While Ethereum (ETH) investors had little reason for cheering in recent weeks, there is still hope on the horizon. On 24 February, Ethereum developers took an important step with the pectra upgrade, which was officially activated on the Holesky Testnet. This marks a crucial milestone towards the final rollout on the Ethereum Minnet. But some problems immediately appeared while testing.
What is the pectra upgrade?
Why should we be enthusiastic about the pectra upgrade? Well, for various reasons! The update comes with, among other things, a new and more user-friendly experience for crypto wallets (EIP-7702). In addition, the maximum deployment of validators is increased from 32 to 2.048 ETH (EIP-7251) and, perhaps the most important thing, the maximum Blob size is doubled to improve the scalability of rollups (EIP-7691).
EIP-7691, the upgrade that doubles the Blob size, can mean a huge breakthrough. Blobs are a technique that were only recently introduced, namely with the Dencun Upgrade in 2024. They make it possible to process large amounts of data cheaper and more efficiently on Ethereum. They form, among other things, the backbone of Layer 2 (L2) solutions, such as Optimistic Rollups and ZK-Rollups, which bundle transactions and process the main chain outside the Ethereum.
It may sound a bit technical, but it means that this improvement leads to lower transaction costs and better scalability. And that is exactly what Ethereum needs, especially now that competitors such as Solana (SOL) are gaining ground with their super -fast and cheap transactions.
Finality problems in Holesky
Despite the successful activation, the Holesky test network has to do with a serious problem: the network has not achieved any finalization since the launch of the pectra upgrade. This means that transactions are not definitively confirmed – a high risk for the stability of the network. Developers are busy finding out the cause and testing possible solutions.
The next crucial test is planned for 5 March 2025 on another test network: Sepolia. But if the problems persist on Holesky, this test can be postponed to win extra time. And that in turn can influence the expected mainnet launch in April 2025.
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Source: https://newsbit.nl/ethereum-upgrade-loopt-vast-op-testnet-vertraging-pectra-dreigt/
