EIP-3074 has officially been included in Ethereum’s upcoming Pectra upgrade (also known as the Prague upgrade), as confirmed during the 183rd ACDE meeting on April 12, 2024. This development has sparked significant interest within the Ethereum community, with many believing it will revolutionize how users interact with EVM-based chains by making wallet experiences simpler, cheaper, and more powerful.
What Is EIP-3074?
In simple terms, EIP-3074 enables the delegation of Externally Owned Account (EOA) control to smart contracts. This unlocks capabilities like:
– Single-transaction approvals
– Batch transactions
– Wallet asset recovery
– Sponsored transactions
Proposed by Ethereum researcher Sam Wilson and Go Ethereum developers, this upgrade introduces two new EVM opcodes:
1. AUTH (0xf6): Verifies ECDSA signatures to authorize specific EOAs
2. AUTHCALL (0xf7): Allows authorized smart contracts to initiate transactions from EOAs
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How EIP-3074 Works: The Technical Flow
The new transaction workflow operates as follows:
1. User signs an off-chain message (not a transaction)
2. User or sponsor submits this message to a caller contract
3. Caller contract uses AUTH/AUTHCALL to:
– Verify signatures
– Execute actions on target contracts
– Maintain the EOA as the transaction originator
Transformative Use Cases Enabled by EIP-3074
1. Sponsored Transactions
Users like Bob can execute transactions without holding ETH for gas fees. Applications can sponsor these costs, eliminating the need to purchase/bridge ETH first—a potential breakthrough for mass adoption.
2. Batch Operations
| Current Process | EIP-3074 Improvement |
|---|---|
| 1. Approve token access | Both steps combined |
| 2. Execute swap | into one transaction |
This eliminates the two-step process required for actions like Uniswap trades.
3. Asset Recovery
Users can implement social recovery mechanisms through specialized caller contracts. If recovery conditions are met (e.g., multi-signature approval), assets can be moved without the original private key.
The Before/After Impact on Ethereum
Pre-EIP-3074:
– Users sign transactions for every smart contract interaction
– Constant message signing required for daily operations
Post-EIP-3074:
– Single signature grants session-like permissions
– Smart contracts can autonomously perform approved actions
– Particularly transformative for web3 gaming and dApp UX
Unlike ERC-4337 (account abstraction at contract level), EIP-3074’s EVM-level upgrade provides smart contract benefits without additional setup requirements.
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Potential Drawbacks and Considerations
- Caller Contract Risks:
- Requires thorough auditing
- Must be non-upgradeable and trustless
-
Poor implementation could lead to fund theft
-
Compatibility Issues:
-
Some existing reentrancy checks may not function properly
-
Implementation Requirements:
- Mandates a hard fork (unlike ERC-4337)
- This complexity contributed to its delayed adoption
Frequently Asked Questions
Q: When will EIP-3074 go live?
A: It’s scheduled for the Pectra (Prague) upgrade, expected in late 2024 or 2025.
Q: How does EIP-3074 compare to ERC-4337?
A: While both improve UX, EIP-3074 operates at the EVM level for broader compatibility, whereas ERC-4337 implements account abstraction through smart contracts.
Q: Can EIP-3074 transactions be reversed?
A: No—like regular Ethereum transactions, they’re immutable once confirmed.
Q: Will this make wallets less secure?
A: Not inherently, but users must trust the caller contracts they authorize. Proper auditing is crucial.
Q: Does this eliminate gas fees?
A: No, but it enables third parties to sponsor fees for users.
Q: Which wallets will support EIP-3074?
A: Major wallet providers will likely integrate support after the Prague upgrade.
EIP-3074 represents a significant step toward mainstream Ethereum adoption by addressing critical UX barriers. While requiring careful implementation, its potential to streamline transactions, enable new recovery options, and reduce friction could fundamentally change how we interact with blockchain technology.