Ethereum developers continue to improve the network, maintaining a tradition that has endured since its launch. Since the first update via Homestead, the developers have implemented several hard forks, the latest being Shanghai and Dencun.
Pectra lays the foundation for even more upgrades in Ethereum
The Ethereum community is looking forward to what’s next key update, Pectra, scheduled for late Q1 2025. This hard fork, a significant improvement after Dencun, will incorporate 19 key Ethereum Improvement Proposals (EIPs), collectively addressing issues of scalability, security and user experience.
As mentioned earlier, the Pectra upgrade is part of another strategic approach to Ethereum development. Over the years, developers have introduced incremental improvements while laying the groundwork for larger updates. As it stands, Pectra lays the groundwork for possible on-chain scaling of the mainnet.
From account abstraction to user experience improvement and security
In an article on X, an Ethereum analyst identified several EIPs which will be put online, making the main network more efficient and secure. One of them is EIP-7702, launched by Vitalik Buterin, the co-founder of Ethereum. The proposal will replace EIP-3074 and introduce account abstraction without compromising security.
The account abstraction feature, a key component of Pectra upgrade, allows addresses to temporarily function as smart contracts during transactions. This feature significantly improves user experience and streamlines transactions.
Another proposal that will come online is EIP-7594 or PeerDAS. THE Analyst notes that the upgrade will focus on rollup scalability, boosting the efficiency of Layer 2 platforms such as Base and Arbitrum. Once implemented, the network’s Layer 2 solutions would process even more transactions, helping to reduce gas fees.
Pectra will also implement EIP-7251 or MaxEB, a key change for validators. This EIP will make staking easier and more flexible. The maximum effective balance per validator will increase from 32 ETH to 2,048 ETH. This means that validators will be more flexible in their operations.
Other key EIPs that will come online include those related to EVM Object Format (EOF), and EIP-2537 will improve security and scalability by implementing cryptographic enhancements. THE analyst also identified the integration of EIP-7549, which will make Ethereum more efficient by reducing consensus overhead.
Featured image from Canva, chart from TradingView
