- Obvious not too long ago launched an EIP-4337-based Smart contract wallet on the Ethereum ecosystem powered by Biconomy Account Abstraction Stack.
- With the Obvious Smart wallet, users can pay gas fees utilizing any (ERC-20) token of their choice, and approve & signal transactions in a single click on.
- Obvious Smart wallet is a Smart contract wallet that relies on a Smart contract as a substitute of private and non-private key pairs just like the previous EOA wallets. This supplies extra customizations for wallet users.
BENGALURU, India, Aug. 9, 2023 /PRNewswire/ — Obvious, a mobile-based, multichain sensible contract wallet is happy to announce the launch of an Account Abstraction-based Smart Contract wallet powered by Biconomy Account Abstraction Stack. Smart contract wallets are blockchain wallets that use the functionalities of Smart contracts on the blockchain.
Conventional wallets or EOA wallets use personal keys, permitting users to entry and handle their funds. In distinction, sensible contract wallets add an extra layer of performance by integrating programmable logic. This logic permits for the automation of transactions, the implementation of personalized guidelines, and the facilitation of advanced monetary interactions.
Obvious is one of the primary wallets to use the brand new expertise made potential by EIP-4337 and convey a sensible contract wallet to a number of chains on the Ethereum ecosystem. For the reason that launch of its wallet in Could, greater than 10,000 wallets have been created on the Obvious app.
What’s EIP-4337 and its significance?
EIP-4337 is an enchancment proposal handed by the Ethereum group that enables the advantages of Account Abstraction with out altering the consensus layer. This enables anybody to create contract accounts on Ethereum.
Accounts created utilizing Account Abstraction are referred to as sensible Contract wallets. They supply larger safety and adaptability to users as they’re based mostly on a sensible contract somewhat than a personal key and are made potential by the ERC-4337 protocol. This supplies enhanced safety and customizations, as the chance of personal key publicity reduces.
With its new sensible contract wallet, Obvious has enabled ‘Pay Any’ as a core characteristic. This enables users to pay blockchain transaction fees referred to as ‘gas fees’ in a token of their choice. This eliminates the inconvenience confronted by many users when transacting on crypto wallets as transactions typically get blocked due to inadequate stability of tokens wanted to full the transaction.
Obvious is committing to a number of client focussed options for its sensible contract roadmap in 2023. Pradeep BV, CPO and Co-founder of Obvious mentioned, “Smart contract wallets deliver us shut to fashionable financial institution accounts, in truth, a step forward. The power to customise the wallet based mostly on consumer wants is basically thrilling. Some of the options that are anticipated to be launched embrace setting spending limits, 2FA on transactions, the power to batch transactions, and help for extra chains in the EVM ecosystem.“
Himanshu Retarekar, CEO and Co-founder of Obvious added, “At Obvious we’re dedicated to bringing one of the best consumer expertise for everybody on the blockchain. Account Abstraction has the potential to massively simplify the consumer expertise for folks in crypto and blockchain and assist onboard thousands and thousands to the ecosystem. We’re excited to be one of the primary ones to energy this motion, particularly on mobile. We’re simply getting began, and there may be a lot extra to come from Obvious in the long run.Biconomy has been a actually nice associate for us in this endeavor. “
About Obvious
Obvious is a mobile-based self-custody wallet that brings collectively belongings throughout EVM & non-EVM chains and powers your cross-chain transactions by offering you protected, quick, and reasonably priced bridging & swapping routes throughout the app. Obvious Wallet is one of one of the best apps on the market for your multi-chain expertise with its distinctive consumer expertise and a wide selection of options in its mobile app. Obvious is mobile-first and is designed for experiencing crypto on the go. Launched in January 2023 by a group of ex Yahoo, Flipkart, Ola, Swiggy, Seize executives, Obvious (https://obvious.technology) is out there to users worldwide on the app retailer and play retailer and has users from 100+ nations, utilizing the Obvious app for their wallet wants.
Concerning the government group:
Himanshu Retarekar | Co-founder, CEO | [email protected]
Himanshu is a serial entrepreneur, with 14+ years of Engineering expertise main engineering groups on the high startups throughout India. His final stint was as VP of Engineering at Freight Tiger. Prior to that, he was the Director of Engineering at Ola for client apps. He has had a number of entrepreneurial stints and offered his final startup to Ola.
Ex – Freight Tiger, Olacabs, Citrix
https://twitter.com/hretarekar | https://www.linkedin.com/in/hretarekar/
Jebu Ittiachen | Co-founder, CTO | [email protected]
Jebu leads all issues tech at Obvious. He has been a serial tech entrepreneur and has 25+ years of expertise in tech. He has labored at major tech firms in numerous roles. He was additionally the Architect at Ola cabs and Chief Architect at Freight tiger earlier than beginning Obvious. He has substantial expertise in the crypto house and understands blockchain at a basic degree.
Ex – Freight Tiger, Olacabs, Yahoo, Infosys
https://twitter.com/jebui | https://www.linkedin.com/in/jebuittiachen/
Pradeep Banavara | Co-founder, CPO | [email protected]
Pradeep leads all issues product and group at Obvious. He has been a serial entrepreneur and has 20+ years of expertise in product, technique & development. Pradeep has led product groups at high startups throughout India and South East Asia, most not too long ago at Swiggy. He has additionally began up a number of ventures and has a deep understanding of constructing client apps for billions of folks.
Ex – Swiggy, Seize, Olacabs, Flipkart, Yahoo
https://twitter.com/pradeepbv | https://www.linkedin.com/in/pradeepbv/
Extra Info
https://www.obvious.technology/blogs/best-smart-contract-wallet-for-ethereum-ecosystem
Contact:
Aayush Mittal,
Obvious
[email protected]
Photograph: https://mma.prnewswire.com/media/2169061/Obvious.jpg
SOURCE Obvious