Overview
EIP-7702 allows Externally Owned Accounts (EOAs) to set the code in their account. This simple change means that any account on Ethereum can be a smart account. On May 7th, it went live as part of Ethereum's Pectra Hardfork.
This has huge potential in terms of improving the user experience on Ethereum, but only if the Ethereum ecosystem takes advantage of this new capability.
It starts with the chains
Pectra is live on Ethereum mainnet, but in 2025 Ethereum’s ecosystem includes many rollups and EVM-equivalent chains, all of which need to upgrade to support EIP-7702 to provide a consistently enhanced user experience.
The infrastructure needs to adapt
A lot of Ethereum's infrastructure today is built for EOAs. Tooling and infrastructure needs to be upgraded to support EIP-7702, but also to better support smart accounts in general, potentially by leveraging related EIPs.
Wallets need to be smart
Wallets are the gatekeepers to adoption, as it is wallets which control an account's code (whether the account is an EOA or a conventional smart contract wallet). EOA wallets need to adopt EIP-7702 with a fully-featured smart account, and need to establish a strategy for exposing this new capability to users.
It's up to the apps
In the end, it is up to the apps to take advantage of this new capability by building with smart accounts in mind. Apps might do this in different ways, from focusing solely on supporting smart accounts, to providing fallbacks to handle edge cases where a user doesn't have one. But the good news in either case is that apps can start today!