The Ethereum co-founder, Vitalik Buterin, has put forth a new suggestion to enhance the sustainability of the protocol’s smart contract push in the long term. This proposal, known as EIP-7702, has caught the attention of the founder of Uniswap, Hayden Adams. Adams has provided clarification on the implications of the proposal for community members who may be confused.
Adams highlighted that EIP-7702 aims to replace EIP-3074, which introduces smart wallet capabilities to standard “EOA” wallets. Additionally, several Ethereum developers have presented the EIP-4337 proposal, which seeks to establish standards for smart contract wallets.
It is worth noting that Buterin is not entirely satisfied with EIP-3074, despite its planned inclusion. His concern stems from the potential compatibility issues between EIP-3074 and EIP-4337, particularly in light of the rise of quantum computers. Buterin worries that EIP-3074 may become vulnerable to security breaches sooner than expected.
The introduction of the EIP-7702 proposal aims to address the issues with the previous options. This proposal enables new features, including the ability to have transactions sponsored by other parties.
While the proposal will undergo standard community review procedures, its benefits will be adequately emphasized throughout. If approved and released to the public, it will not have any impact on typical users, similar to previous upgrades like the Ethereum Dencun Upgrade.
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