WHAT THE HELL IS PECTRA UPGRADE?

If you're still asking this question, this post is for you.

Ethereum Pectra explained in absolute noob terms 🧵

➣ Yesterday's Pectra upgrade was a crucial step in enhancing the network's usability, scalability, and staking efficiency. It introduced 11 Ethereum Improvement Proposals (EIPs).

Here's a breakdown of the main ones ↓

➣ Smart Account Functionality (EIP-7702)

Pectra introduces "smart accounts," enabling regular Ethereum wallets to function like smart contracts. This offers:

- Paying transaction fees with various tokens: Users can now pay gas fees using tokens other than $ETH, such as stables.

- Batching multiple transactions: Multiple actions can be combined into a single transaction, streamlining and speeding up processes.

- Improved security: It introduced features like social recovery and session keys.

Wallets like @AmbireWallet and @TrustWallet have already started integrating these features.

➣ Increased Validator Staking Limits (EIP-7251)

Previously, validators could stake a maximum of 32 $ETH. Pectra raises this limit to 2,048 $ETH. This allows:

- Simpler operations for large stakers, such as institutions and large-scale validators, can now manage fewer nodes cause of the larger size.

- Auto-compounding of staking rewards that allows earnings to be automatically reinvested.

➣ Improved Scalability (EIP-7691)

Pectra improves Ethereum's scalability by increasing the number of data blobs per block. Why it matters:

- It facilitates more efficient rollups, leading to faster and cheaper transactions for L2s.

- It reduces the gas fees by making the network more accessible to users and developers.

IMO, as much as People hate Ethereum, everyone has to admit that Pectra brings lots of new positive triggers and developments for Ethereum and the Ethereum ecosystem.

By users, for users ♥️

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