Ethereum’s Pectra upgrade will not involve EIP-3074 which will instead be supplanted by Vitalik Buterin’s new proposal, EIP-7702.
Over a year since the Dencun upgrade went live on Ethereum, attention has shifted to Pectra, which is scheduled for release by early 2025.
After evaluating various timeline options, Ethereum developers said they have decided against rushing a release before Devcon in November 2024. Instead, they’re choosing a more careful approach to incorporate additional user features that can make a significant impact.
Ethereum’s Pectra Upgrade
According to recent statements from Ethereum core developers, Pectra marks the next significant step on the network’s development path following the successful deployment of the Dencun upgrade in March 2023. Pectra will introduce the Ethereum Virtual Machine Object Format (EOF), which will involve around 11 improvement proposals aimed at enhancing EVM code for both Layer 1 and Layer 2 functionalities.
In the upcoming Pectra upgrade, developers are set to introduce EIP-7251, also known as “Increase Max Effective Balance.” This adjustment will enable individual validators to stake up to 2,048 ETH, a significant increase from the current limit of 32 ETH.
By raising the maximum effective validator balance, operators can potentially streamline their management by overseeing fewer but higher-stake validators, thereby reducing complexity.
EIP 3074 Out, 7702 In
The Ethereum community had mixed views on EIP-3074, which aims to enhance the usability of blockchain wallets, drawing both support and reservations. As a result, the developers opted to substitute the account abstraction EIP-3074 with EIP-7702, a new proposal put forward by Vitalik Buterin.
While the concept of account abstraction has been circulating within the Ethereum community for some time, EIP-7702 reportedly brings it closer to implementation.
This proposal outlines a series of adjustments to the Ethereum protocol aimed at facilitating account abstraction. Central to EIP-7702 is the introduction of a novel transaction type termed a “user operation.” Unlike conventional transactions, user operations do not rely on signature authentication; instead, they are authenticated by a smart contract wallet linked to the respective account.
Source: cryptopotato.com
