$ETH

According to a post by the Ethereum Foundation, the ETH Pectra hard fork upgrade has officially gone live on the mainnet. This upgrade introduces smart account wallet functionality (account abstraction), doubles the L2 data storage capacity, and improves the validator experience, aiming to enhance Ethereum's scalability and user experience.

The Pectra upgrade is another significant update for Ethereum following the Dencun hard fork, featuring three core updates aimed at further optimizing network performance and the ecosystem.

Smart account wallet functionality (EIP-7702): Account abstraction supports batch transactions, sponsored gas fees, and smart sessions, enhancing the wallet user experience and transaction efficiency.

L2 data storage capacity doubled: Pectra expands Blob transaction capacity, doubling the data throughput of Layer 2 solutions (such as Optimism and Arbitrum) and reducing transaction costs.

Validator experience improvement: The upgrade optimizes staking and validation operations, reducing technical barriers and increasing participation.