• Ethereum developers have launched a new software called EntryPoint which allows wallets to operate as smart contracts.
• The feature is designed to improve the user experience of crypto wallets, making them more accessible and more intuitive to use.
• EntryPoint is part of the broader ethereum request for comments (ERC) 4337 that describes features such as automated payments and two-factor authentication recovery options.

Ethereum Update Enables Wallets to Operate as Smart Contracts

Ethereum developers have launched a new software feature called EntryPoint that enables wallet accounts to function as smart contracts. This feature brings so-called “account abstraction,” which allows wallets to automatically handle complex tasks without requiring users to interact with the underlying blockchain. It makes crypto wallets more accessible and intuitive for users by offering advanced features such as automated payments and account recovery quickly.

Security Audit

EntryPoint underwent a thorough security audit by OpenZeppelin before it was launched and is now available on various blockchain networks, including Ethereum, Polygon, Arbitrum, and BNB Chain. It will enable account abstraction on all those ethereum-based protocols.

Features Offered By Entry Point

EntryPoint is a smart contract that allows wallet infrastructure providers to offer more options for smart wallet features, including native multi-signatures, account recovery, and gas fee coverage for users. The safety of this architecture relies on how securely it is implemented in the one contract.

ERC 4337

The broader ethereum request for comments (ERC) 4337 describes features such as automated payments and two-factor authentication recovery options which are enabled by EntryPoint’s implementation of account abstraction.

Conclusion

EntryPoint is an important step forward in the development of Ethereum technology enabling wallets to operate as smart contracts with improved user experience through increased accessiblity and intuitiveness