Exploring Innovative Smart Contract Wallets
If you’ve navigated the current web3 landscape, you’re likely well aware of its inherent challenges—maneuvering through the approval and confirmation of transactions from your coin wallet, juggling diverse tokens to cover gas fees across various blockchains, grappling with lengthy and complex wallet addresses, and the constant concern of potential fund loss if your seed phrase goes missing. This is where smart contract wallets comes into the picture, promising to relegate these issues to the past.
In this article, we will be looking at some of the smart contract wallets and how their potentials can solve these challenges.
Argent Crypto Wallet
Argent is a recently developed smart contract wallet on the Ethereum network, currently only supporting Ethereum coins. It is seamlessly integrated with Starknet and zkSync. What sets Argent apart is its provision of readable addresses through Starknet ID, coupled with an innovative third-party recovery system via the “guardians” program. Departing from the conventional reliance on a seed phrase, users can designate one or more wallet addresses as their “guardians,” enabling a robust recovery mechanism in case of lost wallet access. In scenarios where multiple “guardians” are assigned, a majority vote from trusted wallets becomes the prerequisite for recovery approval.
Argent also introduces a noteworthy feature known as ‘batched transactions.’ This functionality allows users to streamline processes, saving both gas fees and time. Consider the common scenario of providing liquidity on Uniswap pools—typically involving the payment of gas fees and the confirmation of three separate transactions. Argent simplifies this by consolidating all three transactions into a single batched transaction. Consequently, users only incur gas fees and await confirmation for a singular transaction that accomplishes the entire process efficiently.
Plena Finance Wallet
Plena Finance stands as a comprehensive solution for mobile wallet users, with robust support for major EVM chains including Polygon, BSC, Avalanche, and Fantom. Setting itself apart with user-centric features, Plena Finance offers a seamless experience for wallet recovery by allowing users to create their smart wallets through third-party logins such as Google, Facebook, or Twitter.
An innovative highlight of Plena’s offerings is the free Naming Service, which fundamentally transforms the user experience. This service enables users to engage in chats and receive funds from fellow Plena users using simple and intuitive Plena names, eliminating the need for the cumbersome and intricate ‘Ox’ wallet addresses that have become all too familiar.
Moreover, Plena Finance takes a step further in enhancing user ease with its support for batch transactions. This feature enhances efficiency by merging multiple transactions into a single batch, reducing both gas fees and processing time. The platform also caters to user flexibility by allowing the use of various tokens for paying gas, providing a personalized and versatile experience.
Additionally, Plena Finance recognizes the importance of streamlining frequent or recurring transactions and introduces a pre-approval feature for selected decentralized applications (dApps). This not only adds an extra layer of user control but also ensures a smoother and more efficient engagement with preferred dApps.
In essence, Plena Finance emerges as a comprehensive mobile wallet solution, offering a user-friendly interface, innovative naming services, batch transaction capabilities, and a range of features that enhance flexibility and control for users navigating the dynamic landscape of EVM chains.
Ambire Crypto Wallet
Ambire redefines the smart contract wallet experience by offering users the versatility to create wallets from various sources, be it through an email address, existing Web3 wallets like Metamask, or hardware wallets such as Trezor and Ledger. Notably, the email option introduces a secure recovery method, eliminating the need for a traditional seed phrase.
Ambire currently supports a diverse range of over 10 EVM networks, including Ethereum, Avalanche, Polygon, Arbitrum, and Optimism. The Gas Tank feature amplifies user flexibility by enabling gas fees to be paid in any ERC-20 token across supported blockchains. This groundbreaking functionality allows users to deposit tokens like USDC on Optimism and utilize them seamlessly for gas payments on the Ethereum network.
Enhancing security measures, Ambire provides users with the option to fortify their wallets through two-factor authentication. For those seeking an extra layer of security, the inclusion of a separate hardware wallet as a signer key offers an added guarantee in verifying transactions.
Ambire’s accessibility is not confined to a single platform, as it caters to users on both web and mobile. The web-based version seamlessly integrates with browsers, providing a comprehensive and user-friendly interface. Also, Ambire extends its reach to mobile users through a dedicated app available on both the App Store and Google Play.
In essence, Ambire emerges as a multifaceted smart contract wallet solution, leveraging various creation methods, supporting a multitude of EVM networks, pioneering flexible gas fee payments, and prioritizing security features. Whether accessed through web browsers or mobile applications, it stands as a robust and flexible choice for users steering the dynamic landscape of blockchain technology.
Avocado Crypto Wallet
Avocado stands out among its smart contract wallet counterparts by introducing innovative features like network and gas abstraction, redefining user interactions within the blockchain space. While conventional wallets like MetaMask require users to switch between different networks when executing actions across various platforms, Avocado takes a different approach.
