🔤Glossary
Account: A digital identity represented by a unique address, which holds and transacts cryptocurrencies and other digital assets, and interacts with other accounts on the blockchain.
Account Abstraction (AA): A concept in blockchain technology that simplifies user interactions by treating user accounts and smart contracts similarly, enabling more flexible and user-friendly experiences.
Aggregator: Aggregators facilitate efficiency by merging several signatures into one. When there are multiple messages each signed with distinct keys, an Aggregator has the capability to create a unified, verified signature.
Bundler: Bundlers represent a specialized form of Ethereum nodes that focus on processing UserOperations, either exclusively or alongside standard Ethereum transactions.
EIP (Ethereum Improvement Proposal): A design document providing information to the Ethereum community, or describing a new feature for Ethereum or its processes or environment.
EIP-1271: An Ethereum Improvement Proposal (EIP) that defines a standard for smart contract accounts (SCAs) to verify signatures and enables them to behave like EOAs. It adds an extra layer of security to smart contracts and prevents unauthorized access or malicious behavior.
ERC (Ethereum Request for Comment): ERC is the protocol to introduce new improvements to the Ethereum network by the developers. It is a collection of guidelines for data formatting and transmission. These guidelines suggest new protocol changes or standards to the Ethereum network.
ERC-4337: An Ethereum standard which proposes complete Account Abstraction. It advocates for the use of Smart Contract Accounts (SCAs) as the primary accounts for users. ERC-4337 runs on top of the blockchain and does not require any changes to the blockchain itself.
ERC-6900: It standardizes smart contract accounts and account plugins. Plugins enhance the capabilities of smart contract wallets by acting as external smart contracts. Authorized by users, these plugins add extra features while maintaining the integrity of the core smart contract logic.
EntryPoint: An EntryPoint is a unique smart contract designed to process transactions received from Bundlers. It plays a critical role in verifying and executing UserOperations.
Externally Owned Account (EOA): An Externally Owned Account (EOA) serves as a means for storing and transferring ETH, ERC-20 tokens, and various digital assets. An EOA is generated from a public key and is secured by a private key.
Multi-Signature Wallet (Multi-Sig): A type of digital wallet that requires multiple parties to authorize a transaction before it can be executed.
Paymaster: The ERC-4337 includes a smart contract specifically designed to manage gas payment policies. This feature allows developers to offer their users gas-free experiences through sponsored transactions or by utilizing ERC-20 tokens to cover gas fees.
Smart Contract Account (SCA): A Smart Contract Account (SCA) is the designated recipient in a UserOperation. SCAs are highly programmable accounts capable of storing assets within on-chain smart contracts. Unlike Externally Owned Accounts (EOAs), which are governed by a private key, SCAs operate under complex, customizable verification logic.
UserOperation: The ERC-4337 process begins with a UserOperation, which is similar to a transaction but represents the user's intention to transact. A UserOperation can encompass multiple requests and additional data, enabling a Smart Contract Account (SCA) to execute the intended transactions.
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