Ethereum Co-founder Urges Caution on New Upgrade
Ethereum co-founder Vitalik Buterin has advised users to be cautious with the latest Ethereum upgrade, EIP-7702. In a recent Warpcast post, Buterin responded to community concerns about potential security risks.
One user highlighted that while the upgrade blocks suspicious websites, it still allows potentially fraudulent contracts to pass through. This could expose users to security breaches like phishing.
Buterin recommends delegating only well-reviewed contracts to mitigate these risks. “The right way to use EIP-7702 is to delegate a single,thoroughly reviewed contract,” he said. This contract should safely handle the remaining logic.
EIP-7702 introduces a new transaction feature. It allows EOAs to temporarily function as smart contract accounts during a single transaction. This enables advanced transactions like gas sponsorships and batch transactions without permanently altering the account structure.
While the upgrade aims to simplify account abstraction, it also introduces potential security risks. Attackers could exploit it by creating contracts that seem safe but hide security loopholes.
EIP-7702 is part of the broader Pectra upgrade, now expected to launch on April 21. Buterin co-authored EIP-7702 to enhance synergy with smart contract capabilities.
