Over 11,000 Smart Wallets Authorized Post-Pectra Upgrade on Ethereum Network

A week after the significant Pectra upgrade, the number of smart account authorizations in line with EIP-7702 has surpassed 11,000. This indicates a strong interest in the new features from exchanges, wallets, and dapps.

The recent upgrade includes a series of enhancements aimed at improving the convenience and efficiency of Ethereum. Specifically, EIP-7702 introduces a new type of transaction that grants account addresses (EOA) the functionality of smart contracts during the operation, with subsequent restoration to the original state. This approach simplifies blockchain interaction, making Ethereum more accessible to ordinary users.

Following the Pectra upgrade, a standard EOA address can delegate the execution of operations to a smart contract by setting a special indicator. Upon receiving a transaction, the corresponding code will be executed instead of the standard EOA logic. Delegation can be revoked at any time, with control over funds remaining with the owner.

Smart accounts allow for complex actions within a single transaction — for instance, simultaneously approving a token and executing a swap on a DEX. They support multisignature, spending limits, autopayments, and even gas fee operations in the native token instead of ETH.

According to the Dune dashboard by Entropy Advisors, after the activation of EIP-7702, the WhiteBIT platform accounted for over 5,300 authorizations — nearly half of the total.

Analysts at The Block suggested that the exchange uses a delegation contract to manage user on-chain interactions such as bundled transactions and sponsored gas.

OKX Wallet emerged as the leader among Web3 wallets in terms of authorizations, with over 3,100, significantly outpacing competitors. MetaMask holds more ETH in smart contracts, although it lags in the number of delegations (around 1,300). This may indicate a higher average asset amount or transaction volume per user.

Besides the UX-oriented EIP-7702, Pectra activated several other EIPs. These introduce substantial changes to validator operations and aim to enhance the overall network performance.

The next major upgrade, Fusaka, is scheduled for September-October.