Overview of EIP-4337

What is EIP-4337?

EIP-4337 promotes a ecosystem-wide standard to implement the concepts of Account Abstraction on EVM ecosystem without changing the ethereum protocol itself. It introduces new concepts such as userOperations, bundles, bundlers, aggregators, paymasters, smart contract wallets etc for this. All of these are abstract concepts not natively understood by the Ethereum protocol itself, rather implemented using off-chain components and smart contracts.

The work was mainly carried out by the eth-infinitism inside the Ethereum Foundation. In Feb 2023, during Eth Denver, the first audited version of the entrypoint was made available on ethereum mainnet and prominent L2s.

The supporting tooling & infrastructure are being actively developed and while we are seeing many wallets come up, it would take couple of months for products to mature and start seeing adoption.