What is ERC-7702?
EIP-7702 is a step towards account abstraction, enabling EOAs (Externally Owned Accounts) to have both code and storage. This enhancement allows EOAs to function as smart contract accounts, unlocking new features such as:- Transaction batching.
- Gas sponsorship.
- Delegated actions: Granting other addresses limited access to act on behalf of the EOA.
Signing Process
In its current implementation, EIP-7702 requires the EOA to sign a special hash calculated using the following parameters:chain_id: The identifier of the blockchain network.address: The account address to which calls will be delegated.nonce: Current nonce of the account.
- Verifies the signature.
- Checks the account’s nonce.
- Confirms the chain ID (
0or the current chain ID).
(0xef0100 ++ address).
EIP-7702 is available on devnets and testnets such as Pectra Devnet, Ithaca and will be enabled on Ethereum Mainnet after the Pectra upgrade.
An important consideration that applies for EOAs that have code set is that the private key can still be used to sign transactions and even change delegations. Hence, it is important to keep the private key secure even after the authorization has been signed.
This signing method is not compatible with the EIP-712 or EIP-191 standards. Wallet providers must add support
for this specific signing method.