💎 Detailed summary of Ethereum's Pectra upgrade
Source: MarginATM
1. The importance of Pectra
Pectra, expected to launch in Q1/2025, is the next step in Ethereum's upgrade roadmap, following significant upgrades like The Merge, Shanghai, and Dencun. This upgrade focuses on:
• Increase network performance: Optimize for validators, reduce transaction latency.
• Improve user experience: Add features to make usage easier.
• Support data for Layer 2: Increase accessibility and reduce data storage costs.
2. Key improvements in Pectra
Pectra includes 10 improvement proposals (EIPs) with key highlights:
• EIP 7251: Increase the staking limit from 32 ETH to 2048 ETH to reduce validator overload.
• EIP 7002: Self-custody of staking withdrawals without needing a third party.
• EIP 2537: Merge digital signatures to reduce size and increase transaction processing efficiency.
• EIP 7742: Increase the number of "blobs" per block, supporting Layer 2 data.
• EIP 7702: Add features such as transaction bundling, user fee payment, and spending limits.
3. Impact on user groups
• Validator: Accelerate activation speed, optimize profits by automatically merging rewards, reduce risks with lower slashing costs.
• General users: Bundle transactions to save time and fees, self-custody of withdrawals without intermediaries.
• Developer: Optimize the Ethereum Virtual Machine (EVM), reduce deployment costs, and improve development tools.
4. Preparing for deployment via Mekong Testnet
To ensure success, the Ethereum Foundation launched the Mekong testnet in November 2024:
• Most of Pectra's EIPs have been integrated.
• The Mekong testnet has 110 nodes and 100,000 validators, capable of large-scale testing.
• Key features on Mekong include staking upgrades, improved user interface, and Layer 2 data support.
5. Next steps after Pectra
The Fusaka upgrade, expected to launch in late 2025, will continue to improve:
• Statelessness: Reduce the storage capacity required to operate network nodes.
• Increase gas limit: Process more transactions per block.
• Improve EVM performance: Increase processing speed and reduce transaction costs.
6. The significance of Pectra for Ethereum
The Pectra upgrade will help Ethereum:
• Maintain its position as the leading blockchain platform with over 279 million wallets worldwide.
• Increase scalability, security, and improve user experience.
• Lay the groundwork for further advancements in the Ethereum ecosystem.
Pectra is not just an upgrade, but a significant milestone for Ethereum to meet the growing demand and continue to lead in the blockchain space. 🚀
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