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Ethereum’s long-awaited Pectra upgrade, also known as Pectra Fork, is finally on the move. Developers have locked in test dates for what could be the biggest network shift in nearly a year. The upgrade, a combination of two separate proposals—Prague and Electra—is expected to roll out in early April, pending successful test runs. The developers have scheduled the first test for February 26 on the Holesky testnet, with a follow-up on Sepolia set for March 5. If these tests run smoothly, the official launch date will be decided on March 6. Tim Beiko, protocol support lead at the Ethereum Foundation, confirmed that all eyes are on an early April deployment. Ethereum Pectra upgrade scheduled for February 24 and March 5 | Source: Tim Beiko This upgrade enhances Ethereum’s core functions, particularly for validators and wallet users. It introduces eight major changes, with a sharp focus on making wallets more user-friendly and allowing validators to stake more efficiently. However, the timing couldn’t be more critical as Ethereum faces mounting pressure from competitors and internal shifts. Wallets Get a Boost with EIP-7702 One of the most anticipated updates in Pectra is EIP-7702, which aims to improve the function of Ethereum wallets. This proposal is part of a larger push for “account abstraction,” an industry-wide effort to make crypto wallets more seamless by allowing users to pay transaction fees in tokens other than ETH. EIP-7702 benefits with Pectra Ethereum upgrade | Source: Ivsti In practical terms, Ethereum’s externally owned accounts (EOAs)—which include most user-controlled wallets—will now support smart contract functionality. That means wallet developers can introduce new features that simplify transactions, security, and usability. Another key improvement, EIP-7251, will give Ethereum validators more flexibility. EIP-7251 simplifies Ethereum staking by reducing validator load | Source: Chaskin The proposal increases the maximum staking limit from…

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Filed under: News - @ February 9, 2025 7:12 pm