A smart contract wallet, enabled through a technique called account abstraction, is a DApp that automates transactions and self-manages assets.
Smart contract wallets are self-executing, scripted agreements that automatically enforce the terms of the agreement, providing users with more power and security than traditional wallets.as they are built on a blockchain and enable users to manage their digital assets using smart contract technology. These wallets provide users a means to keep crypto assets in self-custody.
The value n represents the total number of selected signatories. Each signature has their own unique private key. As the n value increases, the wallet gets more distributed and securer. The value m stands for the bare minimum of signatures needed in order to authorize a transaction. ERC-4337 is an account abstraction approach that allows one to use smart contracts as their primary accounts and does away with centralized relayers, EOAs or private keys. Thanks to ERC-4337, wallets can adopt more creative and user-friendly designs. It enables developers to integrate wallets with advanced features such as automatic payments, unique wallet recovery techniques and multi-factor authentication. These wallets are securer, more user-friendly and more versatile.
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