Ethereum

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<p>Ethereum developers continue to work on improving the crypto platform. Among the promising innovation proposals is EIP-7702. It aims to simplify crypto transactions and enhance the security of external accounts (EOA) on Ethereum. This opens the door to an improved user experience and wider adoption of cryptocurrencies.</p>
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     <p lang="en" dir="ltr">Vitalik Buterin proposes EIP-7702 aiming to refine account abstraction on Ethereum <a href="https://t.co/RhoTSojORX" rel="noopener noreferrer nofollow">https://t.co/RhoTSojORX</a></p>— The Block (@TheBlock__) <a href="https://twitter.com/TheBlock__/status/1788093501986464123?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">May 8, 2024</a>
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<h2 id="h-eip-7702-a-revolution-in-crypto-transactions">EIP-7702: A Revolution in Crypto Transactions?</h2>
<p>EIP-7702 introduces a new type of <strong>revolutionary crypto transaction</strong>. The goal: to allow EOAs to temporarily behave like <a href="https://www.cointribune.com/what-is-a-smart-contract/" target="_blank" rel="noopener noreferrer nofollow">smart contracts</a>. This innovation opens up a range of practical possibilities, such as:</p>
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 <li>batching of crypto transactions,</li>
 <li>sponsorship,</li>
 <li>downscaling of privileges.</li>
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<p>The batching of crypto transactions significantly reduces transaction fees. <strong>Sponsorship</strong> offers the possibility for one user to cover the crypto transaction fees of another user. Sponsorship thus promotes financial inclusion and accessibility to the platform.</p>
<p>Downscaling of privileges, in turn, allows limiting the privileges of an account for a specific crypto transaction.</p>
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<h2 id="h-enhancing-security-for-external-accounts-in-crypto-transactions">Enhancing Security for External Accounts in Crypto Transactions</h2>
<p><a href="https://cryptobriefing.com/vitalik-buterin-eip-7702-ethereum-account-upgrades/" target="_blank" rel="noopener noreferrer nofollow">EIP-7702</a> not only aims to simplify crypto transactions on the Ethereum crypto platform but also addresses the crucial issue of external account security. Indeed, the proposal sets up <strong>enhanced verification mechanisms</strong> that allow users to have better control over their accounts and their crypto transactions.</p>
<p>This measure aims to protect users from <a href="https://www.cointribune.com/bitcoin-security-watch-out-for-phishing-scams/" target="_blank" rel="noopener noreferrer nofollow">phishing attacks</a> and fraudulent crypto transactions.</p>
<h2 id="h-a-promising-future-for-ethereum-and-cryptocurrencies">A Promising Future for Ethereum and Cryptocurrencies?</h2>
<p>EIP-7702 is currently <strong>in the discussion phase</strong>. Its adoption within Ethereum is not yet definitive. If EIP-7702 is adopted, it will have a significant impact on the Ethereum ecosystem and the use of cryptocurrencies in general.</p>
<p>In short, EIP-7702 is a promising proposal to improve EOAs on Ethereum. However, there are still <a href="https://www.cointribune.com/crypto-ethereum-and-the-verdict-of-may-that-will-change-everything/" target="_blank" rel="noopener noreferrer nofollow">issues to be resolved</a> before it can be widely adopted by Ethereum.</p>
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Ethereum: EIP-7702 to simplify crypto transactions

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