EIP-7702: Ethereum’s Next Step Toward a More Flexible Account Model
Externally Owned Accounts (EOAs) and smart contracts in Ethereum have traditionally been distinct: EOAs are controlled by private keys and can initiate transactions, while smart contracts can execute code when triggered but cannot initiate transactions.
EIP-7702 bridges this gap by allowing EOAs to execute code, effectively blurring the lines between them and smart contracts. This proposal represents a major step toward native account abstraction, enhancing Ethereum’s usability, security, and programmability.