Curious about the current state of Account Abstraction? 👀

In March 2023, Ethereum introduced ERC-4337 with an ambitious vision: to shift from traditional Externally Owned Accounts (EOAs) to versatile, smart contract wallets.

Back then, Ethereum developers and maximalists were quick to claim that Ethereum would become the go-to platform for everyone, with Vitalik envisioning a world running on-(his)-chain. As an offchain solution, @dfnsHQ was seen by default as a deviation from the ‘right’ path.

Regardless, we embraced AA with interest, recognizing its potential and promise to transform user experience and security on Ethereum with features like multisig approvals, batch transactions, and flexible gas fees.

But how has it really performed since then? In our latest blog post, *The State of AA,* co-authored by Noah Cornwell and Joshua Siegel, we take a comprehensive look at the journey of Account Abstraction, from its accomplishments to its obstacles, and what the data reveals about real adoption 🔍

While ERC-4337 has delivered notable benefits and interesting concepts, it has also faced persistent challenges such as complex integrations, high gas costs, user retention issues and more. Today, it’s safe to say that the first version of AA has failed to some degree.

In response, Ethereum is preparing to pivot to EIP-7702 with the Petra hard fork, a new proposal designed to address some of ERC-4337’s most pressing limitations. Perhaps this one is the right one! 🤞

🔗 Read the full story here: https://t.co/ZErheihPHJ