The Ethereum Improvement Proposal (EIP) 7702 is set to revolutionize wallet management and account abstraction in cryptocurrency. It allows externally owned accounts (EOAs) to function like smart contracts, enhancing user experiences and efficiency. This development can be tested on the Odyssey Chapter 1 testnet and offers features such as gas sponsorship, account recovery, and transaction bundling. EIP-7702 also integrates with Viem and Coinbase Smart Wallet, allowing for the design of more intuitive and effective decentralized programs. Odyssey Chapter 1 provides developers with access to cutting-edge Ethereum features and operates at high performance. It integrates advanced features from Ethereum's upcoming Pectra and Fusaka upgrades, enhancing security and pushing the boundaries of Layer 2 (L2) innovation. Coinbase has recently restructured its operations, with a focus on diversifying revenue streams and capturing growth in traditional exchange sectors and emerging blockchain technology. This aligns with broader industry trends emphasizing on-chain business opportunities and user-friendly crypto solutions.



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