Ethereum co-creator Vitalik Buterin has proposed a collaborative idea aimed at enhancing account abstraction for standard on-chain addresses. Known as Ethereum Improvement Proposal (EIP) 7702, this concept introduces a new transaction method that enables externally owned accounts (EOAs) – the default Ethereum (ETH) accounts – to execute functions of smart contract wallets.
Following the completion of transactions, EOAs would revert to their default state. Buterin co-authored EIP-7702 with Ansgar Dietrich, Matt Garnett, and Sam Wilson to create better alignment with the smart contract capabilities outlined in EIP-4337.
Uniswap Founder Hayden Adams has stated that EIP-7702 also introduces quantum resistance as an alternative to EIP-3074, which developers had considered implementing in the next blockchain upgrade following Dencun, codenamed Petra.
Vitalik Buterin’s Ethereum account abstraction
In 2020 and 2021, Buterin and other developers proposed account abstraction as a framework to enable advanced features such as wallet recovery and multi-factor authentication for regular ETH addresses.
Account abstraction was deployed on the ETH mainnet in March of the following year, offering users greater flexibility to swap any token and enhance on-chain operability.
Buterin has often emphasized that account abstraction will be crucial in shaping the future of blockchain transactions, aligning with the fundamental “cypherpunk” ethos and strengthening solutions like zero-knowledge proofs.
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