Etherscan Introduces New Tools for EIP-7702 Monitoring
Etherscan has introduced new tools designed to monitor EIP-7702 authorizations in response to the recent Pectra upgrade of the Ethereum network. This significant upgrade, which incorporates both the Prague and Electra enhancements, was officially implemented on May 7, 2025.
The Significance of EIP-7702
The Pectra upgrade integrated 11 new Ethereum Improvement Proposals (EIPs), with EIP-7702 being a highlight of this update. EIP-7702 allows for a novel functionality where externally owned accounts (EOAs) can temporarily delegate their transaction execution tasks to smart contracts. This seamless integration combines user-controlled accounts with the advanced capabilities of smart contracts.
Notably, a new transaction type, labeled “set code transaction” (0x04), has been introduced, which designates a delegation indicator for the EOA, consequently rerouting its operations to a specific smart contract.
Managing Delegations
Users are able to manage this delegation through an authorization_list including data pertinent to the blockchain, making it possible to reverse these changes via code-resetting transactions. This innovative feature enables EOAs to perform batch transactions, cover gas fees for the transactions they sponsor, or establish custom permissions without having to permanently convert into smart contracts.
Key Features and Security Challenges
Some key attributes of EIP-7702 are:
- Support for atomic transaction bundling
- Potential for third-party coverage of gas fees
- Detailed permission settings such as limits on token access
Nonetheless, the introduction of these features comes with security challenges. There is the possibility of exposing EOAs to risks when delegating to unverified contracts, and poor nonce management could make accounts vulnerable to replay attacks. Thus, to enhance security, users are encouraged to actively revoke their delegations when not in use.
Compatibility and Future Prospects
Furthermore, EIP-7702 aligns with established account abstraction structures like ERC-4337, which enhances its compatibility across various wallets and decentralized applications. After initially launching on the Sepolia testnet, EIP-7702 is now fully operational on Ethereum’s mainnet following the Pectra rollout.
Conclusion
In light of this upgrade, Etherscan’s latest functionality allows users to monitor both current and previous authorizations through the new “Authorization List” tab on address pages, thereby increasing transparency around delegated authorities. As Ethereum progresses towards hybrid account systems, EIP-7702 represents a crucial advancement in enhancing blockchain accessibility while balancing flexibility and user control. Developers are strongly encouraged to conduct thorough security audits and provide user training to fully harness the advantages of this new proposal.
