Ethereum (ETH) Next Major Update: Release Date and Key Features Revealed

<ul>
  <li>Ethereum developers have set the content and date for the next major update following the approval of Spot ETFs.</li>
  <li>The update, named Pectra, is targeted for release by the end of Q1 2025.</li>
  <li>Vitalik Buterin's proposal, EIP-7702, will replace EIP-3074, enhancing the network's flexibility and functionality.</li>
</ul>
<p><strong>Discover the latest developments in Ethereum's network with the upcoming Pectra update, set to revolutionize the blockchain landscape by 2025.</strong></p>
<h2><strong>Pectra Update: A Game-Changer for Ethereum</strong></h2>
<p>The Ethereum main developers have announced that the next significant update, Pectra, is scheduled for release by the end of the first quarter of 2025. This update is poised to bring substantial improvements and new features to the Ethereum network, aiming to enhance its overall functionality and performance.</p>
<h3><strong>Key Features of the Pectra Update</strong></h3>
<p>Pectra will include the Ethereum Virtual Machine (EVM) Object Format (EOF), a collection of approximately 11 Ethereum Improvement Proposals (EIPs) that offer an optional container for EVM code. This critical component is one of the main reasons for the projected 2025 timeline. Another notable feature is PeerDAS, a data availability sampling solution leveraging existing peer-to-peer (P2P) components in Ethereum.</p>
<h3><strong>Vitalik Buterin's EIP-7702 Proposal</strong></h3>
<p>In a significant development, developers have agreed to replace the EIP-3074 account abstraction feature with a newer proposal by Ethereum co-founder Vitalik Buterin, EIP-7702. This proposal allows Externally Owned Accounts (EOA) to function as smart contract wallets during transactions, thereby increasing the network's flexibility and functionality. This change is expected to bring more robust and versatile capabilities to the Ethereum ecosystem.</p>
<h3><strong>Integration of Prag and Electra Updates</strong></h3>
<p>The Pectra update will also encompass the Prag update in the Execution Layer and the Electra update in the Consensus Layer. However, the final scope of the upgrade is still under discussion, with potential changes on the horizon. One such change could be the postponement of the transition to the Verkle tree process to the next Osaka hard fork.</p>
<h3><strong>Conclusion</strong></h3>
<p>The upcoming Pectra update represents a significant milestone for the Ethereum network, promising to bring a host of new features and improvements. As developers continue to refine the details, the crypto community eagerly anticipates the transformative impact of these advancements. With the integration of Vitalik Buterin's EIP-7702 proposal and other key updates, Ethereum is set to enhance its flexibility, functionality, and overall performance, solidifying its position as a leading blockchain platform.</p>