The recent Devcon conference highlighted Account Abstraction (AA) as one of the hottest topics in Web3, with terms like EOA, SCW, ERC-4337, and descriptors such as seedless, gasless, social recovery, and non-custodial dominating discussions. This guide unpacks these concepts to enhance your understanding of Web3 account architectures.
Key Web3 Account Types Explained
EOA (Externally Owned Accounts)
- Definition: Traditional wallet addresses (e.g., MetaMask-generated) derived from cryptographic hashing of private/public keys.
Characteristics:
- Simple generation:
Private Key → Public Key → Keccak256 Hash → Address. - Transactions require explicit EOA signatures and gas payments.
- Exclusive to EVM chains (e.g., Ethereum).
- Simple generation:
CA (Contract Accounts)
- Definition: Smart contract-controlled addresses (e.g., ERC-20 tokens, DeFi protocols).
Capabilities:
- Programmable logic (e.g., multi-signature wallets like Gnosis Safe).
- Cannot initiate transactions or pay gas independently (without AA).
Advanced Concepts
SCW (Smart Contract Wallets)
Features:
- Batch transactions (e.g., approve + swap in one action).
- Custom permissions (e.g., higher security for NFTs vs. tokens).
- Offline authorizations (P2P atomic swaps).
Account Abstraction (AA)
Goal: Replace EOAs with SCWs, enabling:
- Key rotation.
- Gas sponsorship.
- Social recovery.
- ERC-4337: Implements AA without consensus-layer changes by standardizing SCW interfaces.
User-Centric Innovations
| Term | Description |
|---|---|
| Seedless | Eliminates seed phrases; recovery via social or cryptographic methods. |
| Gasless | Relayers pay gas fees, funded by user assets or dApp subsidies. |
| Social Recovery | Uses trusted contacts/credentials to regain account access. |
| Non-Custodial | Users retain full control; providers cannot block/access funds. |
Security Paradigms
MPC & TSS (Threshold Signature Schemes)
- MPC: Distributes key control across parties (e.g., 2-of-3 shards).
TSS vs. Multi-sig:
- TSS: Single public key with distributed private shards.
- Multi-sig: Multiple independent keys.
👉 Learn more about secure Web3 wallets
FAQ Section
Q: Can CAs replace EOAs entirely?
A: Yes, with AA—ERC-4337 paves the way for SCWs to handle all transactions.
Q: Is seedless truly secure?
A: When combined with social recovery or hardware-bound keys, yes.
Q: How do gasless transactions work?
A: Relayers offset costs via user token swaps or dApp subsidies.