Account Abstraction and VISA — the Key to Innovating Blockchain Payment System
by Despread, DeSpread
Disclaimer: The authors of this report did not purchase or sell any of the relevant tokens using material non-public information during the research or drafting of this report. The contents of each report reflect the opinions of the respective authors and are provided for informational purposes only and are not intended to be a recommendation to buy or sell any token or use any protocol. Nothing contained in this report is investment advice and should not be construed as such.
What is Account Abstaction?
EOA & CA
- UserOperations created by a user through an ERC-4337 compliant wallet are sent to the UserOperations mempool.
- Bundler creates a bundle transaction by bundling multiple UserOperations.
- Submits the bundle transaction to the EntryPoint.
- (Optional) Validate UserOperations after calling the Paymaster contract.
- EntryPoint verifies and executes each UserOperation.
Account Abstraction & VISA
1. Paymaster — Gas Fee Payments with ERC-20 Tokens
2. Paymaster — Gas Fee Support
- Universal Payment: A project by Uniswap team that allows users to deposit funds into paymaster and provide a portion of the funds as liquidity in Uniswap or other applications.
- Daypass Payment: A paymaster which offers NFTs to users so that only the holders of those NFTs can receive gas subsidies.