Account Abstraction
Why Account Abstraction
limtations of EOAs
can only sign txns
only support one elliptic curve (secp256k1)
difficult seed phrase management
no txn batching - gas is expensive
multi-sigs on L1
e.g. gnosis safe
cant start or sign txns
second class citizen on ethereum
limited support and flexibility
goal of account abstraction (4337) is to make smart contract wallets first class citizens
customized signature verification (can use different elliptic curves)
transaction bundling (multicall)
paying fees with non-native tokens
payment delegation
differences between AA on Ethereum and Starknet
ethereum: application layer, starknet: protocol layer
both support custom signatures
fee delegation: ethereum has paymaster smart contract, starknet has metatransactions
signature verification and tx execution logic defined as a smart contract
process of having to sign multiple transactions to conduct a single function (e.g. swap) exposes user to potential MEV attacks & other inefficiencies
multicall on starknet
multiple steps (user operations) as a single transaction
create a bundle with all req. txns, and execute entire bundle at the same time in one block
with AA, user accounts are smart contracts
to deploy a smart contract, you need to pay gas fees
but to pay gas fees you need a user account
how does one deploy a user account if you dont have a user account to pay gas fees?
solution: counterfactual deployments
calculate the address off-chain
send funds to the address
deploy your user account
starknet OS deducts gas fees
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