Bitrabo Editorial
The upcoming Ethereum upgrade known as Prague-Electra or Pectra is anticipated to be one of the largest updates in Ethereum’s history, according to Christine Kim, a researcher at Galaxy Digital. She outlined the code changes in a thread on X, emphasizing how Pectra could bring fundamental changes to Ethereum’s operational and security systems.
Significance of Ethereum Pectra’s Upgrade
Pectra follows the successful deployment of the Dencun upgrade in March 2023, making it a significant progression for the Ethereum network. It incorporates various Ethereum Improvement Proposals (EIPs) focusing on enhancing network functionality, from cryptographic enhancements to system efficiency improvements. Here’s a breakdown of the Prague changes:
- EIP-2537 introduces operations for the BLS12-381 curve to enhance security, cryptographic proofs, and interoperability with the Ethereum Beacon Chain.
- EIP-2935 suggests storing the last 8192 block hashes for stateless execution, paving the way for future scalability improvements.
- EIP-7685 introduces a general-purpose bus for executing EL triggered requests, streamlining code testing processes.
- EOF (Ethereum Object Format) comprises 10 EIPs restructuring EVM bytecode processing for a better dapp developer experience.
- EIP-7702 proposes a new transaction type for Externally Owned Accounts (EOA) to enable transaction batching and more control options.
- EIP-6110 simplifies validator deposits, reducing complexity and delays in processing on the consensus layer.
- EIP-7002 allows validators to trigger exits and withdrawals, enhancing trustless staking pools.
- EIP-7251 and EIP-7549 optimize validator balance configurations and attestation efficiency.
Development Progress and Timeline
Kim mentioned parallel initiatives like PeerDAS and light client development alongside confirmed EIPs for Pectra. The Ethereum governance process now involves staging EIPs for testing on development networks to ensure stability before full deployment. The engagement of the Ethereum developer community is critical in shaping the final Pectra upgrade configuration through discussions, testing, and feedback.
Further implementations on devnets and community reviews are next, with some EIPs potentially deferred to future upgrades based on readiness and impact assessments. The exact scope of Pectra remains uncertain as developers determine the activation of EIPs together or separately. Ethereum’s core development team aims to launch the Pectra upgrade by the first quarter of 2025.
Currently, ETH is trading at $3,807.