Vitalik Buterin proposes EIP-7702 aiming to refine account abstraction on Ethereum

Vitalik Buterin and a number of developers signed a recent paper proposing EIP-7702 as an alternative to EIP-3074. The new proposal envisions regular Ethereum user addresses, also known as EOAs, temporarily acting as smart contracts for account abstraction.

Vitalik Buterin proposes EIP-7702 aiming to refine account abstraction on Ethereum

Ethereum co-founder Vitalik Buterin, along with Sam Wilson, Ansgar Dietrichs, and Matt Garnett, have written a new proposal for account abstraction on Ethereum. EIP-7702, an alternative to EIP-3074, aims to simplify account abstraction on the Ethereum network.

It proposes that regular user Ethereum addresses, also known as EOAs, temporarily serve as smart contracts, which then revert back to their original state.

According to EIP-3074, which is also discussed to be included in the Pctra update in Ethereum, EIP-7702 is said to have quantum resistance and better compatibility.

EIP-7702 is also said to be better aligned with the ERC-4337 standard, which was created to improve account abstraction in smart contract wallets. “This proposal, which is designed to make account abstraction as easy as possible for the user, also has the same features as EIP-3074,” the article said.

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