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<a href="https://news.todayq.com/vitalik-buterin-says-privacy-is-normal-over-his-ether-move/" rel="noopener noreferrer nofollow">Vitalik Buterin</a>, co founder of Ethereum, in the race to refine account abstraction and enhance its functionality, proposed EIP-7702 as an alternative to EIP-3074. The proposal reportedly aims to look after the key challenges while enabling normal Ethereum account addresses (EOAs). This is done to act as smart contract wallets during transactions temporarily. However, their original state gets restored afterward. What’s going on in Ethereum? 
Gregory Markou, co Founder of ChainSafe Systems, praised the features of the latest EIP 3074 competitor, EIP-7702. He mentioned that its features were really good as it addresses a key hurdle of 3074 which was the special signing requirements.
The discussions surrounded the adoption of EIP-3074. It has often been clouded by concerns about quantum computing (QC) and its potential impact on modern-day cryptography.
James Prestwich highlighted the need of the need for proactive measures if QC poses a genuine threat. He urged them to take decisive actions to reduce the risk for the users.
He wrote, Given that we aren’t recommending taking some pretty extreme actions right now it seems unlikely that it’s an actual concern, basically bringing up QC is disingenuous unless you’re simultaneously advocating starting the migration to post-QC Ethereum right now.
He added that if crypto breaks, we’re all doomed today. Prestwich asked to start pushing the boundary on what an actual migration away from ECDSA. It is important to note that all of the EIP-4337 accounts are built using ECDSA keys as the admin key. Vitalik Buterin replies 
Vitalik Buterin came ahead to reply over the matter in a post. He stated that he has been creating quantum resistant account abstracted wallet codes since 2017.
Ethereum founder highlighted that for quantum-proofing the rest of the protocol they need to focus on foundational infrastructure. This includes recursive STARK protocols. He added that the best thing to do as of now is to keep working hard on really efficient STARK protocols. It is better than just building signature aggregation on top of that.
Buterin mentioned that EIP-4337 does that in more ways than one. He gave out an example of its aggregation feature being optional today, but given the higher base overhead of hash-based signatures, he suspects that it will become essential.
This comes in when Ethereum is dealing with increasing selling pressure in the market. ETH price is down by around 14% in the last 30 days. It is trading at an average price of $3,002, at the press time.

Ethereum’s Vitalik Buterin opens up on EIP-7702 cruciality

Todayq News

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