A new opportunity has opened for explorers, builders, and storytellers across Web3.
Ontology is launching a 3-week community writing bounty to spotlight one of the most important shifts happening in blockchain today: the move from Externally Owned Accounts (EOAs) to Smart Accounts through Account Abstraction.
Why Account Abstraction Matters
Since Ethereum’s earliest days, most users have interacted with blockchains through EOAs, simple wallets controlled by private keys. While effective, this model has severe limitations. If you lose your keys, you lose your assets. Features like multi-sig, social recovery, or spending limits require clunky workarounds.
Account Abstraction (AA) is designed to fix this by allowing accounts themselves to act like smart contracts. Instead of rigid EOAs, we gain programmable accounts that can support features such as:
- Gas abstraction (paying fees in tokens other than ETH)
- Social recovery and key rotation
- Batched transactions
- Session keys for dApps and games
- Flexible security models
The EIPs Behind the Shift
Three Ethereum Improvement Proposals (EIPs) have pushed Account Abstraction forward:
- EIP-4337: Often called “Account Abstraction via Entry Point Contract”, this proposal enables Smart Accounts without changing the Ethereum protocol itself. It introduces a higher-level system of UserOperations, bundlers, and a shared entry point contract. EIP-4337 went live in 2023 and is the foundation for many Smart Account wallets today.
- EIP-3074: This proposal allows EOAs to delegate control to a contract using new opcodes. In practice, this could enable existing wallets to gain Smart Account features without fully migrating. While still debated, it is seen as complementary to EIP-4337.
- EIP-7702: Introduced in 2024, this proposal refines the approach by allowing EOAs to temporarily behave like smart contract accounts during a transaction. It is considered a successor to EIP-3074 and could bridge the gap between today’s EOAs and future Smart Accounts in a more flexible way.
Together, these EIPs open the door to Smart Accounts and Smart Wallets, accounts that feel as intuitive as Web2 logins while retaining the sovereignty of Web3.
Smart Accounts and Smart Wallets
Smart Accounts, sometimes called Smart Wallets, represent the next step in blockchain usability. Instead of juggling seed phrases and worrying about a single point of failure, users can enjoy:
- Built-in recovery via trusted guardians or social circles
- Multi-device access without compromising security
- Automated payments and subscriptions
- Richer integrations with dApps and DAOs
In short, Smart Accounts bring Web2 convenience to Web3 security, a change as big as moving from dial-up internet to broadband.
The Writing Bounty
We want to hear from you, the Ontology community. Over the next three weeks, we will run a writing bounty to gather perspectives, explainers, and insights on this shift.
📅 Schedule & Topics
- Week 1: What is Account Abstraction?
- Week 2: What are Smart Accounts?
- Week 3: How Smart Accounts and Account Abstraction fit together
🏆 Rewards
- Prize: $25 in ONG each week
- One winner published weekly on Ontology’s Medium
🔎 Judging Criteria
Submissions will be evaluated based on the following factors:
Presentation: Clear formatting, logical flow, and concise language will strengthen the impact of your article. Visuals such as diagrams or charts are welcome but not required.
Clarity: Articles should be easy to read and well-structured, making complex concepts like Account Abstraction, Smart Accounts, and the relevant EIPs understandable for a broad Web3 audience.
Accuracy: Technical details must be correct, especially when referencing Ethereum proposals such as EIP-4337, EIP-3074, and EIP-7702. Sources should be cited where appropriate.
Creativity: We encourage fresh perspectives, original explanations, and engaging writing styles that stand out from generic technical summaries.
Community Value: Articles should offer insights or practical takeaways that help the community learn, debate, or apply Account Abstraction in real contexts.
Relevance: Submissions should align with the weekly topic and stay focused on Account Abstraction, Smart Accounts, and Smart Wallets rather than drifting into unrelated areas.
🛠️ How to Participate
To join, contact your Head of Community or local Harbinger to be added as a contributor to our Medium publication. Once you have access, you can submit directly to the bounty topics.
Mission Status: Active
Account Abstraction and Smart Accounts are changing how millions will experience Web3. This writing bounty is your chance to not only win rewards but also help shape how our community understands and navigates this transformation.
Stay on mission and bring your best ideas to the page.
Mission Status: Active. Your words can help chart the course of Web3.
