Ethereum co-founder Vitalik Buterin has introduced a new Ethereum Improvement Proposal (EIP-7702) aimed at simplifying developer workflows.

EIP-7702 is designed to enhance externally owned account capabilities by incorporating temporary smart contract features, without the need for new opcodes.

The proposal has received backing from Ethereum core and dapp developers, indicating a positive reception from influential community members.

The implementation of EIP-7702 has potential consequences for the Ethereum ecosystem, particularly with the anticipated Pectra upgrade slated for late 2024.

If EIP-7702 is approved, it could substantially alter the way users engage with decentralized applications and handle their digital assets on the Ethereum platform.

At the time the story was published, the price of Ethereum (ETH) stood at $2,997.