tl;dr
Over 26,000 Ethereum wallets have integrated features from the recent Pectra upgrade, which introduces EIP-7702, allowing regular Ethereum wallets to function like smart contracts without losing their original addresses. This upgrade enables automated spending, scheduled payments, multi-step transac...
Ethereum’s recent Pectra upgrade, featuring EIP-7702, has been adopted by over 26,000 wallets, transforming regular Ethereum wallets into smart accounts without losing their original addresses.
This innovative upgrade allows wallets to perform programmable tasks such as automated spending, scheduled payments, and multi-step transactions within a single operation. Importantly, it also enables users to pay transaction fees in tokens other than ETH, enhancing user flexibility.
Traditionally, Ethereum wallets split into Externally Owned Accounts (EOAs), which could send transactions but weren't programmable, and Smart Contracts, which could automate tasks but couldn't initiate transactions. EIP-7702 bridges this gap by letting EOAs delegate control to smart contracts, blending programmability with transaction initiation.
Wallets adopting these features authorize a smart contract to manage their activity, while those wanting to opt out can direct their wallet to a burn contract to disable the programmable functions.
Adoption has surged not only on Ethereum’s mainnet—which currently hosts 13,013 smart accounts—but also across multiple layer-2 networks and sidechains like Optimism (5,588), Binance Smart Chain (5,261), Coinbase-backed Base (2,851), and Gnosis (229).
Since the Pectra upgrade, nearly 124,000 authorizations have been recorded, with Binance Smart Chain leading in active contracts at 69, closely followed by Ethereum at 66. Base, Optimism, and Gnosis have 37, 9, and 6 active smart contracts respectively.
Major wallet and exchange providers have rapidly embraced smart accounts. WhiteBIT tops the leaderboard with 6,922 authorizations, MetaMask follows with 5,188, and OKX has 3,452, while approximately 3,988 authorizations come from unidentified sources.
The Pectra upgrade marks a pivotal shift, empowering users with sophisticated automation tools and token-flexible fee payments, reshaping how Ethereum wallets function across the ecosystem.