A smart contract wallet is an app acting as a Web3 wallet using a technology called account abstraction in place of externally owned accounts (EOAs).
Smart contract wallets are self-executing, scripted agreements that automatically enforce the terms of the agreement, providing users with more power and security than traditional wallets.
Smart contract wallets are considered decentralized applications (DApps) as they are built on a blockchain and enable users to manage their digital assets using smart contract technology. These wallets provide users a means to keep crypto assets in self-custody. Moreover, they facilitate functions like bundled transactions, the ability to pay gas fees in a different token, customizable recovery options and more.
