ERC-4337: Driving Web3 Adoption for Wallet, NFTs, Decentralized Social and Beyond

iving Web3 Adoption for Wallet, NFTs, Decentralized Social and Beyond

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ERC-4337: Driving Web3 Adoption for Wallet, NFTs, Decentralized Social and Beyond
By Ryan Li
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Created 2d ago, last updated 2d ago
Op-Ed: From ease of access, lower transaction costs to approachable security features, ERC-4337 can help bring more users to growing corners of the blockchain sector.

ERC-4337: Driving Web3 Adoption for Wallet, NFTs, Decentralized Social and Beyond
Table of Contents
ERC-4337: What it is and why it’s needed
The potential of ERC-4337 in the future of web3
The first wave of NFTs in the summer of 2021 (commonly known as “NFT summer”) can be classified as rigid in function, expensive (both in price tag and due to their skyrocketing gas fees), confusing to obtain, weak in security, and limited in their blockchain of origin — which for the majority of mints were Ethereum.

But after billions of dollars of headline-grabbing sales, viral on-chain communities, congested chains, cost-intensive transactions, lost assets, and relatively limited use cases, change is finally in the air — and not just on one blockchain (Ethereum) or through its traditional token standard (ERC-721). Over the last year and more, our market has watched more blockchains and novel token standards grow to support the next wave of blockchain-powered use cases. Dynamic utility, lower costs, and innovative opportunities for security, access, and adoption have demonstrated promise and possibilities for longevity and adoption over hype. From BNB Chain to Solana and Polygon, SBTs (soulbound tokens) to the token standard covered in this piece — Ethereum’s latest upgrade, the ERC-4337 — the future of NFTs and wallets we store are looking increasingly innovative for developers, users, and web3 overall.

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