After successfully completing the Dencun upgrade, the Ethereum team is planning to launch a new upgrade, "Pectra". This upgrade combines the two major upgrades of "Prague" on the execution layer and "Electra" on the consensus layer, aiming to comprehensively improve the performance of Ethereum.
In addition to these upgrades, Ethereum also plans to launch "Verkle trees" in the future to better manage node data storage. The Pectra upgrade is targeted to be completed by the end of 2024 or early 2025.
Ethereum's Pectra upgrade is a major technological leap. It covers improvements at multiple levels of the blockchain, the most important of which is the EIP-3074 proposal, which will make the experience of using Ethereum wallets better. This proposal allows users to batch transactions and simplify the signature process, making transactions more convenient.
At the same time, the EIP-7251 proposal has also attracted much attention, which increases the validator's staking limit from 32 ETH to 2,048 ETH. This means that large staking providers like Coinbase or Lido can manage their validators more efficiently and reduce the trouble of constantly creating new validators for each additional 32 ETH stake.
The name "Pectra" comes from the combination of the "Prague" upgrade of the execution layer and the "Electra" upgrade of the consensus layer. This fusion upgrade means that Ethereum will usher in a new leap in both technology and performance.
Although the specific content of the Pectra upgrade has not yet been finalized, the Ethereum team has revealed some of the improvements that may be included. For example, it may trigger validators to withdraw funds from smart contracts or add some new code precompilation functions.
Ethereum will also introduce the "Verkle tree" technology, a new way of data storage that will greatly enhance the data storage capacity of nodes.
Ethereum’s Pectra upgrade is a comprehensive technological innovation that will improve Ethereum’s performance and user experience, laying the foundation for greater upgrades in the future. We expect this upgrade to bring better blockchain services and make the Ethereum ecosystem more prosperous.
