Ethereum’s latest upgrade, Pectra, will be ready to launch in early 2025. Currently in its test net phase, the upgrade includes 10 Ethereum Improvement Proposals (EIPs).
At press time, one Ethereum costs $2,619.66, a 3.3% drop in price in the last 24 hours. According to analysts, the Pectra launch can significantly amplify the price of Ethereum. For more details, check out the Ethereum prediction.
Pectra Upgrade: Boosting Ethereum’s Security and Scalability
The upgrade will address any bugs currently existing in the Proof-Of-Stake blockchain and ensure the blockchain runs efficiently and securely. It will also improve Ethereum’s data availability capacity, which is important for scalability. Third, the update is intended to improve some of the important flaws and user experience in the Ethereum infrastructure.
Due to the vast number of EIPs, the upgrade is still in the test net phase, with developers and stakeholders working to fix shortcomings and improve the user experience.
To accommodate the 10 EIPs, developers have decided to split the Pectra upgrade into two hard forks. The first hard fork will focus on eight EIPs already tested on the developer net.
EIP 7251, one of Petra’s most significant EIP launches, will increase the maximum effective balance of validators, the upper limit of the number of ETHs it takes to stake for a reward, from 32 ETH to 2048 ETH. The upgrade will enable it to combine validators and significantly lower the network’s validator set size, which is greater than one million.
Furthermore, the upgrade will also include EIP 7549, which aims to optimize the performance of the client’s software. EIP 6110, another EIP that will be released in the Pectra upgrade, will work on improving deposit security and the user experience of staking.
The upgrade success is crucial to Ethereum’s status as a leading blockchain platform, as this would help Ethereum accommodate the Web3 ecosystem.
The update was envisioned as a minor update but ended up being the largest update, initially with 20 EIPs. While the main net is said to be released in early 2025, the actual date is yet to be decided and would depend on the developer’s success in completing the scope. Despite the minor roadblocks, it looks like Pectra is well-positioned to improve Ethereum’s decentralization and UX features.