You can also read this news on COINTURK NEWS: <a href="https://en.coin-turk.com/ethereums-new-proposal-eip-7702-aims-to-improve-account-abstraction/" data-wpel-link="internal" rel="noopener noreferrer nofollow">Ethereum’s New Proposal EIP-7702 Aims to Improve Account Abstraction</a> 
<a href="https://en.coin-turk.com/6-5-billion-dollars-worth-of-ethereum-burned-after-london-hard-fork/" data-wpel-link="internal" rel="noopener noreferrer nofollow">Ethereum</a>‘s co-founder Vitalik Buterin and co-authors have proposed the Ethereum Improvement Proposal (EIP) 7702 as an alternative to EIP-3074. EIP-7702 permits externally owned accounts (EOAs) to act temporarily as smart contract wallets during a transaction and then revert to their original state.
<h2 style="text-align: justify" id="strong-key-features-of-eip-7702-strong">Key Features of EIP-7702</h2>
Buterin and co-authors Sam Wilson, Ansgar Dietrichs, and Matt Garnett, proposed EIP-7702 as an alternative to EIP-3074 aimed at improving account abstraction within the Ethereum network. EIP-7702 introduces a new transaction type that allows EOAs (normal Ethereum wallet addresses) to function temporarily as smart contract wallets and then return to their original states.
<img loading="lazy" loading="lazy" decoding="async" class="aligncenter size-full wp-image-348970" src="https://coin-turk.com/wp-content/uploads/2024/05/Ethereum-ETH-Vitalik-Buterin.png" alt="" width="2708" height="1172">
EIP-7702 aims to be compatible with another broader standard known as ERC-4337, considered the “endgame in account abstraction.” The proposal is designed to be compatible with the endgame in account abstraction without delving deeply into the details of ERC-4337. As the Ethereum community evaluates the proposal, EIP-7702 could redefine how account abstraction is implemented in future network updates.
The new transaction type proposed in EIP-7702 includes fields for contract code and signatures, providing the same functions as those proposed in EIP-3074, such as batch and sponsored transactions. Moreover, it allows EOAs to temporarily transform themselves into contracts, facilitating their inclusion in ERC-4337 packages in a manner compatible with the existing EntryPoint.
Hayden Adams, the founder of Uniswap, also joined the discussion on the EIP proposal, noting that EIP-7702 serves as a new alternative to EIP-3074 (previously considered for the upcoming Pectra update) but now offers better compatibility with quantum resistance and ERC-4337.
<h2 style="text-align: justify" id="strong-what-is-account-abstraction-strong">What is Account Abstraction?</h2>
Account abstraction allows wallet addresses to function as smart contracts and run a variety of complex features such as multi-factor authentication, social recovery wallets, and the flexibility for users to transact with any token.
<h5>The post first appeared on COINTURK NEWS: <a href="https://en.coin-turk.com/ethereums-new-proposal-eip-7702-aims-to-improve-account-abstraction/" data-wpel-link="internal" rel="noopener noreferrer nofollow">Ethereum’s New Proposal EIP-7702 Aims to Improve Account Abstraction</a></h5>

Ethereum’s New Proposal EIP-7702 Aims to Improve Account Abstraction

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