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The recent Ethereum Pectra upgrade is revolutionizing the landscape of decentralized finance by significantly enhancing transaction throughput and wallet functionality.
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This pivotal upgrade not only increases blob capacity but also ensures a smoother transition to smart wallets, underpinning a robust user experience.
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In a recent interview, Pollak stated, “The Pectra upgrade will double Ethereum’s capability to secure L2 transactions”, emphasizing its transformative potential.
This article explores the implications of Ethereum’s Pectra upgrade on transaction throughput, smart wallet evolution, and future developments in the blockchain ecosystem.
Base Eyes Doubling of Throughput With More Blobs Per Block
The long-awaited Ethereum Pectra upgrade hit mainnet on May 7, unlocking powerful new features such as EIP-7702 and increasing blob capacity to support rollup scalability.
For Jesse Pollak, Creator of Base and Head of Protocols at Coinbase, the upgrade signifies more than just a technical enhancement; it embodies Base’s ambition to scale access to the on-chain economy.
Specifically, Pollak noted that Pectra raises Ethereum’s data throughput by expanding the number of blobs per block from 3–6 to 6–9. This change directly impacts Base and other Layer-2 solutions relying on Ethereum for data availability.
“The Pectra upgrade will double Ethereum’s capability to secure L2 transactions, including for Base, from a previous range of 3–6 blobs/block to a new range of 6–9 blobs/block. This means the ecosystem will have the potential to process 2x more transactions per second, keeping fees low as more activity comes on-chain,” Pollak explained.
Launched by Coinbase in 2023, Base has already become a leading Ethereum Layer-2 solution, recently surpassing Arbitrum in total value secured (TVS) metrics.
Pollak confirmed the team is aggressively pursuing a bold throughput milestone.
“We set an aggressive stretch goal at the beginning of the year to scale Base to 250 Mgas/s blockspace throughput—and we’re sprinting to make that happen,” he asserted.
This mission aligns closely with Ethereum’s broader scaling roadmap, where developers like Tim Beiko have indicated that Pectra represents a stepping stone to even greater blob capacity by year-end.
Pectra Turns Wallets Smart—And Base Is Ready
Among Pectra’s most transformative upgrades is EIP-7702, which enables existing Ethereum accounts to upgrade to smart wallets without altering their addresses or losing asset history.
“Pectra’s 7702 allows smart wallet upgrades. Previously, users had to create a new smart wallet to leverage this technology, including gas sponsorship and permissions. Now, anyone can upgrade from a traditional wallet to a smart wallet, maintaining their assets and history with the same address,” Pollak elucidated.
Pollak likened this seamless transition to upgrading from a landline to a smartphone without changing a phone number.
Base has already laid the groundwork for this evolution. In August 2024, Pollak outlined plans for a “dream wallet” aimed at transforming Web2 storage. COINOTAG reported that this prospective dream wallet could exceed existing web2 or on-chain solutions by 10X in terms of security and scalability.
“I sketched out my ‘dream wallet’ that would be ten times better than anything in web2 or on-chain today. We need to solve several tough challenges, but I believe we can achieve this within the next 6-12 months,” Pollak expressed.
With Pectra, that vision is significantly more attainable. Jesse Pollak is dedicated to refining the product to ensure users are comfortable with this unified account experience.
“Users won’t need to start fresh with a new smart wallet and transfer assets; they’ll have the option to upgrade their existing wallet, bringing along all their current assets and identity,” he stated in the interview.
Scaling Beyond Pectra: Fusaka and the Road Ahead
Pollak emphasized that Pectra is merely a milestone on the path to global on-chain scalability. Base, he asserts, actively contributes to Ethereum’s open-source, open-standards future.
“Ethereum is built on open source and open standards, and Base is committed to these principles as a key part of our mission to build in the open,” the Base executive noted.
He credited the Dencun upgrade for first unlocking sub-cent transaction costs, overcoming a significant barrier to onboarding millions of new users.
With Pectra increasing blob space, Pollak highlighted Base’s active participation in the developmental process.
“Base contributed to this upgrade through comprehensive R&D and community engagement,” Pollak revealed.
He addressed Ethereum’s next major progress point, the Fusaka Upgrade, which is expected to add even more blob capacity.
“Our ultimate aim is to maintain low transaction costs as we scale the network, allowing more users to engage with blockchain technology,” he remarked.
A Future of Seamless, Scalable Onchain Access
With Pectra now operational, Base directly benefits from enhanced L1 infrastructure, improving both throughput and user experience.
As Ethereum continues to evolve with upgrades like Fusaka, Base positions itself as a crucial player in the broader ecosystem. Pollak’s vision remains steadfast: to push boundaries, scale responsibly, and onboard the next billion users while preserving affordability and simplicity.
As of now, Base’s total value locked (TVL) stood at $3.705 billion, reflecting a 21% increase from $3.063 billion on May 7. Meanwhile, DEX volume data also indicates heightened user trust and liquidity, underscoring the uptick in DeFi adoption.
