Ethereum developers are poised for a significant advancement with the upcoming Pectra upgrade scheduled for Wednesday. This highly anticipated enhancement is set to introduce the most extensive code modifications to the blockchain since the Merge in 2022.
Pectra, a merger of the names Prague and Electra, is characterized by two simultaneous upgrades occurring on Ethereum’s consensus and execution layers. This dual upgrade aims to improve the user experience and efficiency of the Ethereum blockchain.
Comprising 11 major code changes—or Ethereum Improvement Proposals (EIPs)—the Pectra upgrade will enhance various features across the network. Notably, it will refine the staking experience, introduce innovative wallet functionalities, and enhance the overall operational capacity of the blockchain.
Among the most critical changes is EIP-7702, which enables wallets to possess smart contract capabilities, aligning with a technological trend referred to as “account abstraction.” This pivotal change will empower wallets to incorporate user-friendly features, allowing gas fees to be paid in various currencies beyond just ether (ETH).
Additionally, EIP-7251 is set to simplify the staking process for validators. Post-Pectra, validators will be able to increase their maximum stake from 32 ETH to 2,048 ETH. This allows those who stake across multiple validators to consolidate under a single node, significantly reducing the time it takes to set up a new node and alleviating the complexities often associated with accumulating the necessary equipment.
While some modifications proposed in Pectra have been in the pipeline for several years, developers had initially aimed for a launch in 2024. However, the intricate nature of these code changes necessitated a delay until the first quarter of 2025. Following this initial setback, the upgrade underwent tests on two separate testnets, both of which faced technical challenges, ultimately leading to the need for a third test and subsequent delays.
Ethereum Foundation devops engineer Parithosh Jayanthi encouraged stakeholders, stating, “The Pectra fork is coming to Ethereum mainnet soon! Please don’t forget to update your nodes.”
In the wake of these developments, it’s essential to note that the price of ETH has witnessed a significant drop of nearly 42% over the past 12 months, in contrast to a modest 1.5% dip in the broader CoinDesk 20 Index.
For further reading: Ethereum Developers Lock in May 7 for Pectra Upgrade
