Ethereum core developers are preparing for the “Pectra” upgrade that the community has been eagerly awaiting. According to the statements, the team plans to perform the upgrade by the end of the first quarter of 2025. This major update will introduce the Ethereum Virtual Machine (EVM) Object Format (EOF), which includes approximately 11 Ethereum Improvement Proposals (EIPs). EOF marks a very important development in the evolution of Ethereum. It aims to develop EVM code through an opt-in container system.
Next major Ethereum upgrade coming in Q1 2025
One of the highlights of the Pectra update is PeerDAS, a data availability sampling solution. PeerDAS leverages existing peer-to-peer components in Ethereum to provide efficient data distribution and availability. This innovation addresses existing scale issues. Thus, it aims to increase the flexibility and performance of the network.
Interestingly, developers will replace the EIP-3074 account abstraction with EIP-7702, a more advanced offering from Ethereum co-founder Vitalik Buterin. EIP-7702 enables Externally Owned Accounts (EOAs) to function as smart contract wallets during transactions. Thus, it simplifies the user experience and increases security. “This EIP is designed to be very compatible with end-game account abstraction, without getting too deep into the fine details of ERC-4337 or RIP-7560,” the proposal said.
What will the upgrade bring?
Pectra’s architecture includes two critical components. First is the Prague update to the Execution Layer. The second is the Electra update in the Consensus Layer. Collectively, these updates will optimize transaction processing and network consensus mechanisms. Thus, it aims to provide a more robust and efficient Blockchain. While the final scope of Pectra continues to be debated, some proposals, such as the integration of Verkle trees, may be postponed until a future hard fork called Osaka.
Robinhood CEO announces spot Ethereum ETF is ready to list
cryptokoin.comAs you follow from, the SEC has finally given the green light to spot Ethereum ETFs. Robinhood CEO Vlad Tenev announced that a spot Ethereum ETF will be listed by the commission-free brokerage firm. The exchange will provide this product for retirement accounts in addition to brokerage accounts.
The Spot Ethereum ETF has yet to see any trading activity, even with SEC approval. Over four days, the SEC and stakeholders held discussions as part of the approval process. This fast pace caused several necessary checks to remain pending. Therefore, there is a possibility that the trading opening of the spot Ethereum ETF will be delayed by a few weeks. According to former SEC chairman Jay Clayton, it will be some time before the product begins trading.
To be informed about the latest developments, follow us twitter‘in, Facebookin and InstagramFollow on and Telegram And YouTube Join our channel!