recipients of a payment to pay the fees.
The Pectra upgrade went live on Wednesday of this week, marking a new era for Ethereum users. With these advancements, Ethereum feels better for users, offering more flexibility, efficiency, and security in managing their digital assets.
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