Bitget App
Trade smarter
Buy cryptoMarketsTradeFuturesEarnSquareMore
Understanding Pectra: Ethereum’s next upgrade

Understanding Pectra: Ethereum’s next upgrade

Odaily2024/06/18 06:20
By:Odaily

Original author: William M. Peaster, Bankless

Original translation: Deng Tong, Golden Finance

Ethereum is always moving forward.

In March 2024, the network launched the Dencun upgrade. Dencun is a fusion of Deneb and Cancun that aims to significantly reduce L2 transaction costs.

What’s next? Pectra is the next major upgrade to Ethereum and it will be even more important than Dencun.

Scheduled to launch in Q4 2024 or Q1 2025, Pectra combines two previously planned upgrades: Prague (for the execution layer) and Electra (for the consensus layer). Through the merger, Pectra aims to bring multiple ambitious improvements to Ethereum, making it more flexible and optimized than ever before.

What does Pectra contain?

Understanding Pectra: Ethereum’s next upgrade image 0

Pectra is more than just a minor upgrade, it’s packed with updates.

Ethereum Improvement Proposals (EIPs) are proposed modifications to Ethereum. They ensure that changes to the network are discussed and agreed upon transparently, with involvement from the community and core developers.

For the Pectra upgrade, there are currently plans to include 9 standard EIPs and one meta-EIP consisting of 11 additional constituent EIPs.

Understanding Pectra: Ethereum’s next upgrade image 1

These EIPs include enhancements to account abstraction, validator operations, and overall network performance. Some of the most notable additions are listed below.

  • EIP-2537 — Introduces precompiles for BLS 12-381 curve operations, making BLS signature operations faster and cheaper, thereby improving accessibility and performance for Ethereum validators and reducing gas costs.

  • EIP-2935 — Implements saving hashes of previous blocks in special storage slots to improve the efficiency and reliability of verifying Ethereum data before stateless execution.

  • EIP-7002 — Allows validators to trigger exits and partial withdrawals via their Execution Layer withdrawal credentials, providing more flexible options for re-staking and staking pools.

  • EIP-7251 — Increases the maximum valid balance of Ethereum validators from 32 ETH to 2048 ETH, reducing the total number of validators required and simplifying the computational load of the network.

  • EIP-7594 — Introducing Peer Data Availability Sampling (PeerDAS) to further optimize L2 and enhance transaction processing and scalability.

  • EIP-7702 — Adds a new transaction type that sets an EOA (Externally Owned Account) code during a transaction, allowing regular wallets to be temporarily converted into smart contract wallets to improve user experience.

  • EIP-7692 — A meta-EIP consisting of 11 constituent EIPs that aims to enhance the EVM Object Format (EOF) to improve contract deployment and execution efficiency.

The New and Improved Ethereum

In the post-Pectra era, Ethereum will meet a wider range of use cases and user needs.

Regular Ethereum accounts will be more programmable, L2 will be more affordable, smart contracts will be more efficient, and validators will be more flexibly managed!

With these enhancements, Ethereum will be better able to handle growing adoption, integrate with other networks, and introduce new features, keeping the platform at the forefront of on-chain innovation.

What happens after Pectra?

Understanding Pectra: Ethereum’s next upgrade image 2

While nothing is set in stone yet, the Ethereum community is eyeing the implementation of Verkle trees in the Osaka upgrade following Pectra.

“I’m really looking forward to Verkle trees,” Vitalik said earlier this year. “They will enable stateless validator clients, which can allow staking nodes to run on almost zero disk space and sync almost instantly — a much better user experience for solo staking.”

That being said, each of Ethereum’s next upgrades will significantly improve the chain’s usability for both users and developers. Ethereum can’t be built in a day, but when it comes to building the future-proof network that Ethereum is enabling, slow and steady is the way to go.

0

Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

PoolX: Earn new token airdrops
Lock your assets and earn 10%+ APR
Lock now!

You may also like

Ethereum Updates Today: Vitalik Buterin: Privacy Should Be Considered Digital Hygiene, Not an Exclusive Privilege

- Ethereum co-founder Vitalik Buterin donated 256 ETH ($800,000) to privacy-focused messaging platforms Session and SimpleX, advancing metadata privacy in digital communication. - The platforms use decentralized infrastructure and avoid centralized identifiers, addressing vulnerabilities in traditional messaging systems through unique approaches like service nodes and user-controlled servers. - Buterin's move counters EU regulatory pressures on encrypted messaging, emphasizing privacy as a fundamental righ

Bitget-RWA2025/11/29 00:50
Ethereum Updates Today: Vitalik Buterin: Privacy Should Be Considered Digital Hygiene, Not an Exclusive Privilege

Bitcoin Latest Updates: Severe Fear Index: A Sign of Impending Crypto Market Rebound?

- Alternative Data's Crypto Fear & Greed Index rose to 20, still reflecting extreme fear despite slight optimism, driven by volatility, volume, and social metrics. - Bitcoin fell 30% from October peaks, with $3.5B ETF outflows and $800M stablecoin exits worsening liquidity risks amid macroeconomic uncertainty. - Bitget CEO Gracy Chen notes extreme fear often precedes market bottoms, citing potential Fed rate cuts (80% priced) as a catalyst for risk-on sentiment. - Altcoins like Kaspa and Ethena saw gains f

Bitget-RWA2025/11/29 00:50
Bitcoin Latest Updates: Severe Fear Index: A Sign of Impending Crypto Market Rebound?

SEC Investigates Crypto Company Connected to Trump for Delayed Disclosures and Management Issues

- SEC investigates Alt5 Sigma over delayed CEO suspension disclosure and $1.5B token swap linked to Trump-backed World Liberty Financial. - Discrepancies in reporting a six-week delay in publicizing Peter Tessopoulos' suspension raise compliance concerns and triggered an 83% stock plunge. - Firm's ties to Eric Trump and $500M transfers to Trump-linked entities amplify scrutiny amid allegations of money laundering facilitation. - Executive dismissals without misconduct claims and governance turmoil highligh

Bitget-RWA2025/11/29 00:26
SEC Investigates Crypto Company Connected to Trump for Delayed Disclosures and Management Issues

Dogecoin News Today: Dogecoin ETFs Struggle to Boost Prices, Underscoring Difficulties in the Altcoin Market

- Dogecoin ETFs (BWOW, GDOG) failed to trigger price recovery, with GDOG's $1.4M day-one volume far below $12M forecasts. - Despite institutional interest in DOGE (7th-largest crypto at $22B), indirect exposure structures lack regulatory protections and face volatility risks. - Technical analysis shows DOGE forming bullish patterns near $0.15, but ETF-driven inflows remain insufficient to break $0.155 resistance. - Altcoin ETFs face uneven reception: Solana/XRP products outperformed DOGE, highlighting chal

Bitget-RWA2025/11/29 00:26
Dogecoin News Today: Dogecoin ETFs Struggle to Boost Prices, Underscoring Difficulties in the Altcoin Market