- ERC-4337 is used for transmitting messages within Ethereum’s ecosystem and the Web3 space.
- ERC-4337 allows the user to perform a set of functions within Ethereum’s ecosystem.
The blockchain industry has made remarkable progress in the past couple of years. Among these advancements, ERC-4337 has garnered significant attention from individuals as a Web3 messaging protocol.
What is ERC-4337?
ERC-4337 was introduced by Vitalik Buterin, the co-founder of Ethereum, and a few other developers. It was aimed as a solution for account abstraction and was launched in March 2023 on Ethereum’s Mainnet, marking a significant step towards the platform’s evolution.
The ERC-4337 protocol serves as a standardised solution for accelerating the exchange of messages on Ethereum’s blockchain network.
Its primary objective is to establish and facilitate communication channels between multiple entities operating within Ethereum’s ecosystem, this includes dApps, smart contracts, and other decentralised applications.
The protocol configures the network with a set of pre-determined functions and events. These events and functions allow the transmission and reception of messages in a neatly formatted structure.
ERC-4337 protocol plays a vital role in Web3 messaging, as it simplifies communication within Ethereum’s network and fosters interoperability and collaboration within the ecosystem.
What is Web3 Messaging?
Web3 refers to a new-age innovative way of communication that uses messaging protocols within decentralised applications. Messages in this context cannot be intercepted or leaked, as they are not stored on a central server.
Through the utilisation of the ERC-4337 protocol, decentralised entities such as decentralised apps and smart contracts can communicate with uniformity, promoting interoperability and collaboration within Ethereum’s ecosystem. This approach sets the stage for advancements in innovation and the creation of revolutionary projects.
Working of ERC-4337
ERC-4337 protocol employs a set of functions for transferring messages between smart contracts and other entities in Ethereum’s ecosystem. These functions are:
- Send: The send function is used for the transfer of a message to the specific receiver.
- Broadcast: This function is responsible for the dispersion of the information with all the participants within the network.
- Subscribe: Users can use this function to subscribe to any topic.
- Unsubscribe: With this function, users can unsubscribe to any subscribed topic.
Apart from the above functions, ERC-4337 is also capable of triggering a chain of events whenever a message is sent or received. These functions are:
- MessageSent: This function tells that the message has successfully been dispatched from the sender’s end.
- MessageReceived: This means that the message has successfully been received by the intended recipient.
These messages are designed by using a JSON format. It consists of a topic field, a time stamp, and a data field. The topic field classifies the data into categories, while the data field accommodates any type of data supported on JSON.
Account abstraction and ERC-4337
Account abstraction is a concept that is responsible for enhancing the user experience as well as strengthening the security of smart contracts without changing the blockchain’s consensus mechanism. Account abstraction allows the use of externally owned accounts (EOA) and smart contracts account (SCA), in a single account.
Externally owned accounts initiate transactions, and smart contract accounts execute transactions with the help of code as soon as they receive a transaction from the EOA.
The concept of account abstraction is tasked with simplifying the user experience, wallet design, social recovery and customization, and bringing functions of smart contracts to wallets.
Conclusion
ERC-4337, the Web3 messaging protocol introduced on Ethereum’s Mainnet, has played a significant role in accelerating communication within the blockchain ecosystem. Its standardised functions and events enable efficient message transmission between decentralised entities, fostering interoperability and collaboration. With the concept of account abstraction, it enhances user experience, wallet design, and smart contract functionalities in wallets, paving the way for further innovations in the blockchain industry.
