Ethereum overcomes setbacks, confirms Pectra upgrade for May 7
The post Ethereum overcomes setbacks, confirms Pectra upgrade for May 7 appeared on BitcoinEthereumNews.com.
Ethereum core developers have confirmed that the highly anticipated Pectra upgrade will be deployed on May 7. Nixo Rokish, a member of the Ethereum Foundation’s protocol support team, shared the news in an April 3 post on social media, saying: “Pectra mainnet date confirmed May 7. Let’s gooooo.” Ethereum core contributor Terence further clarified that Pectra would go live at 10:05:11 UTC on May 7. The date effectively replaces the tentative April 30 plan, which was previously under consideration but ultimately discarded. According to Rokish, finalizing that date would not have met the 30-day notice period requested by builders building on top of Ethereum. He explained: “April 30th wasn’t confirmed and I personally also advocated today for May 7th over April 30th because builders building on top of Ethereum had asked for a 30 days heads-up from a confirmed date to fork and confirming April 30th today would have been a 27 day heads up.” Ethereum’s turning point Pectra is seen as a critical update that aims to improve wallet features and enhance the user experience. Industry leaders suggest it could renew the energy within Ethereum’s ecosystem, which has faced mounting pressure in recent months. Tracy Jin, the COO at crypto exchange MEXC, believes the upgrade could reignite on-chain activity by easing transaction costs and improving scalability. She told CryptoSlate: “If the Ethereum network upgrade is not postponed [again], the network scalability will increase and the fees will decrease – this will revive the activity within the network and may become a catalyst for returning to the $3,000 mark.” Ethereum has faced significant challenges recently. In the first quarter of 2025, the asset suffered a 45% decline, marking one of its worst quarterly performances since 2022. The Ethereum community has also expressed concerns about leadership, prompting changes at the Ethereum Foundation.…
Filed under: News - @ April 3, 2025 5:27 pm