Leading Web3 technology company, OKX, announced the launch of an account abstraction-powered Smart Account feature on its OKX Wallet. This feature will enable users to pay for transactions on multiple blockchains using USDT or USDC. OKX Wallet, one of the first in Web3 with multi-chain account abstraction support, enhances user experience by facilitating multiple contract interactions in a single transaction.
This transformative feature simplifies the complexities of blockchain transactions, enabling users to bypass technical jargon such as 'gas fees' and 'Gwei.' With the Smart Account, users can execute token swaps or trades in a single click. In addition, the wallet offers options for users to pay gas fees on supported chains using USDC and USDT. It also allows gasless transactions if third-party dApps opt to sponsor user on-chain interactions.
The Smart Account combines multiple stages of the swap and staking process into one, facilitating seamless token exchanges and earning interest by staking crypto with just one click. Presently, the OKX Wallet supports account abstraction technology on seven blockchains, including Ethereum, Polygon, Arbitrum, Optimism, BNB Chain, Avalanche, and OKT Chain.
By leveraging multi-party computation (MPC) technology across 37 blockchains, the wallet eradicates the need for traditional written down keys and seed phrases, thereby greatly enhancing security. The Smart Account feature represents a crucial step towards providing an accessible, secure, and powerful Web3 gateway.
