EIP-3074 is supposed to improve the user experience with wallets on the blockchain, allowing externally owned accounts (EOAs) to be more programmable by letting smart contracts authorize them.
The proposal aims to make EOAs easier to use through features like account abstraction and delegating transaction capabilities to smart contracts, including batching transactions and third-party fee sponsorship.
This change addresses the issue of human error regarding EOAs, as losing a private key can result in permanent loss of funds without key recovery processes, by enhancing wallet programmability.
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