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Smart Wallets and Steer Cloud Services

Understanding Smart Wallets​

Smart wallets, also known as Smart Contract Accounts (SCAs) or Smart Accounts (SAs), are programmable wallets designed for advanced interactions within the web3 space. Unlike traditional Externally Owned Accounts (EOAs), smart wallets are built differently:

  • They are smart contracts (code) immutably linked to the blockchain
  • They include an address key
  • They can perform complex functions leveraging Account Abstraction (AA)

Key Features of SCAs​

  1. Enhanced Functionality: Enable advanced product features such as:

    • Gas fee savings
    • Paying fees in stablecoins or other tokens
    • Transaction batching
    • Account/social recovery
    • Multisig management

  2. Ecosystem Integration: Facilitate EVM ecosystem integrations through plug-ins and SDKs

  3. Deployment Requirements: Need initial funds for on-chain deployment

  4. Flexibility: Contract account functionality is combined with user interfaces to create versatile crypto management tools

  5. Security and Privacy: Support multiple signer functions, allowing integration with hardware wallets or other account types for enhanced security and privacy

Steer Cloud Services and Smart Wallets​

Steer Cloud is pioneering the next generation of smart wallets by introducing the critical compute layer. Our cloud services empower smart wallets with advanced functionality, allowing users to install wApps (wallet applications) and leverage Steer Cloud nodes to execute these apps seamlessly.

These wApps can do -

  • Buying and selling assets
  • Dollar cost averaging
  • Executing general operational transactions
  • Monitoring funds and doing action needed
  • And much more!

Building Smart Wallet Apps with wApp Kit​

Developers can easily create smart wallet applications using wApp Kit, which includes:

  • SDK
  • CLI
  • Plugins

These tools facilitate the development of smart wallet apps that can be installed into EIP-6900 compatible Smart Wallets.

Benefits of Smart Wallets with Steer Cloud Services​

  1. Automation: Streamline repetitive tasks and complex operations
  2. Customization: Tailor wallet functionality to specific user needs
  3. Enhanced User Experience: Simplify interactions with web3 applications
  4. Improved Security: Leverage advanced security features and multi-signature capabilities
  5. Scalability: Easily integrate with evolving blockchain ecosystems and services

Conclusion​

Smart wallets represent a significant advancement in blockchain interaction, offering enhanced functionality, security, and user experience. When combined with Steer's cloud services and wApp Kit, they provide a powerful toolset for users and developers to create sophisticated, automated, and secure blockchain applications.