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devcon 7 / eip 7702 a technical deep dive

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EIP-7702: a technical deep dive

Duration: 00:21:39

Speaker: lightclient

Type: Talk

Expertise: Expert

Event: Devcon

Date: Nov 2024

We'll discuss some of the design goals that lead to EIP-7702, how it works, and what will be possible for users after the Pectra network upgrade.

Categories

Core ProtocolAccount AbstractioneipAccount AbstractionCore Protocol
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Native Account Abstraction in Pectra, rollups and beyond: combining EOF, EIP-7702 and RIP-7560 preview
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Native Account Abstraction in Pectra, rollups and beyond: combining EOF, EIP-7702 and RIP-7560

Account Abstraction has rightfully become one of the most discussed topics in the Ethereum ecosystem. The upcoming Pectra upgrade is set to be the first one to improve EOAs by including EIP-7702. But can EIP-7702 alone achieve "Account Abstraction"? We will discuss the challenges and benefits of EIP-7702, and break down the team's vision for achieving "complete" Native Account Abstraction with RIP-7560/EIP-7701 and how it differs from ERC-4337 + EIP-7702.

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Exploring the Future of Account Abstraction

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Changes to the L1 EVM versus L2s

The EVM has long been a target for improvement, but major changes have been postponed due to other priorities. As Ethereum's core, EVM modifications could significantly affect network stability, security, and performance, or add complexity. This necessitates lengthy approval and implementation processes. Panelists will explore new initiatives to implement EVM upgrades such as the EOF on L2s before L1, discussing their pros and cons.

Rethinking Ethereum’s account model preview
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Account centric models are inherently faster. Ethereum operates on a global account based model. This means a global lock occurs any time someone needs to touch a piece of global state, such as an ERC20. An account centric model, instead, creates a new deterministic address or state for each account. This means calls into transfers on ERC20s and dexes can be made in parallel, accelerating speed drastically. It also is more secure. It’s a forgotten mechanism to scale ETH.

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