Etherscan Unveils EIP-7702 Tracking as Ethereum’s Pectra Upgrade Goes Live
$BTC #TradeStories $BNB NextATH #TradeStories #FOMCMeeting #PectraUpgrade By Jamie Redman
Wed May 7 12:30:50 EST 2025
Etherscan has launched monitoring tools for EIP-7702 authorizations following Ethereum’s Pectra upgrade, which introduced 11 improvement proposals to bolster scalability, security, and user experience.
Ethereum Users Gain Smart Contract Flexibility With EIP-7702 Post-Pectra
Ethereum’s Pectra upgrade, combining the Prague and Electra updates, went live on May 7, 2025, activating 11 Ethereum Improvement Proposals (EIPs), including EIP-7702. The proposal enables externally owned accounts (EOAs) to temporarily delegate transaction execution to smart contracts, blending user-controlled accounts with advanced smart contract functionalities.
EIP-7702 introduces a “set code transaction” (type 0x04) to Ethereum, which assigns a delegation indicator to an EOA, redirecting its operations to a specified contract. Users authorize delegations via an “authorization_list” containing chain-specific data, with changes reversible via code-resetting transactions. This allows EOAs to batch transactions, sponsor gas fees, or set custom permissions without permanent conversion to smart contracts.
Key features include atomic transaction bundling for efficiency, third-party gas fee coverage, and granular permissions like token access limits. However, security risks persist: delegating to unvetted contracts may expose EOAs to exploits, while improper nonce management could enable replay attacks. Users must actively revoke delegations to mitigate risks.