According to U.Today, Ethereum co-founder Vitalik Buterin has expressed significant concerns regarding the security of EIP7702 in a recent exchange on X. The discussion was initiated by Uniswap creator Hayden Adams, who questioned why users trust smart contract wallets but remain wary of the irrevocable nature of EIP7702. Buterin responded by highlighting a key difference: users have confidence in a single, securely auditable piece of code with smart contract wallets (SCW). However, EIP7702 introduces additional risks as its security relies on users delegating to a single entity, the wallet itself.
Buterin emphasized that ensuring strong security for Ethereum wallets is a complex task. He pointed out that smart contract wallets are relatively easy to use and audit because they operate with a single piece of code. This allows for extensive auditing to identify and rectify potential vulnerabilities. In contrast, EIP7702's more intricate delegation procedure complicates security guarantees. Users must ensure their delegations are made to trusted entities, adding a layer of reliance that may not be as easily auditable or secure.
Adams further elaborated that novice users might find it easier to trust their wallet without understanding the underlying smart contract mechanisms. This could complicate the use of EIP7702 for account recovery if wallets inadvertently disrupt the delegations of other wallets. The discussion underscores the ongoing efforts within the Ethereum ecosystem to balance security, usability, and trust. As the platform continues to evolve, the development of secure yet user-friendly mechanisms will be crucial in fostering trust and adoption among a broader user base.
