Ethereum is preparing to enter a major upgrade called Pectra, even though an incident on the Holesky test network just occurred. Developers assert that this incident does not affect the progress, and the next testing plan on Sepolia will still take place on March 5.

The Holesky Incident and Ethereum's Reaction

On February 26, the #Holesky test network was launched for testing before Pectra officially launches. However, the system encountered a bug that prevented the transaction confirmation process from completing. This is a rare incident for Ethereum, raising community concerns about the stability of the upcoming upgrade.

However, in a meeting on February 29, Tim Beiko from the Ethereum Foundation stated that this bug is not too serious and has been easily fixed. This allows the development team to confidently continue testing on the Sepolia network as planned.

What's New in Pectra?

When officially launched, #pectra will bring many anticipated improvements:

  • Flexible gas fee payment: Users can use any token, including stablecoins, to pay transaction fees instead of only using ETH as they do now.

  • Smart wallet support: Popular wallets such as MetaMask and Coinbase Wallet can leverage smart contract features to enhance user experience.

  • Improved staking: Independent staking investors can earn rewards from ETH amounts exceeding 32 ETH, while staking pools like Lido or Rocket Pool will significantly reduce bandwidth requirements.

Concerns from the community

Although the Ethereum development team asserts that the Holesky bug does not impact Pectra, some experts still express concerns about the possibility of a recurrence. Jim McDonald, co-founder of Attestant, has called on developers to thoroughly review the entire source code before the next testing phase to ensure no surprises occur.

What Will Happen Next?

If testing on Sepolia goes smoothly on March 5, $ETH may officially launch Pectra in early April. This will be one of the most important upgrades for Ethereum this year, making the platform more user-friendly and accessible to the general public.

Despite many eyes watching, Ethereum is still moving forward. Will Pectra meet expectations and help Ethereum maintain its leading position in the blockchain industry? The answer will be revealed soon.