GuShiio.com Original title: Pectra upgrade takes the first step. What updates will Ethereum welcome?
Original author: Francesco
Compiled by: Luffy, Foresight News
Ethereum has taken the first step in upgrading Pectra next.
On February 24, Pectra will be upgraded and launched on the Holesky test website; on March 5, Pectra will be launched on the Sepolia test website.
Once these upgrades are successfully implemented on the test network, the upgrade date for the main network will be determined, and it is expected that the main network upgrade will occur within 3 to 9 months after the test network is implemented.
Pectra is a fairly significant upgrade that introduces multiple Ethereum Improvement Proposals (EIPs) at once:
We can divide these upgrades into three key areas:
·Improve Ethereum accounts
·Improve the user experience for Ethereum verifiers
·Expand the processing capabilities of “data Blob”
Let’s take an in-depth look at some of the Ethereum improvement proposals that are about to be introduced and how they will benefit the Ethereum protocol and users.
Improving Ethereum account: EIP-7702
EIP-7702 brings Ethereum closer to the account abstraction experience at the protocol level. It does this by extending smart contract capabilities for Ethereum’s Externally Owned Accounts (EOAs), including:
Transaction batch processing: Performing multiple operations in one transaction
Gas fee sponsorship: Allowing accounts without ETH to be sponsored by others to pay Gas fees
More authentication and recovery mechanisms
Improve the experience of Ethereum verifiers: EIP-7251, EIP-7002, EIP-6110
EIP-7251: Increase the maximum balance of a verifier to 2048 ETH and allow automatic compounding of larger valid pledge rewards. Previously, rewards were calculated based only on the balance of 32 ETH. In addition, larger-scale validators can now merge multiple validators with 32 ETH into one.
EIP-7002: As long as the execution layer address is set to “extractable certificate”, it is allowed to trigger withdrawal operations, thereby reducing the reliance on trust. Prior to this, only the validator could trigger an exit operation.
EIP-6110: Delay of up to 2048 blocks after the validator deposit was canceled until it was added to the queue. Waiting times are expected to be shortened from 9 hours to 13 minutes.
Expand the processing capabilities of “data Blob”: EIP-7691
As the cost of “Blob” becomes higher and higher, the need to expand its processing power also arises. With EIP-7691, the capacity of “data blobs” will be increased by 50%: currently, each Ethereum block can accommodate an average of about 3 “data blobs”(up to 6 during peak demand periods). With EIP-7691, the average number of “data blobs” that can be accommodated in each block will increase to 6 and 9 during peak demand periods.
The next step in further expanding the processing capabilities of Data Blob is to reduce the need to store all Data Blob and migrate to a subnet that can still be used to verify Data Blob data.
Other EIPs included in the Pectra upgrade
EIP-2537: Increase the number of security bits for operations from the current 80 bits to more than 120 bits.
EIP-2935: To welcome the arrival of stateless clients, the proposal recommends storing historical block hashes in state as part of the block processing logic. To achieve this through contract storage, EIP-2935 allows soft transitions without affecting block hashing logic. The second-layer network will be able to leverage longer historical data and directly query storage contracts.
EIP-7549: This proposal refers to improving the efficiency of Casper clients. It achieves this goal by reducing the number of pairings needed to verify consensus. Specifically, it removes one of three elements in the Casper client attestation message: the committee index. By removing this element from the certification message, consensus votes can now be aggregated into blocks more efficiently, increasing the number of votes in a block from 2 periods to 8 periods.
EIP-7623: EIP-7623’s proposal to increase the cost of calling data is one of the most influential upgrades (especially for Layer 2 networks). The proposal aims to adjust the cost of calling data to account for the gap between the average chunk size (100 kb) and the maximum chunk size (7.15 MB). This does not affect ordinary users and only involves transactions that are mainly used to publish data. The increase in costs will be achieved through a base fee that depends on the proportion of Gas fees spent on invoking data operations: this can be achieved by reducing the block size to accommodate more “data blobs” or increasing the Gas limit.
EIP-7685: Introduced a framework to store requests triggered by smart contracts. This allows validators controlled by smart contracts to delegate management operations to the smart contracts, reducing the need for intermediaries.
EIP-7840: Introduce a method to “dynamically adjust the target and maximum number of ‘data blobs’ for each block” through the “blobSchedule” object, rather than passing all values through the API.
This upgrade sends a clear signal from Ethereum. We know that these upgrades were on the agenda a long time ago and are not a response to recent criticism. Still, the upgrade focuses on making the Ethereum network more secure, improving Ethereum accounts and expanding the processing capabilities of “data blobs”, which are consistent with some of the most important development needs.
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