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Home»ETHEREUM NEWS»3 major EIPs to be released
ETHEREUM NEWS

3 major EIPs to be released

By Crypto FlexsJune 8, 20242 Mins Read
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3 major EIPs to be released
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Ethereum developers continue to improve the network while maintaining a tradition that has existed since its launch. Since the first update with Homestead, the developers have implemented several hard forks, the latest being Shanghai and Dencun.

Pectra lays the foundation for further upgrades on Ethereum.

The Ethereum community is eagerly anticipating what’s next. key Update, Pectra is scheduled for late Q1 2025. This hard fork, a significant improvement since Dencun, integrates 19 core Ethereum Improvement Proposals (EIPs) to comprehensively address scalability, security, and user experience issues.

As mentioned earlier, the Pectra upgrade is part of another strategic approach by Ethereum to development. Over the years, developers have introduced incremental improvements, laying the groundwork for larger updates. As is, Pectra lays the foundation for the final on-chain expansion of the mainnet.

From account abstraction to enhancing user experience and security

From a post by Ethereum analyst Confirmed Multiple EIPs will be activated, further improving the performance and security of the mainnet. One of them is EIP-7702 developed by Ethereum co-founder Vitalik Buterin. This proposal replaces EIP-3074 and introduces account abstraction without compromising security.

The account abstraction feature key As a component of the Pectra upgrade, addresses can temporarily function as smart contracts during transactions.. This feature significantly improves user experience and simplifies transactions.

Ethereum price is trending upward on the daily chart | Source: ETHUSDT on Binance, TradingView

Another proposal to be released is EIP-7594, or PeerDAS. that much analyst It says the upgrade will focus on rollup scalability, further increasing the efficiency of layer 2 platforms like Base and Arbitrum. Once implemented, the network’s Layer 2 solution will help lower gas fees by processing more transactions.

Pectra will also implement EIP-7251, or MaxEB, a major change to the validator. This EIP makes staking easier and more flexible. Maximum effective balance per validator increases from 32 ETH to 2,048 ETH. this This means that validator operations become more flexible.

Other key EIPs to be activated include those related to: EVM object format (EOF) and EIP-2537 implements encryption improvements to enhance security and scalability. that much analyst We also confirmed the integration of EIP-7549, which will make Ethereum more efficient by reducing consensus overhead.

Featured image from Canva, chart from TradingView

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