EIP-7702: A New Alternative to Account Abstraction

Account abstraction (AA) has been a growing trend within the Ethereum community as it can enhance wallet programmability for a better user experience, with features such as conditional wallet access (for wallet recovery or privilege delegation), transaction fee sponsorship, transaction batching, etc.

ERC-4337 was implemented last year that enabled smart contracts to behave like accounts. These accounts are known as contract accounts (CAs), where CA-originated transaction objects are sent to an alternate mempool for bundlers to pick up and have them executed by a dedicated “entry point” contract.