Odaily News Lukas Schor, co-founder of Safe, said at the Ethereum Devcon 2024 event held in Bangkok, Thailand on November 13 that the Ethereum Improvement Proposal EIP-7702 can make it easier for existing users to upgrade their wallets, thereby accelerating the adoption of smart accounts, and said that "EIP-7702 will be a turning point for account abstraction." He explained that despite the predictions, the widespread adoption of account abstraction or smart accounts has not yet occurred, mainly because it is difficult to convince users to migrate existing wallets, and the focus is on attracting new users rather than converting existing users. EIP-7702 will enable users to convert their existing wallets or accounts to smart accounts. "I think in five years, maybe earlier, every account on Ethereum will be a smart account." It is understood that the proposal proposes a new transaction type that adds fields to externally owned accounts (EOA), enabling them to handle smart functions without changing their structure, and also allows wallet providers such as MetaMask to provide smart account functions. (Cointelegraph)