Ethereum Pectra Upgrade Takes Shape as Crucial EIP Approved

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As a seasoned researcher who has closely followed the evolution of Ethereum (ETH), I must say that the recent developments surrounding Pectra (Prague-Electra) have me genuinely excited! The approval of EIP-7691 and EIP-7623, along with the potential inclusion of EIP-7639 and retroactive EIP-4803, promise to significantly enhance Ethereum’s capabilities.

Christine Kim, in her role as vice president at Galaxy Digital, discussed the highlights from the 201st meeting of Ethereum‘s Core Developers, which took place on December 5, 2024. This gathering marked a significant stride towards finalizing Ethereum’s (ETH) plans for Pectra (Prague-Electra), its most substantial update since The Merge. Furthermore, during the Ethereum ACD Consensus call, a critical EIP pertaining to blobs was given the green light.

Ethereum (ETH) devs agreed on major Pectra agenda point

In simple terms, the Blob Throughput Increase proposal, which has been eagerly awaited, will be added to the schedule for the Prague-Electra hard fork of Ethereum, expected between 2025 and 2026. This decision was approved by the Ethereum ACDC committee, as announced by Christine Kim in a recent discussion on X thread.

Concerning PECTRA, the past two weeks have been eventful; here’s the most recent information about Ethereum’s upcoming update:

— Christine Kim (@christine_dkim) December 6, 2024

The Enhanced Incentive Protocol (EIP) is projected to boost the number of data structures, or “blobs,” in a block, thereby enhancing Ethereum’s scalability through Layer 2 (L2) solutions that utilize Layer 1 (L1) data capacity. Upon activation of EIP-7691, the aim and maximum allowed blobs per block will be raised to six and nine respectively.

In the Dencun update, Blob was presented as an innovative data format. It’s designed to store substantial data segments directly on the blockchain for enhanced data management efficiency. Previously, the primary focus and maximum values of the EIP-4844 system followed a 1:2 proportion.

Additionally, EIP-7623, titled “Increase Calldata Cost,” authored by Vitalik Buterin, has been officially added to the Pectra hard fork’s agenda. The purpose of this proposal is to raise the calldata cost, thereby limiting the maximum block size. This adjustment will create space for incorporating more blobs in future blocks.

Instead of focusing on it right now, the proposal EIP-7762, which aims to increase flexibility in the blob gas market during high network congestion, is still under debate and open for more discussions.

What is Pectra and how it will change Ethereum (ETH)

The proposals for Networking EIP-7639 and retroactive EIP-4803 are under consideration for further discussion, potentially making it part of the Pectra project’s plan.

Additionally, it has been reported that the Mekong testnet encountered unexpected issues which have since been resolved. Now, the testing phase is transitioning from Devnets 4 to Devnets 5 and 6.

According to an article by U.Today, the Ethereum Pectra Update boasts the most extensive plan since the post-Merge network. This update involves numerous Ethereum Improvement Proposals (EIPs) and Meta EIPs in total.

Primarily, they focus on improving data handling, interactions between levels L1 and L2, and enhancing the predictability of Ethereum’s (ETH) pricing structure.

In 2025, we anticipate launching the initial stage of the update, followed by the second stage in 2026.

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2024-12-07 17:26