Biggest Changes Coming in Ethereum Super Sized Pectra Upgrade: Ethereum is gearing up for its most significant upgrade yet, known as the Pectra upgrade. This upgrade, combining the Prague and Electra upgrades, is set to roll out in the first quarter of 2025. The Pectra upgrade aims to bring a host of changes to the Ethereum network, enhancing its performance, security, and user experience.
On September 19, 2024, Ethereum developers confirmed their plan to split the Pectra upgrade into two parts. This decision was made to minimize the risk of bugs and ensure a smoother implementation. The first part of the upgrade will include eight Ethereum Improvement Proposals (EIPs), with the second part to follow later.
One of the most anticipated changes in the Pectra upgrade is the increase in the staking limit for validators. Currently, the maximum effective balance for Ethereum validators is 32 ETH. With the Pectra upgrade, this limit will be raised to 2,048 ETH. This change is designed to reduce the rate at which new validators join the network, making it more efficient and secure.
Another significant change is the introduction of EIP-3074, which will improve Ethereum wallets. This proposal allows users to batch their transactions and sign them off in a single step, making the process more efficient. EIP-3074 was approved in April 2024 and will enable normal crypto wallets to function like smart contracts.
The Pectra upgrade will also include improvements to the Ethereum Virtual Machine (EVM). These improvements, known as the EVM Object Format (EOF), will enhance smart contract security and developer experience. EOF will make it easier for developers to create and deploy smart contracts, improving the overall functionality of the Ethereum network.
Peer Data Availability Sampling, or PeerDAS, is another feature expected in the Pectra upgrade. PeerDAS will help scale rollups, which are layer-2 solutions that improve the scalability of the Ethereum network. By enhancing data availability sampling, PeerDAS will make it easier for rollups to process transactions, reducing congestion and lowering fees.
Ethereum developers are also considering replacing EIP-3074 with EIP-7702, a new transaction type proposed by Ethereum co-founder Vitalik Buterin. EIP-7702 aims to enhance account abstraction compatibility, making it easier for users to interact with the Ethereum network. Additionally, developers are discussing a patch for EIP-2935, which addresses the handling of historical block hashes.
The Pectra upgrade is not just about technical improvements. It also aims to enhance the user experience. By introducing new features and improving existing ones, the upgrade will make it easier for users to interact with the Ethereum network. This focus on user experience is crucial as Ethereum continues to grow and attract more users.
The decision to split the Pectra upgrade into two parts was not unexpected. Developers had discussed this possibility for some time, as the upgrade was becoming too ambitious to ship all at once. By splitting it into two parts, developers can focus on a narrower scope and ensure a smoother implementation. The first part of the upgrade is still scheduled for early 2025, with the second part to follow later.
The Pectra upgrade is a significant milestone in Ethereum’s development roadmap. It follows the Dencun upgrade, which occurred in March 2024. Dencun was designed to lower transaction fees for layer-2 solutions and improve Ethereum’s scalability. The Pectra upgrade builds on these improvements, bringing even more enhancements to the network.