The next upgrade to the Ethereum network, Prague/Electra upgrade, Pectra for short, is expected to bring significant scalability enhancements to Ethereum, incorporating sharding technology and Layer-2 solutions such as rollups. Additionally, security and stability will be boosted through advanced cryptographic methods and improvements to the Proof of Stake (PoS) protocol. The Ethereum Pectra upgrade is scheduled to launch between late 2024 and Q1’ 2025.Learn More
An Overview of Ethereum’s Major Upgrades
The Merge
The Ethereum Mainnet merges with Beacon Chain, completing its transition to a more energy-efficient PoS consensus mechanism.
Proto-danksharding
EIP-4844 proposes a temporary fix for Ethereum's congestion by increasing block size to 2 MB, aiming to lower gas fees and enhance network efficiency.
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Pectra Upgrade
The Pectra upgrade includes updates to both the execution layer, where smart contracts and dApps operate, and the consensus layer, which houses the Proof of Stake mechanism, of the Ethereum network.
How Will the Ethereum Pectra Upgrade Affect Me?
Around 28% of ETH’s total supply is staked at the time of writing. The Pectra upgrade will impact Ethereum staking and is important for Ethereum holders.
Firstly, EIP-7251 will increase the maximum effective balance for validators, enabling them to control more stake without the necessity of running multiple validators. Secondly, EIP-4788 will simplify the withdrawal process for staked ETH, potentially making staking more appealing to a broader range of users. Will the Pectra upgrade affect ETH price? Pectra Upgrade’s impact on ETH price remains to be seen. As always, users should do their own research and make decisions that align with their current financial situation.Learn More
Disclaimer: The Oct launch date is subject to change as more information becomes available.
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