The Ethereum development team has announced February and March dates for testing the Ethereum Pectra upgrade targeting the Holesky and Sepolia testnet. Should the results of the tests go as planned, the team expects to hit the Mainnet launch later in April.
According to a tweet by Ethereum developer Tim Beiko detailing the projected dates for upgrading the public Ethereum testnets, the testnet is expected to fork at slot 3,710,976 on Monday, February 24, 2025, at 9:55:12 p.m. UTC. On the other hand, the Sepolia testnet should fork at slot 7,118,848, scheduled for Wednesday, March 5, 2025, at 7:29:36 a.m. UTC.
Pectra Will Introduce Speed and Efficiency
Beiko stated that should everything fall into place and the Sepolia testnet happen smoothly, the Ethereum development team plans to finalize the Mainnet launch date to coincide with the Mach 6 All Core Developers (ACD) call. The Ethereum Pectra Upgrade is expected to bring several speed and efficiency improvements to the world’s second-largest blockchain, whose Mainnet deployment is in March.
The Ethereum Electra upgrade consists of at least eight significant improvements, also known as “Ethereum improvement proposals”, which it combines into one. The most highly anticipated is the EIP-7702, which intends to enhance the wallet user experience. According to the developers, the upgrade will enable user wallets to be programmed like smart contracts, aligning with the broader goal of introducing account abstraction to the Ethereum ecosystem.
Upgrade to Improve Wallet User Experience
Pectra combines eight significant upgrades, or “Ethereum Improvement Proposals” (EIPs), into one. One of the most anticipated changes is EIP-7702, which aims to improve the wallet user experience. The upgrade would allow user wallets to be programmed the same way as smart contracts are and is part of a larger goal of bringing account abstraction to Ethereum, including several features that make creating and using wallets easier.
20 EIPs Initially Targeted
The other highly anticipated change is the EIP-7251, which aims to raise the number of ETH tokens validators can stake from the current 32 to a maximum of 2,048. The Ethereum Pectra Upgrade was initially intended to become the largest-ever upgrade on the Ethereum ecosystem, with plans to introduce at least 20 Ethereum Improvement protocols. However, the fork was split into two – the upcoming upgrade will be the first major one following the Dencum upgrade that was activated in 2024.
Ethereum Faces Identity Crisis
The Ethereum community has recently faced a severe identity crisis, especially in the last few weeks. The network’s native token, Ether, has seriously underperformed compared to other cryptocurrencies, with networks like Solana gaining more attention from users. As the crisis rages on in the cryptocurrency market, the Ethereum Foundation is undergoing a leadership shuffle, with hopes within the community that the upcoming Ethereum Pectra Upgrade will return the network to its former glory.
Conclusion
The Ethereum Pectra Upgrade comes when all eyes are on the network following its recent dismal performance against Bitcoin and other smart contract networks. With arch-rival Solana drawing attention away from Ethereum, Pectra developers will hope that everything works according to plan so they can use the upgrade to reinforce the network’s technical edge, improve the network’s pain points, and enhance the dwindling adoption curve.
Frequently Asked Questions (FAQs)
What is a hard fork on Ethereum?
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Hard forks refer to a split within a blockchain designed to activate major network upgrades. They are necessary because they help improve a blockchain’s security and performance.
How many hard forks have Ethereum had so far?
Ethereum has had several hard forks during its existence. These include the DAO Fork, the Merge, the Shanghai/Capella Fork, and the Pectra upgrade.
What is Ethereum Pectra Upgrade?
Ethereum Pectra upgrade combines two simultaneous upgrades: Prague, the execution layer, and Electra, the consensus layer. The upgrade aims to ensure that both layers evolve harmoniously.
What are the benefits of the upgrade?
The Ethereum Pectra upgrade aims to improve user experience by incorporating innovative contract functionalities into the regular crypto wallet. It also brings efficiency to an area that has always discouraged adoption due to its complexity.
References
Appendix Glossary of Key Terms
Ethereum: Ethereum is a decentralized blockchain with smart contract functionality. Ether (ETH) is the platform’s native cryptocurrency.
Ethereum Improvement Proposals: Also known as EIPs, these proposals provide a means for Ethereum community members to contribute to improving the blockchain.
Hard fork: A change within a blockchain’s programming to create a new blockchain or cryptocurrency or introduce an upgrade.
Wallet: Software, electronic device, or an online service that enables individuals to execute digital transactions.
Smart Contract: A self-executing program that automates the actions required in a blockchain transaction.
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