  Ethereum recently unveiled its upcoming roadmap's \textit{Splurge} phase,
highlighting the integration of
EIP-\hlhref{https://eips.ethereum.org/EIPS/eip-3074}{4337} as a foundational
standard for account abstraction (AA). AA aims to enhance user accessibility
and facilitate the expansion of functionalities. Anticipatedly, the deployment
of AA is poised to attract a broad spectrum of new users and ignite further
innovation in DApps. In this paper, we elucidate the underlying operating
mechanisms of this new concept, as well as provide a review of concurrent
advancements in accounts, wallets, and standards related to its development. We
step further by conducting a preliminary security evaluation to qualitatively
assess the extent of security enhancements achieved through AA updates.
