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EIP-7702: Set Code for EOAs

EIP-7702 introduces a novel mechanism to upgrade Externally Owned Accounts (EOAs) to smart contract wallets on a per-transaction basis. Historically, Ethereum u

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Abstract

EIP-7702 introduces a novel mechanism to upgrade Externally Owned Accounts (EOAs) to smart contract wallets on a per-transaction basis. Historically, Ethereum users have been restricted to two distinct account types: EOAs, which are simple public-private key pairs, and smart contract accounts, which offer programmable logic. EIP-7702 bridges this gap by allowing an EOA to temporarily execute as a smart contract, providing the advanced features of account abstraction without requiring a permanent migration or loss of compatibility. This proposal leverages a new transaction type that includes a signature and a code field, enabling the temporary delegation of an EOA’s code to a smart contract. By facilitating this transition, the proposal enhances user security, enables gasless transactions, and allows for multisig or batching capabilities on existing legacy accounts. It represents a significant step in the Ethereum ecosystem’s move toward complete account abstraction by reducing the technical friction associated with shifting from traditional key-based management to programmable, smart contract-based account ownership. Authors: Vitalik Buterin, Sam Wilson, Ansgar Dietrichs, Matt Garnett Publication: Ethereum Improvement Proposals Publication date: 2024-01-01

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Key findings

  • Introduces a new transaction type that enables EOAs to function as smart contracts.
  • Allows for temporary smart contract code execution without permanent account migration.
  • Enhances user security through native support for multisig and complex authentication logic.
  • Facilitates a smoother transition path for users toward full account abstraction.

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Citation

Vitalik Buterin, Sam Wilson, Ansgar Dietrichs, Matt Garnett (2024). EIP-7702: Set Code for EOAs. Ethereum Improvement Proposals. https://eips.ethereum.org/EIPS/eip-7702
Canonical knowledge ID: research:eip-7702-set-code-for-eoas