EIP-7702, introduced through the Pectra upgrade, allows Ethereum externally owned accounts (EOAs) to temporarily delegate control to smart contracts, enabling advanced wallet features without requiring wallet migration.

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EIP-7702, part of Ethereum's Pectra upgrade, went live on the mainnet around May 6. It introduces a mechanism that allows standard Ethereum addresses controlled by private keys to temporarily delegate functionality to smart contract accounts.

This feature lets regular Ethereum wallets, known as externally owned accounts (EOAs), temporarily hand over control to a smart contract. It allows standard wallets to act like smart wallets when needed.