Key Takeaways
- Safe has introduced ERC-4337 compatibility, allowing developers to leverage account abstraction.
- This upgrade simplifies the user experience and offers features like gas fee payment, social recovery, spending limits, and subscriptions.
- Account abstraction is considered one of the most important upgrades to Ethereum.
Safe, formerly known as Gnosis Safe, has announced the integration of ERC-4337 compatibility through its plugin system called “Safe Modules.” This upgrade allows developers to utilize account abstraction on Safe’s smart account infrastructure, as the project approaches $60 billion in secured digital assets.
Account abstraction is considered a significant improvement to Ethereum and has been highlighted in Vitalik Buterin’s blog as crucial for the widespread adoption of web3.
Safe has been a pioneer in account abstraction, with over 3.6 million smart accounts across various chains. The recent launch of World App by Sam Altman’s Worldcoin has further contributed to Safe’s leadership in this area.
ERC-4337, an integral part of account abstraction, simplifies self-custody for users. It serves as a transaction relayer for smart accounts, offering an off-chain transaction pool for organizing transactions before they are relayed to the blockchain.
This abstraction technology enables users to handle complexities like gas fees, social recovery, spending limits, and subscriptions. Notably, even payments giant Visa has shown interest in account abstraction.
To facilitate the development of accessible and user-friendly apps with smart account features, Safe introduced Safe{Core}.
With the heightened concern for asset security, Safe’s account abstraction infrastructure now provides a fully audited upgrade that supports ERC-4337.
The compatibility is designed to be modular, ensuring flexibility for developers and accommodating a wide range of use cases.
Richard Meissner, Co-Founder and Technical Lead at Safe, emphasized the importance of providing developers with a modular, flexible, and unopinionated stack for account abstraction. As ERC-4337 evolves, it will serve as a relaying option for developers to create products for millions of users.
The ERC-4337 support is immediately available through the Safe{Core} AA SDK, enabling developers to build upon it. It will also play a significant role in the upcoming ETHGlobal Paris hackathon for Safe.
Read Also: Safe Wallet Integrates DeFirewall to Boost Crypto Transaction Security