ERC4337: Trigger Transactions Autonomously Without Relying on External EOA Accounts

ERC4337: Autonomous Transaction Triggering Without External EOA Accounts

Digi researcher RyanCiz.eth discussed the possibility of enabling smart contracts to trigger transactions autonomously by modifying node and transaction structures after the proposal of the ERC-4337 standard.

After ERC4337, modifications to node and transaction structures will allow smart contracts to directly send transactions. In Ethereum’s previous design, EOA represented humans and CA (contract accounts) represented applications. Applications had to be triggered by EOA, making the design of many products tricky.

For example, in the case of loan liquidation, the intuitive understanding is that the contract can automatically sell assets to repay the debt, but the actual design requires an EOA account as a liquidator/keeper, and even additional liquidation rewards. Many other products also have similar designs, because smart contracts cannot trigger themselves.

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So, what about the abstraction of ERC4337 accounts? Most developers’ ideas are still focused on smart contract wallets, such as social recovery, Blockingymaster to enable ERC20 token payment for gas, and so on. For applications, such as the previously mentioned design of a lending platform, it is possible to achieve application triggering and status updates without the need for a liquidator role. In the future, new DApps will certainly appear to solve existing problems.

In addition, smart contract wallets will undoubtedly assist applications in the strong getting stronger. Smart contract wallet scalability is poor, and every application integration requires the development of corresponding contracts and ensuring security, otherwise it will affect the wallet’s existing users. This will lead wallet developers to integrate more mainstream applications. Of course, selling wallets and new solutions as a whole to applications is also a way of thinking.

Reference: https://twitter.com/ryanciz233/status/1678425246666305544

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