Ethereum Pectra, the new Ethereum hard fork, is about to arrive, causing many developers and users to be looking forward to the important improvements that this new update will bring.
The Ethereum ecosystem is preparing for its next evolution with the Pectra hard fork. This new hard fork is shaping up to be a crucial milestone in Ethereum’s roadmap, promising significant improvements that could transform user experience and network capacity.
Pectra will not only be a new hard fork within Ethereum, but will bring real and interesting improvements to the network that will open up new possibilities for developers. Above all, the arrival of smart accounts described in EIP-7702 attracts interest. An improvement that will certainly be appreciated by users and platforms interested in popularizing, facilitating access and ensuring the security of the dApp ecosystem on Ethereum and compatible networks. Without a doubt, these are highly valuable additions to a network that is going through turbulent times in its development and governance.
What is a hard fork and why is Pectra important for Ethereum?
But before we dive deeper into the details of Pectra, it is important to understand the concept of a hard fork in a blockchain. A hard fork is an update to the source code of a blockchain that creates a new blockchain that is incompatible with the previous one. This means that nodes that do not upgrade to the new version will not be able to validate transactions on the updated chain. Hard forks are necessary to implement significant changes to the network, such as security improvements, new functionalities, or solutions to scalability issues.
Ethereum Pectra, scheduled for March 2025, is no exception. Initially conceived as the most ambitious upgrade in Ethereum history, with over 20 Ethereum Improvement Proposals (EIPs), has been divided into two phases for a more gradual and efficient implementation. This decision, although apparently delaying some improvements, allows developers to concentrate on the most critical updates and ensure their correct operation.
Key improvements to Pectra
Although Pectra's initial ambition has been split into two phases, the update still offers substantial improvements. The most important ones are:
- Increase in data availability (blobs): Currently, the network uses three blobs per slot to store data. Pectra doubles this number to six, which represents a significant increase in data storage capacity. While this does not completely solve long-term scalability issues, it does provide temporary relief, allowing layer 2 (L2) solutions to operate more efficiently until more comprehensive upgrades arrive. Mallesh Pai, senior research director at Consensys, has noted that this increase, while welcome, will only be sufficient until the end of the summer.
- Implementation of smart accounts (EIP-7702): This improvement is probably the most noticeable change for regular Ethereum users. EIP-7702 allows existing accounts to migrate to smart accounts (“account abstraction”) with a single click. This significantly simplifies interactions with the network, removing the need to sign two transactions to approve and then perform a trade, a hassle that has long been the subject of criticism. Smart accounts also enable advanced functionality such as social recovery, native multisignatures, and open the door to new user experiences in Web3. It is worth noting that smart accounts already existed through a mechanism (ERC-4337) launched in 2023, but this required the creation of a new wallet. EIP-7702 offers a much more elegant and simple solution, removing the barrier to adoption. The ease of migration to smart accounts represents a fundamental step in increasing the accessibility and mass adoption of Ethereum.
- Increase in maximum staking limit (EIP-7251): Pectra is also increasing the maximum staking limit per validator from 32 ETH to 2048 ETH. Currently, a large ETH holder needs to operate multiple validators to stake their entire amount, which negatively impacts network efficiency. This increase significantly reduces this burden, improving efficiency, and could contribute to greater decentralization in the long run by allowing fewer individuals to secure the majority of the network’s staking.
The path to scalability: PeerDAS on the horizon
While Pectra represents a significant step, Ethereum's scalability remains a considerable challenge. The most significant upgrade to address this issue, dubbed Peer Data Availability Sampling (PeerDAS), is planned for the Fusaka hard fork, later this year or early next year. PeerDAS, similar to P2P downloads (such as torrents), will distribute data verification across multiple nodes, reducing the load on individual nodes and improving overall network efficiency. Vitalik Buterin expects PeerDAS to enable a significant increase in the number of blobs per slot, potentially up to 48 or more in the next year, a crucial development to meet the heightened demands of L2s.
But while Pectra promises notable improvements, it’s important to consider potential concerns as well. Implementing a hard fork always comes with risks, and there are chances of bugs or unexpected issues. The Ethereum community is working diligently to minimize these risks through extensive testing on testnets. Additionally, the need to update nodes and wallets could cause confusion among some users. Good communication and documentation from developers will be critical to ensuring a smooth and successful transition.
In any case, the Pectra hard fork represents a significant step on Ethereum’s path to a more scalable, efficient, and user-friendly network. Improvements to data availability, the introduction of smart accounts, and increased staking maximize on-chain efficiency. While it does not solve all long-term scalability issues, Pectra lays the groundwork for more ambitious future upgrades, such as PeerDAS in the Fusaka hard fork. Successful adoption of Pectra will depend on a smooth implementation and the continued collaboration and engagement of the extensive and vibrant Ethereum community. The future of Ethereum is built with each hard fork, and Pectra is a fundamental brick in this ambitious project.
