Ethereum co-founder Vitalik Buterin proposed a new idea to improve the account abstraction for standard addresses in the blockchain. A new transaction method proposed as part of Ethereum Improvement Proposal (EIP) 7702 will allow External Accounts (EOAs) to act as a smart contract wallet. 📈

Once transactions are completed, EOAs will return to their original state. Buterin developed EIP-7702 along with Ansgar Dietrich, Matt Garnett and Sam Wilson to provide better synergy with the smart contract capabilities enshrined in EIP-4337.

Uniswap founder Hayden Adams noted that the EIP-7702 also offers quantum resilience as a replacement for the EIP-3074, which the developers were considering for implementation in the next blockchain update after Dencun, called Petra.