• OKX, a leading Web 3.0 technology company, has launched a new account abstraction-powered Smart Account feature on its OKX Wallet.
• This enables users to pay for transactions on multiple blockchains using USDC or USDT and will soon launch additional features, including social recovery capabilities.
• The Smart Account feature simplifies some of the complexities of blockchain transactions, reducing the number of steps required to complete a token swap or trade to just one click.
OKX Launches Account Abstraction-Powered ‘Smart Account’ Feature
OKX , a leading Web 3.0 technology company, today announced the launch of a new account abstraction-powered Smart Account feature on its OKX Wallet , enabling users to pay for transactions on multiple blockchains using USDC or USDT.
Additional Features To Be Rolled Out
Additional account abstraction capabilities, including a social recovery feature, will be rolled out at a later date. This will enable users to select trusted ‘guardians’ from their social network to help them recover their Smart Account if they lose their keys.
Multi-Chain Interaction Capabilities Enabled
OKX Wallet is one of the first wallets in Web 3.0 with multi-chain account abstraction support. With Smart Account, users can now interact with multiple contracts in a single transaction which enhances composability and creates an intuitive and user-friendly wallet experience.
Simplifying Crypto Transactions
Account abstraction simplifies crypto transactions by enabling the creation of Web 3.0 wallet accounts that conceal the more technical details of their on-chain interactions behind a more accessible and user-centric interface. This is achieved by combining users’ smart contracts and EOAs (externally owned accounts) into a single ‘smart’ account, providing a more unified Web 3.0 experience. The Smart Account feature also reduces the number of steps required to complete token swaps or trades down to just one click making it much easier for nontechnical users to access blockchain services and tokens without needing any previous understanding or instruction in how blockchain works or functions under the hood..
Haider Rafique On The Launch
Haider Rafique, chief marketing officer at OKX said: “We promised our customers an accessible gateway into Web 3 technologies – this latest development is another step toward fulfilling that promise.”