Account Abstraction

Account abstraction is a concept that allows for more flexibility and extensibility in how transactions are executed and how smart contracts interact with each other.

Traditionally, transactions are initiated from externally owned accounts (EOAs), and the gas fees for executing those transactions are paid by the sender.

With account abstraction, the EVM introduces the notion of "meta transactions" and enables the separation of transaction execution logic from the underlying account structure. This means that transactions can be initiated and paid for by entities other than the sender, such as relayers or smart contracts themselves.

In the context of an EVM wallet, account abstraction allows for the creation of "meta wallets" or "contract wallets" that can act as intermediaries for executing transactions on behalf of multiple users. These wallets are smart contracts that manage the logic for processing transactions and can provide additional features such as multi-signature capabilities, access control, transaction batching, and more.