The jury is still out on Vitalik’s account abstraction proposal

EIP-7702 was quickly adopted for the next Ethereum upgrade, but developers haven’t quite locked it down

article-image

Ethereum co-founder Vitalik Buterin | Alexey Smyshlyaev/Shutterstock modified by Blockworks

share

It’s not yet clear when Ethereum’s next major upgrade will hit mainnet, with current estimates ranging from November this year to early 2025 — although the latter now seems more likely.

The first step in shoring up a timeline for “Pectra” is to finalize the specification of all Ethereum Improvement Proposals that are to be included.

While most of that work has been done, one item was identified on Thursday’s All Core Developers (ACD) call as “the number one outstanding spec issue for Pectra,” and that’s EIP-7702: Set EOA account code for one transaction.

This proposal allows an Externally Owned Account (EOA) — think a normal wallet like MetaMask — to temporarily function as a smart contract for a single transaction. EOAs are accounts controlled by private keys, and smart contracts are code that runs on the blockchain — in this case Ethereum.

EIP-7702 aims to merge some functionalities of both for enhanced flexibility and security.

One example is gasless transactions, where a dapp sets an EOA to allow a third party (such as an operator or sponsor) to cover the fees for a transaction.

The EIP was offered by Ethereum developers, including Vitalik Buterin, in early May and is set to replace an earlier contentious attempt to enable similar features.

Read more: Vitalik rallies support for temporary smart wallets on Ethereum

The upgrade is designed with a future based around account abstraction in mind, avoiding unnecessary complexities and ensuring forward compatibility with further user experience improvements.​ 

During the ACD call, developers discussed the integration challenges and potential risks associated with EIP-7702.

Sudeep Kumar from the Erigon team suggested an account-based revocation system that would be “keeping track of the template addresses that [the user] revoked.”

Geth developer Lightclient suggested such a feature could be implemented as an ERC, not in-protocol.

Other developers voiced concerns over the complexity and potential for scope creep with EIP-7702, depending on which version was ultimately adopted. Some developers argued for bringing over certain features from the earlier EIP-3704 that it is meant to replace.

But Safe co-founder Richard Meissner praised the simplicity of 7702, pointing out it “has no onchain impact, [so] you can deprecate it much easier.”

Marius van der Wijden from Geth expressed reservations about encouraging the use of an account as both a smart account and EOA simultaneously, and Meissner agreed.

“Having both feels very dangerous when it comes to specifying it,” Meissner said.

The consensus was to resolve these issues by the next ACD call to ensure timely implementation for Devnet 2 — the third of many small developer testnets.

That call is scheduled for July 4 — Independence Day in the US — but all American developers in attendance indicated that any backyard barbecuing duties wouldn’t get in the way of Ethereum’s progress.


Start your day with top crypto insights from David Canellis and Katherine Ross. Subscribe to the Empire newsletter.

Explore the growing intersection between crypto, macroeconomics, policy and finance with Ben Strack, Casey Wagner and Felix Jauvin. Subscribe to the Forward Guidance newsletter.

Get alpha directly in your inbox with the 0xResearch newsletter — market highlights, charts, degen trade ideas, governance updates, and more.

The Lightspeed newsletter is all things Solana, in your inbox, every day. Subscribe to daily Solana news from Jack Kubinec and Jeff Albus.

Tags

Upcoming Events

Javits Center North | 445 11th Ave

Tues - Thurs, March 18 - 20, 2025

Blockworks’ Digital Asset Summit (DAS) will feature conversations between the builders, allocators, and legislators who will shape the trajectory of the digital asset ecosystem in the US and abroad.

Brooklyn, NY

TUES - THURS, JUNE 24 - 26, 2025

Permissionless IV serves as the definitive gathering for crypto’s technical founders, developers, and builders to come together and create the future.If you’re ready to shape the future of crypto, Permissionless IV is where it happens.

recent research

Unlocked Advisory-min.png

Research

This report distills Blockworks Advisory’s research on incentive programs and their analysis, offering a foundation for designing future initiatives and advancing industry-wide standards. By highlighting key lessons and methodologies, we aim to empower protocols to make informed, data-driven decisions.

article-image

Crypto is “really exciting,” former SEC Commissioner Paul Atkins said in a podcast interview last year

article-image

Bitcoin is now the “seventh most valuable asset in the world by market cap, just behind the likes of Google and Amazon,” GSR’s Brian Rudick said

article-image

Many analysts expected bitcoin to top $100K before year-end, though it’s been on a post-election tear

article-image

Will investors take a 10% lower return to get access to a regulated investment wrapper?

article-image

Brian Armstrong called out the hire of Gurbir Grewal, who had been the SEC’s enforcement division director since 2021

article-image

Certain senators will be interested to learn about Atkins’s private sector business interests, specifically those related to crypto