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EIP-7702 Allows ordinary Ethereum wallets to run smart contract code, supporting batch transactions and Gas fee sponsorship.
What is EIP-7702? The Ethereum upgrade behind the Binance hacking incident EIP-7702 allows ordinary Ethereum wallets to run smart contract code, enabling batch transactions and sponsored transactions (Gas fees paid on behalf of users).
Source: https://www.panewslab.com/zh/articles/01a1963e-173f-75b8-b0ca-4d77f7e159c7
EIP-7702 Allows ordinary Ethereum wallets to run smart contract code.
EIP-7702 Enables batch transactions.
EIP-7702 Enables sponsored transactions, meaning Gas fees can be paid on behalf of users.
The title mentions the “Binance hacking incident.”
The following is analysis, separate from reported facts. Verify important claims independently.
This content states that ordinary Ethereum wallets can use EIP-7702 to run smart contract code and process batch transactions at once, or have Gas fees paid by another party.
Batch transactions and Gas fee sponsorship are wallet capabilities explicitly mentioned for this upgrade.
Beginners can understand it as follows: ordinary Ethereum wallets can perform more operations and allow Gas fees to be paid by another party.
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A proposal aimed at optimizing Ethereum externally owned account (EOA) functionality and adding new capabilities to wallets.
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View glossary →This term is not in the glossary yet. Browse related concepts in the glossary.
View glossary →This term is not in the glossary yet. Browse related concepts in the glossary.
View glossary →The on-chain transaction fee paid by the user in BNB is used to compensate validators for processing and confirming the transaction.
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