Smart Wallet

A Smart Wallet is a wallet that is controlled by a smart contract following the ERC-4337 specification.

Ethereum has 2 types of accounts to transfer and receive tokens: EOAs (Externally Owned Accounts) and Contract Accounts. A smart contract wallet is a wallet managed by a contract account instead of an EOA. A smart wallet is a wallet type requiring no private keys or seed phrases. Smart contract wallets rely on code instead of private keys to secure and recover wallet information. Instead, you set who and under what conditions, users may access the wallet via smart contracts.

A smart contract wallet is a type of Web3 wallet powered by smart contracts.

This smart wallet is unlocked by a 'key' - a personal account. This key can be anything from a MetaMask wallet or even a Local Wallet and is used as a way to 'sign in' to the wallet.

Benefits of Smart Wallets:

1. Optimized transaction efficiency & batch transactions
   • Combine multiple transactions into a single transaction to save on gas fees
2. Improved Security Features
3. Social & Multi-Sig Recovery
   • Recover a wallet without seed phrases/passwords
   • Nominate a trusted person to recover your wallet in the case of an emergency