What EIP 7702 Means for You: More Smart Wallet Features, Less Implementation Complexity

Rarely does a single change have the potential to bring such meaningful impact to the crypto space. Enter EIP 7702—a proposal that aims to do exactly that, bringing a wide range of new capabilities to Externally Owned Accounts (EOAs). EIP 7702 marks a significant leap forward to abstract the complexities of crypto for end-users, aligning with Dynamic's vision of a future where every app and website seamlessly integrates a crypto component.
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Breaking Down EIP 7702

EIP 7702 introduces a key update by decoupling the wallet address from a policy engine, enabling developers to upgrade an EOA into a smart account while keeping the same address. This means users can enjoy features like gasless transactions without switching wallets or spinning up new ones.

You can think of EIP 7702 as an upgrade to your existing car that allows it to run on both gas and electricity, making it a hybrid without having to change anything else. In contrast, ERC-4337 is like buying an entirely new electric vehicle, purpose-built but requiring a more significant transition. EIP 7702 extends EOAs without forcing users to migrate to a completely different account type, while ERC-4337 requires deploying new smart contract accounts to gain similar functionalities.
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How EIP 7702 Benefits Developers

For developers, EIP 7702 provides some exciting opportunities, making it easy to add smart wallet functionality with just a few toggles:

1. Gas Sponsorship and Gasless Transactions: Quickly enable these features to improve user experience without requiring them to hold ETH to pay for gas.
2. Transaction Batching: Bundle multiple actions into a single transaction to improve efficiency.
3. Session Keys: Allow users to interact with apps without constantly re-signing, improving security and convenience. This is beneficial for apps like games that involve frequent transactions, while also enabling new use cases like subscription payments.
4. Account Recovery: Simplify recovery options by still allowing developers to leverage 7212 for direct to AA passkeys.

Moreover, EIP 6900 and EIP 7579 allow you to further extend smart account capabilities by integrating tools like Rhinestone for more custom functionality.
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‍When Is EIP 7702 Coming?

‍EIP 7702 is expected to launch with Ethereum's upcoming Pectra upgrade, scheduled for Q1 2025, likely in March or April. However, developers don’t have to wait to start experimenting. You can already try out EIP 7702 on layer 2 solutions such as Ithaca’s Odyssey testnet with Dynamic.

Following the Pectra upgrade, Dynamic will offer day 1 support for EIP 7702. This means developers will be able to utilize a toggle in our dashboard to activate their embedded EOA wallet as a smart wallet. The toggle is just the beginning—it’s what you can build with it that’s exciting. EIP 7702 isn’t just a feature; it’s a gateway to making crypto apps more intuitive and powerful.
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‍How EIP 7702 Complements Dynamic

‍EIP 7702 aligns with Dynamic’s mission to make crypto invisible. For developers, it removes a lot of complexity around advanced wallet features. With capabilities such as gas sponsorship and session keys, builders can focus on creating innovative experiences instead of navigating technical hurdles. Combined with Dynamic’s emphasis on security, EIP 7702 gives developers confidence in their implementation.

For end-users, the benefits are just as appealing. They benefit from features like gasless transactions and streamlined interactions. All of this without requiring users to learn new concepts or workflows. By integrating EIP 7702 into Dynamic’s platform, we ensure that developers can easily activate these capabilities through our intuitive dashboard. It’s not just an upgrade—it’s a step toward making crypto intuitive and ready for mass adoption.
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‍Why We're Bullish on EIP 7702

‍At Dynamic, we’re incredibly bullish on EIP 7702 because it solves the vast majority of developer challenges in an extremely straightforward way. EIP 7702 simplifies implementation by allowing developers to upgrade EOAs with smart account functionalities, without the need for new addresses. Smart wallets are a major step towards our vision of seamless crypto integration for every app and website, bringing advanced features to users in a way that feels natural and frictionless.
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‍A Future of Account Abstraction

‍EIP 7702 brings exciting improvements to Ethereum’s Account Abstraction by simplifying implementation for developers and improving the experience for users. By maintaining EOA compatibility, it reduces complexity across chains while still enabling advanced features. At Dynamic, we’re thrilled to leverage EIP 7702 to help developers create better, more efficient apps.

‍Closing Remarks

‍We are well aware of the arguments against 7702, which argue it prolongs EOAs when we should be moving to RIP-7560 for true AA support in layer 2 solutions. While those are correct, innovation sometimes happens in steps, and in this case, 7702 is a HUGE step in the right direction and a benefit to both end users and developers.
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‍Further Reading

• ZeroDev: Batch Transactions
• ZeroDev: Session Keys
• ZeroDev: Recovery
• Rhinestone - EIP 6900 & 7579
• EIP 4337 Overview
• Account Abstraction via Entry Point Contract
• RIP-7560: Towards Native Account Abstraction
• EIP 6900 Specification

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