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Introduction

Why is Transeptor Needed?​

More applications are being built on the Ethereum ecosystem, expanding its reach. But, this growth has made it more complex for users to manage their EOA (Externally Owned Accounts). A new proposal called ERC-4337 aims to simplify this process by allowing users to use smart contract wallets instead of EOAs.

One crucial component of the ERC-4337 is Bundlers, which are the infrastructure of Account Abstraction. The ERC-4337 Bundler ecosystem needs bundler diversity and the ability to allow any actor to participate in the bundling process. We are supporting the development of an ERC-4337 bundler to increase bundler diversity in the ERC-4337 ecosystem.

Why client diversity is important​

Bundler nodes that participate in the bundling of UserOperation need access to a diverse set of Bundler implementations. Having multiple Bundler options helps to increase the security, stability, and overall health of the account abstraction layer by reducing the risk of a single point of failure. If too many participants use the same Bundler implementation, it could lead to a centralization of the network, creating an attack vector for malicious actors. In a scenario where a single bundler implementation is processing the majority of the network's userOps, malicious actors could target known vulnerabilities in that implementation to disrupt the network, or a critical bug could lead to a network halt.

What is ERC-4337​

ERC-4337 is a higher-layer infrastructure for Ethereum to allow account abstraction. This will enable users to use a smart contract account as the primary account to handle all network interactions. ERC-4337 introduces a new transaction called a UserOperation. Users will send signed UserOperations to a network of nodes called bundlers. Bundlers act as proxy bundling multiple userOps single transactions sending to Entrypoint smart contract to execute users' actions. ERC-4337 also introduces paymaster smart contracts to allow transaction sponsorship. With Paymaster, users have gasless transactions or pay gas fees with ERC-20 tokens.