Native Account Abstraction

From EOAs to Smart Contract Accounts

The shift from externally owned accounts (EOAs) to smart contract accounts is poised to transform user interactions with blockchain networks fundamentally. This evolution introduces advanced functionalities such as seedless access, dynamic gas fee delegation, batch transactions, and programmable accounts, enhancing both usability and flexibility.

While ERC-4337 establishes a framework for smart contract accounts, its implementation outside the core protocol presents certain limitations.

It requires a distinct transaction flow, which complicates the transition for current users by necessitating asset relocation. Additionally, it imposes a significant gas overhead, with UserOperations incurring approximately 42k in gas fees, compared to around 21k for standard transactions. Moreover, ERC-4337 relies on a smaller network of nodes and non-standard RPC methods, which can be restrictive and less robust.

In contrast, EIP-2938 proposes a more integrated approach to Account Abstraction. However, it still needs to harmonize with the architecture of ERC-4337, which is currently in production without requiring protocol modifications. This discrepancy highlights the need for a more seamless integration to leverage smart contract accounts' benefits fully.

Ruby Chain addresses these challenges by pioneering the implementation of RIP-7560, which elevates smart contract accounts to first-class status at the protocol level. This approach ensures comprehensive backward compatibility with ERC-4337 ecosystems, facilitating a smoother transition for users and developers. By embedding these functionalities directly into the protocol, Ruby Chain not only simplifies the user experience but also enhances the overall efficiency and scalability of the network.