📰 Table Of Contents
Ethereum Pectra Upgrade: Timeline and Impact
Recent announcements from the Ethereum core development team reveal that the highly anticipated Pectra upgrade is set to be released by the end of Q1 2025. This decision comes after the successful deployment of the Dencun upgrade in March 2024.
Deliberation on Timeline Scenarios
Ethereum developers have carefully considered various timeline scenarios for the Pectra upgrade. They have opted to delay the launch until after the Devcon developer summit in November 2024 to ensure a more measured development process and the inclusion of impactful user features.
Focus of the Pectra Upgrade
The Pectra upgrade will concentrate on enhancing both the consensus and execution layers of Ethereum. One significant improvement will be the integration of PeerDAS to enhance Ethereum’s Data Availability capacity.
Execution Layer Meeting Highlights
In the Execution Layer Meeting, the team discussed supporting longstanding authorization use cases in Ethereum’s account management system. They explored mechanisms to maintain authorizations during transactions and considered implementing EOF for improved smart contract security.
Inclusion and Removal of EIPs
Developers discussed including EIP 7702 and removing EIP 3074 in the next development net. They also reviewed the implementation status of various EIPs, such as RIP-1185, and deliberated on adjusting the scope of the next hard fork.
Ethereum TVL Reaches Record High
According to L2BEAT, the total value locked (TVL) in Ethereum Layer 2 networks has surged to a new all-time high of $47.45 billion. Leading the pack is Arbitrum One with a TVL of $19.3 billion, followed by OP Mainnet and Base. The recent bullish trend is attributed to the SEC’s approval of spot Ethereum ETFs.
Ian is a cryptocurrency enthusiast blending humor with professionalism. With an engineering background and a storyteller's heart, he simplifies the blockchain world with sharp analysis and a touch of wit. At Cryptowire, he brings his unique perspective to make digital financial innovation accessible to all.
