Account Abstraction: Improving Crypto Wallet UX

The majority of users in the space currently use wallets that are externally owned accounts (EOA), with MetaMask being a primary example. An EOA contains a public and private key, in which the latter is responsible for signing transactions and proving ownership over an address’ assets.

EOAs have accommodated hundreds of millions of users up to this point but are difficult to scale for mainstream adoption with users that may not be as familiar with the blockchain environment. The user experience (UX) of EOAs is complicated as a simple swap transaction often requires multiple signatures and approvals while the learning curve itself is steep.