Glossary - ChicksX

EIP-3074 is an Ethereum proposal enhancing user account control, enabling meta-transactions and reducing transaction costs via smart contracts.

EIP-3074 is an Ethereum Improvement Proposal aiming to enhance user account management on the Ethereum network. It introduces two new opcodes, AUTH and AUTHCALL, which allow smart contracts to perform actions on behalf of an externally owned account (EOA). By enabling meta-transactions, EIP-3074 allows users to delegate transaction fees to third parties, streamlining transactions and reducing associated costs. This proposal improves user experience by simplifying transaction processes and potentially lowering gas fees. It also opens up possibilities for advanced account abstraction, enhancing Ethereum's scalability and usability while maintaining security and decentralization.