An Ethereum Improvement Proposal called EIP-7702 has the potential to speed up the acceptance of smart accounts by simplifying the process for current users to upgrade their wallets. Lukas Schor, the co-founder of Safe, believes that EIP-7702 will play a crucial role in advancing account abstraction. Despite previous expectations, the widespread use of smart accounts has been hindered by challenges in convincing users to switch from their existing wallets. EIP-7702 aims to allow users to transform their current wallets into smart accounts without altering their structure. This proposal introduces a new transaction type that enables externally owned accounts to access smart features. Schor envisions a future where users can have a single account across various blockchain networks, offering enhanced convenience and security. Safe Wallet, previously known as Gnosis Wallet, boasts $60 billion in total value locked and 10 million accounts under Schor's leadership. Read more AI-generated news on: https://app.chaingpt.org/news

#ETH