With network abstraction, Avocado seamlessly integrates with pre-existing wallets, such as MetaMask, through WalletConnect. Users can effortlessly connect to the Avocado network, gaining a combined view of their balances across diverse networks. The unique advantage is that users can conduct transactions without the hassle of regularly switching networks, streamlining their experience.
Adding to its list of features, Avocado serves as a dynamic “gas station.” Users enjoy the convenience of utilizing USDC as the universal gas token for transactions across all networks supported by Avocado. This eliminates the need for managing different gas tokens and simplifies the transaction process.
Avocado’s commitment to enhancing user experience extends into future developments. The platform aims to introduce additional features, including the ability to batch smart contract actions, implement social recovery mechanisms, and provide a gasless transaction experience. This forward-thinking approach positions Avocado as a platform continually evolving to meet the growing needs of its users.
Apart from Ethereum, Avocado boasts compatibility with a broad spectrum of EVM blockchains and Ethereum Layer 2 solutions. This inclusive approach ensures users can leverage Avocado across a variety of blockchain ecosystems.
To round this up, Avocado emerges as a dynamic smart contract wallet, not only simplifying network transitions and standardizing gas payments but also showcasing a commitment to ongoing innovation and user-centric improvements.
Safe Crypto Wallet
Previously regarded as ‘Gnosis Safe’, Safe is a wallet that is made for organizations. Safe stands as a distinguished multi-signature wallet operating seamlessly across a diverse array of 12 networks, including prominent ones like Ethereum, Polygon, Arbitrum, and Optimism. This robust wallet has garnered recognition from major industry players such as Aave, Polygon, Stripe, and the notable figure, Vitalik Buterin.
At its core, Safe offers organizations a powerful solution by enabling the creation of smart contract wallets owned by multiple entities and a minimum of owners required to confirm a transaction. This strategic approach removes the risk of a single point of failure, as transactions from the multi-signature wallet requires confirmations from the majority of owners, ensuring a robust and secure process.
Beyond its fundamental multi-signature functionality, Safe has an array of features designed to empower users. It allows organizations to customize existing wallet ownership by effortlessly adding or removing owners, providing a dynamic and adaptable ownership structure.
Among Safe’s standout capabilities is its support for Account Abstraction features such as batched transactions, Sponsored Transactions, Account recovery, Fraud Monitoring and Spending Policies. Owners can exercise granular control over the wallet’s operations by setting specific spending limits for each individual associated with the wallet. The flexibility extends further, allowing owners to establish either a one-time spending allowance or a recurring spending allowance that automatically reloads after a definite period of time.
Safe develops as more than just a multi-signature wallet; it is a comprehensive solution tailored for organizational needs, offering security, customization, and advanced control over financial transactions. Its widespread network compatibility and adoption by key industry players underscore its credibility and effectiveness in the ever-evolving landscape of blockchain technology.
Sequence Crypto Wallet
Sequence is a wallet developed for Web3 gaming. It redefines the user experience by offering multiple sign-in options, including email, Google, and Facebook, providing a unified onboarding process. With compatibility across nine EVM networks such as Ethereum, Polygon, Optimism, Arbitrum, and Base, Sequence positions itself as a versatile wallet catering to a diverse range of blockchain ecosystems.
One of Sequence’s distinctive features is its flexibility in gas payments. Users can conveniently pay gas fees on any supported network using various tokens, including ETH, WETH, MATIC, USDC, and DAI, boosting suitability and accessibility for transaction settlements.
Beyond its transactional capabilities, Sequence demonstrates robust support for various types of NFTs. The wallet not only accommodates these digital assets but also offers an immersive experience by displaying the associated artwork and metadata. This feature proves particularly beneficial for Web3 gamers seeking a comprehensive overview of their NFT collections.
A noteworthy aspect of Sequence is its commitment to supporting developers and enhancing user affordability. Game or dApp developers can collaborate with Sequence to sponsor transactions, relieving users from the burden of gas fees. This strategic approach not only fosters user engagement but also potentially saves users money, especially in scenarios where their favorite Web3 game sponsors transactions via Sequence.
While Sequence is currently accessible through a Web wallet and a browser extension for Google Chrome, it is worth noting that a mobile app is not available. However, Sequence reassures users that the web wallet functions seamlessly on mobile web browsers.
In summary, Sequence serves as a comprehensive blockchain wallet, emphasizing user-friendly features, broad EVM network compatibility, and innovative solutions for NFT management and transaction affordability. Whether engaging through a web browser or browser extension, users can expect a versatile and immersive experience with Sequence.There are several other smart contract wallets including: Castle, Dfns, Candide, Unipass, Soul Wallet, Stackup etc.
