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Ethereum Pectra Upgrade Will Integrate EIP-3074 To Enhance User Support

Key Points:

Ethereum developers plan the “Pectra” upgrade following Dencun’s success.
Ethereum Pectra upgrade integrates upgrades across blockchain layers: “Prague” for execution and “Electra” for consensus.
Future upgrades include “verkle trees” to boost node data storage, with a targeted Pectra release by late 2024 or early 2025.

Ethereum developers are gearing up for the next upgrade following the successful Dencun upgrade, aptly named “Pectra.”

Ethereum Pectra Upgrade Was Unveiled

Tim Beiko, a prominent figure in the Ethereum Core Devs community, revealed via X that the upcoming hard fork will incorporate EIP-3074, aimed at enhancing user experience within Ethereum wallets. This proposal allows for batch transactions and simplified signing processes. Additionally, EIP-7251 is expected to raise the staking limit for validators from 32 ETH to 2,048 ETH.

Ethereum Pectra upgrade represents a convergence of upgrades across different layers of the blockchain. The execution layer, undergoing the “Prague” upgrade, and the consensus layer, undergoing the “Electra” upgrade, will both see significant enhancements.

Future Horizons: Ethereum’s Ongoing Development and “Verkle Trees”

EIP-3074 addresses various wallet-related issues, such as transaction batching and backup tools. However, it’s crucial to note distinctions between EIP-3074 and ERC-4337, despite their shared goal of improving wallet user experience. While EIP-3074 maintains the structure of personal wallets, ERC-4337 transforms into Smart Contract Wallets, offering an added layer of security.

EIP-2751, another proposal, aims to manage the influx of new validators, easing operational burdens for larger stakers and paving the way for more efficient resource deployment.

Looking ahead, Ethereum’s future upgrades include “verkle trees,” designed to enhance node data storage capabilities. Despite Ethereum Pectra upgrade anticipated release toward late 2024 or early 2025, the focus remains on incremental progress and ongoing development.

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Harold

With a passion for untangling the complexities of the financial world, I've spent over four years in financial journalism, covering everything from traditional equities to the cutting edge of venture capital. "The financial markets are a fascinating puzzle," I often say, "and I love helping people make sense of them." That's what drives me to bring clear and insightful financial journalism to the readers of Coincu.