At the Ethereum Community Conference in Paris, Ethereum co-founder Vitalik Buterin praised the elegance of modern account abstraction, which does not require changes to the underlying protocol. Account abstraction involves switching from Externally Owned Wallets to smart contract-based wallets, potentially making managing a crypto wallet as easy as managing an email account.

The latest version of account abstraction, known as EIP-4337, would allow for non-custodial wallets as programmable smart contracts, unlocking features such as easy wallet recovery and signless transactions with lower fees. The upgrade could be a driving catalyst for Web3 adoption and incorporates signature aggregators, which could reduce costs by 86 times.