Vitalik Buterin’s New Proposal to Simplify Ethereum’s Account Handling
Vitalik Buterin, co-founder of Ethereum, has proposed a new Ethereum Improvement Proposal (EIP-7702) to address concerns surrounding account abstraction in future updates.
This initiative comes in response to debates over EIP-3074, which has been under scrutiny for its handling of account abstraction in Ethereum’s next major update, Prague-Electra or “Pectra.”
Buterin, alongside contributors Ansgar Dietrichs, Sam Wilson, and Matt Garnett, introduced EIP-7702, aiming to simplify development by introducing a temporary transaction type for Externally Owned Accounts (EOAs), enabling them to function as smart contract wallets within a single transaction.
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This proposal seeks to align with future account abstraction models, such as EIP-4337, with the goal of minimizing disruption and gaining support from influential developers like Uniswap’s Hayden Adams.
Ethereum’s governance framework ensures thorough scrutiny of proposals before implementation, with updates tentatively scheduled for the fourth quarter of 2024.