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What is a smart wallet ?
The default account type on blockchain networks using the Ethereum Virtual Machine (EVM) is the Externally Owned Account (EOA). EOAs are controlled by private keys, and users must securely manage these keys to ensure the safety of their assets. In addition, interacting with the blockchain using EOAs involves dealing with gas fees for transactions, which can be a hurdle for new users unfamiliar with the concept.
Account abstraction rely on the concept of Smart Wallets. Smart Wallets are simply wallets made with smart contract where features provided by traditional wallet can be extended. Among the main advantages of Smart Wallets we can find Recovery mechanisms, Gas abstraction, Spending policies and defined permissions.
Cometh Connect is smart-wallet-as-a-service.
Cometh Connect simplifies how a user interacts with the blockchain and drastically improves the onboarding experience, going as far as completely abstracting wallets from users while using non-custodial solutions — offering a web2-like experience within web3.
Cometh Connect allows users to create and manage their wallets with nothing else than their biometrics, safely secured on their device’s secure enclaves (smartphones, laptops…). Cometh Connect also enables sponsored transactions, allowing dApps to handle users’ transaction fees, completely abstracting the concept of gas for daily users. Essentially, end-users won’t need to pay gas fees on their favorite dApps, ever.
At the foundation of its architecture, Cometh Connect utilizes the Gnosis Safe smart contract wallet, renowned as the gold standard in the industry. Cometh Connect is available on all networks where the Gnosis Safe Factory is deployed (most EVM chains today). Gnosis Safe is currently the most widely used smart contract wallet on the EVM and safeguards over 40 billion dollars in capital. Having undergone rigorous audits and extensive testing in production, Safes have become the go-to smart contract wallets. However, they can be challenging for newcomers to use and may lack composability and versatility. Cometh Connect enhances the Safe by incorporating numerous features through its own SDK and dedicated APIs :
- Biometric signers : create and use your wallet with nothing else than your fingerprints or your FaceID. The end of private keys.
- Multiple devices : control your wallet from several devices
- Account Recovery : recover your wallet in case of loss of your device
- Gasless transaction: transaction fees are taken care of by the dApp, leaving users oblivious to gas & gas fees.
Last modified 2mo ago