"State of Smart Accounts 📊✨" I gave this talk at @zuberlin | 0xKofi on Binance Square

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"State of Smart Accounts 📊✨"
I gave this talk at @zuberlin yesterday. Shared the latest trends in smart account adoption data and predictions on what comes next.
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Metamask have added a button to the UI that makes it easy to upgrade to a smart account (using EIP-7702) The smart account revolution is just getting started. Ethereum UX is about to get really good really fast.

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Last week, 150,853 EIP-7702 smart accounts made an onchain action. ~67% of these accounts were authorizing a criminal contract designed to drain their funds at time of txn. Huge thanks to the @wintermute_t research team for their work labelling criminal contracts. The four types of actions a 7702 account can make are - ERC-4337 UserOps: Actions done using ERC-4337 UserOperations - Self-initiated txns: Transactions where the smart account runs its own code - Relayed actions: Actions initiated by a third-party wallet that calls the smart account's code (without using 4337) - EOA txns: Regular transactions where the smart account didn't use its code

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Follow @Adam_Tehc and @JDHyper for data-driven insights into the degen trenches In the past week, every time I've searched for a launchpad or trading platform on @Dune their names have popped up first. Hard workers.

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More than 1,000,000 wallets upgraded to smart accounts using EIP-7702 last month. We hit that milestone way faster than I expected. Sadly, 99% of those upgrades were hackers converting wallets with previously leaked private keys. They programmed these accounts to automatically transfer stolen funds to them. I still believe millions of regular users will upgrade their wallets this year. Hackers jumped on 7702 quickly because smart account features like automatic actions and bundled txns help them steal faster. But wallet companies are moving slowly because: - They have to be absolutely perfect with security. If the 7702 account code of a major wallet gets hacked, it would be devastating - Adding 7702 upgrades would make their apps 10X better for users, but it won't directly increase revenue

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This weekend, more than a million wallets authorised these contracts using EIP-7702. Does anyone know who they belong to? They are not verified on etherscan 0x1ee8e3b6ca95606e21be70cff6a0bd24c134b96f - on Base 0xcefd060da801a3f004d6b307f4cab943d1c9b45b - on Optimism

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