Flash News: OKX Recognized by the Core ERC-4337 Team for its Account Abstraction Open Source Bundler, Advancing ERC4337 Revolution
SINGAPORE, Dec. 07, 2023 (GLOBE NEWSWIRE) — OKX, a leading Web3 technology company, has issued updates for December 7, 2023.
OKX Recognized by the Core ERC-4337 Team for its Account Abstraction Open Source Bundler, Advancing ERC4337 Revolution
OKX today announced that its open source technological contributions to Account Abstraction (AA) technology were recognized by the Ethereum Foundation’s 4337 team on the ERC4337 website and made available to developers around the world.
To date, OKX’s AA code is the only open source repository that is written in Java, enriching the coding languages able to support ERC4337 and further distributing the standard to a wider ecosystem of organizations and users. The OKX bundler, or technical infrastructure which allows AA to work on any EVM network, is named ‘Okbund’ and is available here.
Account Abstraction simplifies crypto transactions by enabling the creation of Web3 wallet accounts that conceal the more technical details of their on-chain interactions behind a more accessible and user-centric interface. This allows, among other things, for gas fees to be paid by any ERC-20 token, lowering technical hurdles for new users and improving the user experience.
Bundlers are special nodes which enable account abstraction by consolidating user operations from multiple senders into a single transaction so they can be executed on a blockchain. Open source bundlers like OKX’s ‘Okbund’ help to set standards for how the industry puts this technology into practice and ultimately support widespread adoption.
In August 2023, OKX launched its Smart Account feature, an Account Abstraction-powered feature that enables users to pay for transactions on multiple blockchains using USDC or USDT. As one of the first Web3 wallets with multi-chain account abstraction powered features, this creates a more user-friendly and intuitive wallet experience.
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About OKX
OKX is a leading global crypto exchange and innovative Web3 company. Trusted by more than 50 million global users, OKX is known for being one of the fastest and most reliable crypto apps in the world.
As a top partner of English Premier League champions Manchester City FC, McLaren Formula 1, Olympian Scotty James, and F1 driver Daniel Ricciardo, OKX aims to supercharge the fan experience with new engagement opportunities. OKX is also the top partner of the Tribeca Festival as part of an initiative to bring more creators into web3.
The OKX Wallet is the platform’s latest offering for people looking to explore the world of NFTs and the metaverse while trading GameFi and DeFi tokens.
OKX is committed to transparency and security and publishes its Proof of Reserves on a monthly basis.
To learn more about OKX, download our app or visit: okx.com
