Account Abstraction (EIP-2938): Why & What
This article motivates the need for Account Abstraction in the context of smart contract wallets and highlights key aspects of EIP-2938 by describing the proposed protocol changes and impact on nodes.
Ethereum has two types of accounts: Externally Owned Account (EOA) and Contract Account (CA). EOAs are controlled by a private key while CAs are controlled by the smart contract code contained in them. EOAs have always been more privileged than CAs because only EOAs can start transaction execution by paying gas. Account Abstraction (AA) is a proposal that allows a contract to be a “top-level” account, like an EOA, that can pay fees and start transaction execution. The motivation for AA is to significantly improve the user experience in how users interact with the Ethereum blockchain today…
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