In what is considered the largest step since the 'Merge' in 2022, the Ethereum network has activated the 'Pectra' update today, which aims to improve network efficiency and enhance user experience.
Highlights of the update:
Increasing the maximum storage: The maximum storage for Ethereum has been increased from 32 to 2048 ETH per validator, making storage operations easier and reducing the need to run multiple nodes.
Improving wallet functionalities: The update contributes to enhancing wallet functionalities, improving the experience for users.
Enhancing overall efficiency: The update aims to improve the overall efficiency of the network, thereby enhancing its performance and responsiveness.
This update comes at a time when Ethereum is facing increasing competition from other networks like Solana, highlighting the importance of this step in maintaining Ethereum's position in the cryptocurrency market.
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