Smart accounts will solve the “wallet trilemma” by optimizing for non-custodial control, convenience, and security.
An Ethereum Improvement Proposal known as EIP-7702 could accelerate the adoption of smart accounts by making it easier for existing users to upgrade their wallets, according to Safe co-founder Lukas Schor.
“EIP-7702 will be the tipping point for account abstraction,” Schor said at the Ethereum Devcon 2024 event in Bangkok, Thailand, on Nov. 13.
Speaking to Cointelegraph, he said that despite predictions, the widespread adoption of account abstraction or smart accounts hasn’t happened yet, mainly due to difficulties in convincing users to migrate existing wallets and a focus on onboarding new users rather than converting existing ones.
