Altcoin Ethereum (ETH) $2,554.14 Following the Pectra update that was commissioned last week in the network, the EIP-7702 standard caught a strong acceleration in a short time. This new feature, which has a smart wallet function of standard Ethereum wallets, received more than 11,000 authorization in just a week. In particular, thanks to this update, which improves the user experience, users who do not have technical knowledge have started to access the advanced features of Ethereum more easily.
The new era starting with EIP-7702 in smart wallets
EIP-7702Ethereum, eliminating the necessity of transition to non -standard smart wallets, saves users from a major technical load. Thanks to this standard, the classic wallets (EOA), which are controlled with special switches, can temporarily act as a smart contract. In this way, users can reach advanced transaction features without losing their existing wallets.
A wallet in the new system smart contractWhen it gives authority, the “delegation indicator” becomes activated. This indicator is not directly by the classical method, but over the authorized smart contract. The authorization can be canceled at any time. This provides both flexibility and safety to users. Thanks to this structure, functions such as giving multiple orders, multiple signature verification, spending limit and automatic process timing are also activated.
Competition between wallets and platforms is hot
Pectra updateThen the fastest adopting EIP-7702 wallets and platforms became clear. Almost half of the authorization transactions according to Entropy Advisors’ Dune data is a crypto currency platform Whitebitbelongs to a delegation agreement. With more than 5 thousand 300 transactions, Whitebıt actively uses these authorities to facilitate the user experience. Probably GAS sponsorship optimizes collective operation or user onboardding processes.
OKX His wallet stands out among the individual wallets. More than 3 thousand 100 EIP-7702 officials left behind its competitors. Popular wallet Metamask Although it has a delegation record slightly above a thousand 300 thousand, the amount of ETH it holds in contracts is more than OKX. This indicates that Metamask users are processing with higher balances.
As it is known, the Pectra update is not limited to the EIP-7702. Within the scope of the update, improvements for the functioning of Ethereum verifiers and “BLOB” data improvements with Layer-2 scaling-oriented data improvements are also noteworthy. However, the most concrete innovation on the user side was the EIP-7702, which brings the smart wallet experience to standard wallets.
Responsibility Rejection: The information contained in this article does not contain investment advice. Investors should be aware that crypto currencies carry high volatility and thus risk and carry out their operations in line with their own research.
