Matrixport: Ethereum Takes Key Step Towards Upgrade with Pectra

BlockBeats News, May 7th, Matrixport released a market commentary on the Ethereum Pectra upgrade, "Ethereum co-founder Vitalik Buterin recently stated that Ethereum will move towards a more concise and robust direction, drawing inspiration from Bitcoin's minimalist design philosophy in the core protocol. Vitalik advocates for simplifying the key code of the consensus layer, enhancing the network's scalability through mature zero-knowledge proof (ZK) and Optimistic Rollup technologies."

"The upcoming Pectra upgrade on May 7th integrates the 'Prague' and 'Electra' upgrade proposals, incorporating 11 Ethereum Improvement Proposals (EIPs), focusing on improving the network's scalability, security, and user experience. Key upgrades include: introducing an account abstraction mechanism (EIP-7702), increasing the validator cap (EIP-7251), and doubling the data block ('Blob') throughput (EIP-7691) to reduce transaction costs on Layer2. Despite some early issues in the testnet phase, Pectra is still seen as a critical step in Ethereum's development journey."