OKX Wallet, a leading Web3 technology company, has unveiled its new Smart Account feature on the OKX Wallet platform. This feature utilizes account abstraction technology to enable users to pay for transactions on multiple blockchains using USDC or USDT stablecoins. With this innovation, OKX Wallet aims to provide a more user-friendly and intuitive experience for both advanced users and beginners.
The Smart Account feature allows users to interact with multiple contracts in a single transaction, enhancing composability and convenience. It simplifies the complexities of blockchain transactions by reducing the number of steps required to complete tasks such as token swaps or trades. One of the major pain points for users is navigating the complex transaction process and deciphering technical terms like “gas fees” and “Gwei.” Smart Account addresses this issue by enabling users to complete transactions with just one click.
In addition to the Smart Account feature, OKX Wallet will soon introduce social recovery functionality. This will allow users to select trusted individuals from their social network as “guardians” who can help them recover their Smart Account if they lose their keys. This feature adds an extra layer of security and peace of mind for users.
OKX Wallet is one of the first wallets in the Web3 ecosystem to support multi-chain account abstraction. Currently, it supports account abstraction technology on seven blockchains, including Ethereum, Polygon, Arbitrum, Optimism, BNB Chain, Avalanche, and OKT Chain. Furthermore, OKX Wallet utilizes multi-party computation (MPC) technology across 37 blockchains, enhancing security by eliminating the need for traditional written-down keys and seed phrases.
The Smart Account feature also brings several benefits to users. They can pay for gas fees on any supported chain using USDC and USDT stablecoins, eliminating the need for native tokens of individual chains. Additionally, token swaps and staking are simplified, as multiple stages of the process are combined into a single step. Users can easily exchange tokens and earn interest by staking crypto with just one click.
OKX Wallet’s commitment to security and interoperability is evident in its support for over 60 cross-chains and its use of MPC technology. The company aims to provide the most accessible, secure, and powerful Web3 gateway for its users. With the launch of the Smart Account feature, OKX Wallet continues to push the boundaries of Web3 adoption and create new use cases and experiences.
As OKX Chief Innovation Officer Jason Lau stated, “Account abstraction technology is a game-changer for the broader adoption of Web3 and enables new use cases and user experiences.” OKX Wallet is excited to continue building on top of this feature and provide its users with the best possible Web3 experience.
Please note: This article is for educational and informational purposes only and should not be considered as financial or investment advice.
