According to a post from the Ethereum Foundation at 18:20, the ETH Pectra hard fork upgrade has officially gone live on the mainnet. This upgrade introduces smart account wallet features (account abstraction), doubles L2 data storage capacity, and improves validator experience, aiming to enhance Ethereum's scalability and user experience.
However, the market response has been moderate, and the price of ETH is still generally linked to the trend of Bitcoin, reported at $1837 before the deadline, and the community sarcastically refers to this as the least cared-about upgrade in recent years.
Core content of the Pectra upgrade
The Pectra upgrade is another significant update for Ethereum following the Dencun hard fork, including three core updates aimed at further optimizing network performance and the ecosystem.
Smart account wallet feature (EIP-7702): Account abstraction supports batch transactions, gas fee sponsorship, and smart sessions, improving wallet user experience and transaction efficiency.
L2 data storage capacity doubled: Pectra expands Blob transaction capacity, increasing the data throughput of Layer 2 solutions (such as Optimism and Arbitrum) by double, reducing transaction costs.
Validator experience improvement: The upgrade optimizes staking and validation operations, reduces technical barriers, and enhances participation.
In the short term, the Pectra upgrade may gradually increase the activity level of the Ethereum ecosystem. Historical data shows that after the Dencun hard fork, L2 transaction volume grew by 20%. It remains to be seen whether a similar effect will occur this time. However, in the short term, the price of ETH may still be mainly affected by macroeconomic factors (such as Federal Reserve policies and the results of US-China negotiations) rather than technical upgrades.
However, in the long term, Pectra will inject new vitality into the Ethereum ecosystem and further expand its market position.
