According to Blockworks, developers can now build social logins into blockchain applications more easily, thanks to a partnership between smart contract wallet Safe and Web3Auth. The collaboration has resulted in SafeAuth, a tool that combines Web3Auth's social login technology with Safe's Account Abstraction software development kit (SDK). Smart accounts, introduced through the ERC-4337 standard, aim to enhance the overall Ethereum user experience by offering more intuitive and customizable crypto wallets.
SafeAuth allows users to set up smart wallets using their existing email addresses, eliminating the need for lengthy seed phrases. These smart accounts will also be interoperable, enabling users to link and interact with various blockchain applications through a single smart account. Although the ERC-4337 standard was deployed to the Ethereum mainnet in March, adoption has been slow, with weekly retention of smart wallets using ERC-4337 dropping to as low as 1% for accounts older than five weeks.
Lukas Schor, a Safe co-founder, believes that the slow adoption is not surprising, as it often takes longer than expected for new technologies to gain traction. He also mentioned that the ERC-4337 standard is still in 'draft mode,' with occasional changes making it difficult for in-production solutions to adopt it. Despite the slow adoption, Tobias Schubotz, Safe's product lead, remains optimistic about the future of smart accounts. He revealed that Safe has experienced a 201% increase in monthly average users, now totaling over 376,000. Schubotz believes that developer tools like SafeAuth can help increase the adoption of smart account standards such as ERC-4337.
Joy