Ethereum developers to conduct Pectra hardfork by Q1 2025
The upgrade will introduce more than a dozen suggestions to improve the network
27.05.2024 - 12:38
209
2 min
0
Last updated on Aug 9, 2024
What’s new? Ethereum blockchain developers have scheduled the Pectra upgrade to be released by Q1 2025. Pectra represents the next major upgrade after the successful Dencun hardfork in March, which reduced fees on Layer 2 (L2) networks by 60-90%.
What else is known? The Pectra upgrade will activate about 11 Ethereum Improvement Proposals (EIPs) that will improve the Ethereum Virtual Machine (EVM) code at the base level and in L2 networks.
Among other things, the developers will include in Pectra EIP number 7251, about increasing the maximum effective balance. This change will allow individual validators to stake up to 2048 ETH coins, whereas the current maximum limit is set at 32 ETH.
This will allow operators to manage fewer validators with more ETH in the blockchain, reducing the complexity of the process.
The developers have also decided to replace EIP-3074 for account abstraction with a new proposal, EIP-7702, proposed by Ethereum co-founder Vitalik Buterin.
Vitalik Buterin proposed improved account abstraction in the Pectra upgrade
The upgrade will introduce smart contract functionality directly into wallets
EIP-7702 will introduce a new transaction type that will allow addresses to function as smart contract wallets during transactions and then return to their original state.
Useful material?
Market
According to the founder of TRON, the leading US crypto exchange asked for several hundred million dollars for the listing of TRX
Nov 4, 2024
Incidents
The company conducted fictitious trading for six years to inflate the trading volume of tokens of several companies, receiving payment for these services
Nov 1, 2024
Market
1,5 million addresses have already left applications
Oct 31, 2024
Business
The company began investing in bitcoin in 2020, and since then, the value of its securities has risen by 1700%
Oct 30, 2024
Mining
The Deputy Energy Minister explained that in deficit regions, it is impossible to allocate large capacities for industry enterprises until 2030
Oct 30, 2024
Market
Customers will also be able to withdraw funds to bank accounts using cards
Oct 30, 2024