colin

@colinlyguo

Joined on Dec 20, 2024

  • Special thanks to Péter Garamvölgyi for feedback and review. Introduction EIP-7702 introduces a new transaction type that allows an Externally Owned Account (EOA) to specify an address as the pointer to its implementation. For example, this address could be a generic proxy or minimal proxy contract that forwards call messages to an upgradable wallet implementation. To make the explanation clearer, it is important to distinguish between the "delegated" code and the "delegator" account. For this reason, this article will sometimes refer to an EOA that has delegated to code as a "smart EOA". EIP-7702 effectively upgrades EOAs to function like Smart Contract (SC) wallets, unlocking programmability, and composability for EOA users, and enabling features like: Social recovery: EIP-7702 supports social recovery for EOA users. This is particularly beneficial for users who are afraid of losing their private keys, they can just overcome this with a simple social recovery setup.[^1]
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