There are early hints that EIP-7702 could replace EIP-3074. The transition sounds rather optimistic, but it is the process that has come under scrutiny for several community members. The transition has been appreciated, for it commits to delivering a seamless account abstraction experience via tools and infrastructure. These were designed for ERC-4337. The fact that the process could have been more refined with less turmoil is what attracted criticism.
Also, there is a chance that the community could have saved more time in reaching the conclusion. It took years for EIP-3074 to get the nod of approval. There was a delay in feedback as core developers only heard opposition from a single side, ERC-4337 in this case, after the approval of 3074.
The authors of the 4337 proposal expressed concerns about 3074. Core developers, to everyone’s surprise, ended up ignoring most of them. The ultimate effect was unexpected and caused a delay. All of this has led to discussions within the community about replacing 3074 with 7702.
Long discussions are reasonable, but to a certain extent, the community believes that a set timeline could have helped to achieve the target way before it has been achieved.
An ideal outcome, according to the community, could have included hearing everyone’s opinion and taking no dramatic reversal. Blames are being passed from one team to another, with core developers stating that the EIP-4337 team was involved more than they should have been involved. Their intervention is now being looked at as a potential barrier throughout the process.
The account abstraction team believes that they did participate, but their opinion was overturned by the core developers. They were not even aware that 3074 was still under consideration. In other words, there was a lack of communication, or probably a lack of engagement, to even showcase a decent hint of consideration.
Complexities in the ACD process have also surfaced. The issue pertains to the inability of full-time workers to actively participate, which consequently prevents them from contributing their opinions as key stakeholders.
However, despite the ongoing circumstances, Ether continues to rally above $3,700. The precise value is $3,745.14 at the time of writing this article. That is a surge of 2.36% in the last 24 hours and a jump of 28.40% in the last 7 days. There is also a notable upswing in market cap by 2.33%, despite a downtrend in 24-hour trading volume by 13.61%.
There are many reflections on Ethereum Governance; what remains stable is the support to have a robust mechanism in place and revise the roadmap if the need arises. It is only through coordination that such a multi-faceted system can operate. There are indications that Vitalik’s vision will ultimately help the ecosystem move forward smoothly.
