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Ethereum's Pectra Upgrade Set for Q1 2025

Ethereum core development team reveal that the long-awaited Pectra upgrade is slated for release by the end of Q1 2025
May 27, 2024

The Ethereum community is abuzz with anticipation as the Ethereum core development team announces the forthcoming Pectra upgrade, slated for release by the end of Q1 2025. This news follows the successful deployment of the Dencun upgrade in March 2024. However, rather than rushing its release, the team has opted for a deliberate approach, aiming to incorporate more impactful user features into Pectra.

Delving into the details, Ethereum developers have carefully evaluated various timeline scenarios for the Pectra upgrade. They have decided to delay the launch until after the Devcon developer summit scheduled for November 2024 in Bangkok. This strategic move allows for a more measured development process and provides an opportunity to integrate additional features aimed at enhancing user experience.

The Pectra upgrade will focus on bolstering both the consensus and execution layers. Notable improvements include the integration of PeerDAS to enhance Ethereum's Data Availability capacity, paving the way for the Osaka upgrade. The Osaka hard fork, expected to follow Pectra, will likely introduce features initially considered for Pectra but postponed for refinement. Among these features is the implementation of Verkle Trees, designed to enhance Ethereum's scalability and decentralization.

Meanwhile, recent discussions in the Execution Layer Meeting have centered on supporting long standing authorization use cases in Ethereum's account management system. The team explored mechanisms to maintain authorizations during transactions and proposed enhancements like Ethereum Object Format (EOF) to improve smart contract security and developer experience.

In other developments, Ethereum Layer 2 networks have witnessed a surge in total value locked (TVL), reaching a new all-time high of $47.45 billion. This bullish trend has been propelled by the SEC's approval of spot Ethereum exchange-traded funds (ETFs) and the subsequent ETF applications from major issuers like BlackRock and Fidelity.

As Ethereum gears up for its next evolution with the Pectra upgrade, the community eagerly anticipates the enhancements and innovations that lie ahead, underscoring Ethereum's position as a leading force in the blockchain landscape.

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