Ethereum

2024

Uniswap

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<p class="is-style-lead">Ethereum co-creator Vitalik Buterin proposed a joint idea to improve account abstraction for standard on-chain addresses.&nbsp;</p>
<p>Dubbed Ethereum Improvement Proposal (EIP) 7702, the concept would <a href="https://github.com/ethereum/EIPs/blob/9e04cf1094eae64172ce04e0a04ec40f1edbdc5d/EIPS/eip-7702.md" target="_blank" rel="noopener noreferrer nofollow">introduce</a> a new transaction method that allows externally owned accounts (EOAs), otherwise known as the defacto Ethereum (<a href="https://crypto.news/price/ethereum/" target="_blank" rel="noopener noreferrer nofollow">ETH</a>) account, to execute smart contract wallet functions.</p>
<p>After transactions are completed, EOAs would revert to the default state. Buterin co-authored EIP-7702 with Ansgar Dietrich, Matt Garnett, and Sam Wilson to offer better synergy with smart contract capabilities enshrined in EIP-4337.</p>
<p>According to Uniswap Founder Hayden Adams, EIP-7702 also brings quantum resistance as a <a href="https://twitter.com/jarrodWattsDev/status/1788119041024168385" target="_blank" rel="noopener noreferrer nofollow">substitute</a> for EIP-3074, which developers mulled shipping with the next blockchain upgrade after Dencun called Petra.&nbsp;</p>
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   <p lang="en" dir="ltr">Vitalik just proposed EIP-7702.<br><br>It's one of the most impactful changes Ethereum is going to have… EVER.<br><br>So, here's everything you need to know about how it works and how we got here:</p>— Jarrod Watts (@jarrodWattsDev) <a href="https://twitter.com/jarrodWattsDev/status/1788119041024168385?ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">May 8, 2024</a>
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<p>You might also like: <a href="https://crypto.news/vitalik-buterin-shares-insights-on-ethereums-account-abstraction-journey/" rel="noopener noreferrer nofollow"> Vitalik Buterin shares insights on Ethereum’s account abstraction journey </a></p>
<h2 class="wp-block-heading" id="vitalik-buterin-s-ethereum-account-abstraction">Vitalik Buterin’s Ethereum account abstraction</h2>
<p>Buterin and other developers proposed <a href="https://crypto.news/learn/ethereums-account-abstraction-explained/" target="_blank" rel="noopener noreferrer nofollow">account abstraction</a> in 2020 and 2021 as a framework to enable advanced features like wallet recovery and multi-factor authentication for regular ETH addresses.&nbsp;</p>
<p>Account abstraction was <a href="http://Vitalik Buterin shares insights on Ethereum’s account abstraction journey" target="_blank" rel="noopener noreferrer nofollow">deployed</a> on the ETH mainnet in March last year, providing greater flexibility for users looking to swap any token and leverage better on-chain operability.&nbsp;</p>
<p>Buterin has frequently <a href="https://crypto.news/vitalik-buterin-reveals-six-focuses-ethereum-2024/" target="_blank" rel="noopener noreferrer nofollow">noted</a> that account abstraction will play a major role in the future of blockchain transactions, complementing the quintessential “<a href="https://crypto.news/vitalik-buterin-outlines-plans-to-make-ethereum-cypherpunk-again/" target="_blank" rel="noopener noreferrer nofollow">cypherpunk</a>” approach and bolstering solutions like zero-knowledge proofs.&nbsp;</p>
<p>Read more: <a href="https://crypto.news/vitalik-buterin-outlines-ethereums-countermeasures-for-quantum-attacks/" rel="noopener noreferrer nofollow"> Vitalik Buterin outlines Ethereum’s countermeasures for quantum attacks </a></p>

Vitalik Buterin pitches upgrade to Ethereum account abstraction

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