Pectra Changed Account Abstraction

EIP 3074 in Pectra changed everything overnight. Smart wallets went from experimental to suddenly being everywhere. The permission model is powerful but also kind of scary.

Wallets now work like normal apps. Social recovery if you forget your keys. No more needing ETH for gas. Batch transactions for efficiency. It just works the way people expect software to work.

Permission delegation is where it gets interesting. Your wallet can authorize contracts to act for you with specific limits. Let a DeFi protocol trade within certain parameters. Let an NFT platform mint from specific collections. Your private key never gets exposed.

It works through these things called invokers. Special contracts that do things on your behalf when you authorize them. Like giving someone limited access to your bank account but for crypto.

The security model completely changed though. Instead of protecting one key, you're managing this web of permissions. Revocation is critical. Time limits are essential. One bad authorization could drain everything.

We traded simplicity for flexibility and I'm not sure everyone understands the implications yet.