Ethereum core developers have announced that the highly anticipated Pectra upgrade will be released by the end of Q1 2025. This decision follows the successful deployment of the Dencun upgrade in March 2024 and aims to enable inclusion of more influential users without rushing the release. characteristic.
Strategic Plan for Pectra Upgrades
Developers considered various timelines for the Pectra upgrade, ultimately deciding to delay it until after the Devcon developer summit in Bangkok in November 2024. This strategic delay will allow us to provide a more thoughtful development process and add features that enhance the user experience.
In a recent document, Ethereum developers expressed a preference for a Q1 2025 release, noting that it would minimize the impact of upgrade delays on users and expand the scope to include more important features.
The deployment of the Dencun upgrade on the Goerli testnet highlighted the importance of timing and thorough preparation. Although developers had difficulty reaching an agreement within the expected timeframe, these issues were ultimately resolved and highlighted the need for careful planning for Pectra upgrades.
Focus Areas for Pectra Upgrades
The Pectra upgrade improves both Ethereum’s consensus and execution layers. The main improvement is the integration of PeerDAS, which aims to increase Ethereum’s data availability capacity ahead of the Osaka upgrade.
The Osaka upgrade, a future hard fork, is expected to include features initially planned for Pectra, such as Verkle Trees, a new data structure designed to improve Ethereum’s scalability and decentralization.
At the execution layer meeting, developers discussed the long-standing authentication of the Ethereum account management system, including mechanisms to keep authentication active during transactions and a mechanism to replace EIP-3074 with EIP-7702 to achieve better account abstraction compatibility. Discussed use case support.
The team also considered including Ethereum object types to improve smart contract security and developer experience. They decided to include EIP-7702 and remove EIP-3074 in the next development net, and also discussed the implementation status of various other Ethereum improvement proposals.
Ethereum Layer 2 Network Achieves New TVL High
According to L2BEAT, the total value locked in the Ethereum layer 2 network reached an all-time high of $47.45 billion. Arbitrum One leads with a TVL of $19.3 billion, followed by OP Mainnet with $7.88 billion and Base with $6.94 billion. Other blockchains with over $1 billion in TVL include Blast, Mantle, Linea, and Starknet. Overall, Ethereum Layer 2 TVL surged 17.39% last week.
This bullish trend follows the U.S. Securities and Exchange Commission’s approval of an Ethereum spot exchange-traded fund on May 23, along with ETF applications from issuers such as BlackRock (NYSE:BLK), Fidelity, Grayscale, and VanEck. This is the second spot digital asset ETF approved in the U.S., following the spot Bitcoin ETF in January. These issuers are currently submitting Form S-1s and expect them to be released in the coming weeks.
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