The recent Pectra d’Ethereum upgrade triggers an increase in the use of the intelligent account, redefining how users interact with the network.
The data compiled by Bundle Bear’s Basic Analyst Baskfree show that more than 26,000 portfolios have gone to the new intelligent account format fueled by the EIP-7702 in the Pectra upgrade.
What are smart accounts?
EIP-7702 is a new standard which allows regular Ethereum portfolios to operate as intelligent contracts, without losing their original address or flexibility.
Traditionally, Ethereum portfolios fell into two categories: the accounts belonging to the outside (EOAS), which could send transactions but lacked programmability, and addresses of intelligent contracts which could automate tasks but could not launch transactions.
EIP-7702 mixes both by allowing EOA to delegate control to smart contracts. This unlocks a wide range of features, including automated expenses, scheduled payments and actions in several stages made in a single transaction.
More importantly, the update also allows Ethereum users to pay fees in tokens other than ETH, adding a new layer of convenience.
ETHEREUM EOA users can activate these innovative features by authorizing an intelligent contract that governs their portfolio activity. This contract serves as a logical layer for transactions.
Meanwhile, those who wish to return to a basic portfolio can point their address to a burning contract, deleting the programmable features.
EIP-7702 sees rapid absorption
The data from the basic analyst 0xkofi show that intelligent accounts have gained ground beyond Ethereum and are largely adopted on layer 2 networks as the base and optimism.
Since press times, 13,013 smart accounts have existed on the main maint of Ethereum. The optimism of the layer 2 solution of the blockchain network follows with 5,588, the intelligent binance chain with 5,261, the base supported by the base of the base of Coinbase A 2,851 and the Gnosis with 229.
These accounts have collectively sparked nearly 124,000 authorizations since the launch of the upgrade. The BSC leads with 69 active contracts, followed closely by Ethereum at 66. Base, Optimism and Gnusis Record 37, 9 and 6 active contracts.
The data show that exchange and wallet suppliers also adopt the change.
According to the ranking, Whitebit has the greatest number of intelligent account authorizations, 6,922, followed by Metamask, 5,188. The OKX portfolio represents 3,452, while unidentified sources include 3,988 additional accounts.
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(Tagstotranslate) EIP 7702 (T) Ethereum
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