$ETH Pectra Update: This significant update, expected to go live on May 7, 2025, combines features from the "Praga" and "Electra" development phases. Its goal is to enhance network efficiency and user experience through:

Account Abstraction (EIP-7702): This will allow externally owned accounts to function as smart contracts, enabling features such as transaction bundling, sponsored gas fees, and social recovery for lost keys, leading to more user-friendly wallets.

Staking Improvements (EIP-7251, EIP-7002, EIP-6110): These include increasing the maximum staking limit for validators to 2,048 ETH (up from 32 ETH), allowing direct execution layer exits for stakers, and faster onboarding for new validators.