1/ 🌟 With the rise of smart contract wallets like the @coinbasewallet smart wallet, understanding ERC-6492 is becoming crucial, and so I wanted to write a quick thread to explain it in a bit more detail. Let's dive in!

The easiest and most secure crypto wallet and dapp browser. Your gateway to getting onchain. /coinbasewallet

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2/ 🤔 The Challenge: One of the cool features of account abstraction (ERC-4337) is deferring contract deployment until you need it. This saves on gas costs while still providing a deterministic address. But here's the catch: how do you Sign In with Ethereum (SIWE) using a contract that isn't deployed yet?

4/ 🛠️ Counterfactual Addresses: Think of these as Schrödinger's Contracts. They're both deployed and not deployed until you open the box (or, in this case, actually deploy them). 

5/ 🔄 How ERC-6492 Works: It wraps signatures with specific data, including the factory address and creation calldata. This enables verification processes to simulate contract deployment and check the signature as if the contract were already live.

6/ 🌐 We predict a lot more smart contract wallets will show up, so understanding standards like EIP-6492 will become increasingly important. It addresses a key issue in ensuring security and efficiency.

7/ 🧠 We really care this topic at @dynamic and already implemented support for ERC-6492. You can see it in action today by following these steps:
1️⃣ Go to https://go.dynamic.xyz/3KeTPoj
2️⃣ Click on Coinbase
3️⃣ Create a new smart wallet
4️⃣ Log in

AA FTW! 🚀


3/ 💡 The Solution: Enter ERC-6492, which introduces a standard way to validate signatures for these pre-deployed contracts. This allows interactions with "counterfactual addresses"—addresses that represent contracts not yet on-chain but will be when needed.