Vitalik Buterin, co-founder of Ethereum, proposed a common idea to improve computation abstraction for standard on-chain addresses.
This concept is called the Ethereum Improvement Proposal (EIP) 7702 He presents A new transaction method that allows externally owned accounts (EOAs), also known as a physical Ethereum (ETH) account, to perform smart contract wallet functions.
After transactions are completed, EOAs will return to the default state. Buterin co-authored EIP-7702 with Ansgar Dietrich, Matt Garnett, and Sam Wilson to provide better synergy with the smart contract capabilities provided in EIP-4337.
According to Uniswap founder Hayden Adams, EIP-7702 also brings quantum resistance as a tool. substitute for EIP-3074, which the developers considered shipping with the next blockchain upgrade after Dencun launched on Petra.
Vitalik Buterin's Ethereum account stripped
Buterin and other developers proposed account stripping in 2020 and 2021 as a framework to enable advanced features such as wallet recovery and multi-factor authentication for regular ETH addresses.
The account was stripped to publish on the ETH mainnet in March of last year, providing greater flexibility for users looking to swap any token and benefit from better on-chain interoperability.
Buterin has often noted that account abstraction will play a major role in the future of blockchain transactions, complementing the quintessentially “cypherpunk” approach and promoting solutions like zero-knowledge proofs.
