Ethereum developers have released a new software feature called “EntryPoint” that allows crypto wallets to function as Smart Contracts.
The main goal of this release is to improve the wallet user experience. by facilitating complex tasks such as automatic payments, and adding recovery methods. which is currently unavailable
After a thorough security audit conducted by security firm OpenZeppelin, EntryPoint went live on Wednesday. and is now accessible on blockchain networks including Ethereum, Polygon, Optimism, Arbitrum, BNB Chain, Avalanche, and Gnosis Chain.
With the help of EntryPoint, wallet apps are able to perform what is known as “account abstraction,” a mechanism that allows wallets. Complex tasks can be handled automatically without user interaction with the Ethereum blockchain.
EntryPoint is published as a standard. ERC-4337 It includes the ability to add features to wallet apps such as automatic payments and two-factor authentication recovery options.
“This will be an additional feature that crypto wallet providers can offer their users. Not a protocol-level change in Ethereum,” said Lukas Schor, co-founder of Safe, a leading wallet provider.
“Developers can now start building with the ‘official’ version of EntryPoint contracts,” Schor said, adding that previous versions of the EntryPoint contract already exist. But it hasn’t been fully tested for safety. And this has been finalized with the help of OpenZeppelin.
Michael Lewellen, Head of Solutions Architecture at OpenZeppelin, said: “The immediate impact that this will have on the ecosystem is for wallet infrastructure providers. There are even more options to provide smart wallet features such as account recovery, native multi-sigs, and gas fee cover for users.”
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