Exclusive interview with the Alchemy of the Henness Will

As Etherum’s Pectra Upgrade becomes closer, Alchemy’s will Hennesies talks about why EIP-7702 is not for beginners and what blockchain developers must be aware of.

Ethereum Developers announced that highly expected upgrade of Petra will launch 8. April Update will introduce new mechanisms that increase the speed of Ethereum, reducing gas fees and adding smart accounts that can perform more transactions at the same time and even pay for gas fees with different cryptocurries.

While the update is set to live on Mainet in April, but the Etherum’s Holeski Testet is already vanilla, although switching faced some challenges, including transaction finals and unexpected disposal in the function of abstraction.

Crypto.news talked to the Henness’s will in the product manager in Blocchain infrastructure, to investigate all hidden threats and why EIP-7702, key part of Petra, is not suitable for beginners and which wallet providers do not need to know.

CN: Etherum finally wants each wallet to be a smart contract, and it seems to be upgrading 2025. years (EIP-7702) (EIP-7702) plays a big step in that direction, because it will allow regular wallets to run smart with contracts without the need for overhauled overhauls. But not to make this update easier for bad actors to conceal malicious smart contracts as a regular EOAS?

VH: The EIP-7702 does not actually facilitate the disguise of malicious contracts. Here’s why:

The delegation mechanism requires an explicit authorization user – Nothing happens automatically or without user awareness. The EOA owner must actively decide to delegate control to a smart contract through a particular signature. This delegation is permanent as it explicitly revoked.

What is important to understand is that the EOA’s private key keeps complete control and can override the behavior of the smart account. This is actually a security feature – if the user detects that they transferred to the malicious contract, they can always use their private key to their EOA to the delegation opposition.

Therefore, we do not recommend EIP-7702 for new users – it is better for them to start clean smart accounts that enable a safer key to rotation and multi-sig policies that cannot be circumvented. The EIP-7702 is the most valuable for the improvement of existing EOA wallets that already have property or history, giving them access to the functions of the Smart Contract in a controlled manner.

For wallet suppliers, we recommend the application of clear security measures:

• Visual indicators when users are bypassing the safety of the smart account.
• Automated Reputation Check for Delegates Contracts.
• Call the chain when the delegation states vary by networks.

Thus, even though the EIP-7702 adds new EOAS capabilities, it includes security considerations in its design and maintains user control through explicit options for authority and recall. The goal is not easier to run an arbitrary code – it is to enable existing wallets for access to Smart contract functions.

CN: Does the EIP-7702 can lead to an increase in Phishing theft, since the EOAS can now make a smart logic of contracts?

VH: While the EIP-7702 adds new EOAS functionality, this unreasonably increases fishing risk. The key point is that the execution of the SMART logic contract still requires the explicit authorization of the EOA owner.

Imagine that it is like adding account recovery to your email – adds new functionality, but your account does not make it more vulnerable. In fact, the EIP-7702 can help money banknotes can be more safer allowing better security features like:

• Session keys for the authority of limited time.
• Social recovery options.
• More sophisticated transaction validation.
• Ability to set consumption restrictions and other security control.

Users maintain full control through the private key of their EOA, which can override or revoke any delegated functionality. This means that if the user identifies malicious behavior, the approach can be recalled immediately.

This is said, wallet providers must implement appropriate security measures:

• Clean the user interfaces that show when the Smart Contract Features are used.
• Strong verification of the delegate contract.
• Easy to manage the delegation.
• Clear warnings when users are taking actions that bypass a smart account safety.

For users with existing EOA wallets who want these functions, the time of upgrades through the EIP-7702 is actually lighter than alternatives such as creating new smart contracting wallets and transfer each property. The proper implementation of the Wallet Provider is also crucial for users of how these new functions are working.

CN: Should we expect a block chock provider such as alchemy – or even a wallet – to reinforce protection from these types of attacks?

VH: Yes, security is our absolute main priority. Our smart accounts are thoroughly revised and we have provided critical infrastructure for Etherum Ecosystem for more than 7 years. We will continue to maintain the same rigorous safety standards because we support the EIP-7702 adoption.

We are already helping applications to prepare for this transition with the support for EIP-7702 complete with Account, our smart wallet tool.

CN: Why was Ethereum recorded so long to get an account abstraction?

VH: The journey to an account abstraction in Ethereum was methodically for good reason. Edit how accounts work at the protocol level requires extreme care because it affects each user and online application.

Early attempts on the abstraction account have proposed more radical changes in Etherum basic architecture. These proposals would require great modifications of the Etherum virtual machine, which carried significant technical risk and complexity of application.

Instead, the ecosystem took a gradual approach. The ERC-4337 first came, which enabled Smart Contracting Accounts – essentially works around the need for a deep protocol. This allowed the Community test and regulations the concepts of abstraction of accounts in production.

Now with the EIP-7702, we see a more elegant solution that builds on these teachings. Instead of completely restructure how the bills work, allows EOAS to delegate the possibilities of smart contracts and retain compatibility backwards. This saves customers with trusts while unlocking new functionality.

Each step required extensive testing, auditing security and community consensus. When you are dealing with a network that provides hundreds of billions in value, this measured approach to basic changes is crucial. The goal was to expand the possibilities of a wallet without compromising the basic safety and reliability of Etherum.

What we now see is not just an abstraction of accounts finally arrives – this is an abstraction of accounts correctly, informed by years of research, testing and experiences in the real world.