According to 0xAw, it gives “users have one more dangerous thing they could sign, which would be even more damaging than an approval to wallet drainers.”Mike Tiutin, chief technology officer at onchain compliance protocol PureFi, told Cointelegraph that “drainers proved that users will sign ‘harmless’ messages in cloned DApps.” The risk will now get worse:“EIP-7702 expands that trick from one token to the whole wallet.“Georgiev is more optimistic, saying he is “confident there will not be a tangible increase in risk.” He explained that “by this point, the industry knows how to create a secure contract, especially with such a minimal scope as an EIP-7702 delegation.”Related: Vitalik wants to make Ethereum ‘as simple as Bitcoin’ in 5 yearsEasier institutional stakingArtemiy Parshakov, vice president of institutions at Ethereum staking service P2P.org, told Cointelegraph that “EIP-7002 makes institutional staking much easier to integrate without taking too much risk.” Staking service clients had to obtain a signed message from their staking service provider to be able to exit, and store it securely for later.
Base, told Cointelegraph that EIP‑7702 “is a potentially great addition for Ethereum.” He explained that account abstraction has so far been unable to gain traction due to the need to switch wallets.
Sergej Kunz, co-founder of Ethereum decentralized exchange (DEX) aggregator 1inch, said Pectra “introduces ‘smart account’ functionality” at deeper protocol levels and “improves Ethereum’s scalability” through layer-2 solutions.
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Author / Journalist: Cointelegraph by Adrian Zmudzinski
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