Ethereum's Pectra hard fork, combining the Prague and Electra updates, introduces significant enhancements to the blockchain ecosystem. According to OKX Ventures, this update is the largest since The Merge, incorporating 11 Ethereum Improvement Proposals (EIPs).
EIP-7691 doubles the blob target and raises the hard cap, significantly reducing gas fees on Layer 1 (L1) and Layer 2 (L2) networks. EIP-7702 enables every externally owned account (EOA) to function as a smart account for a single transaction, introducing features like sponsored gas and stablecoin fee payments.
Validator caps have been increased to 2,048 ETH, alleviating operational burdens for large operators. The introduction of PeerDAS is anticipated to enhance data availability and scalability, particularly for roll-ups. Developers are also considering improvements such as Verkle trees and history expiry.
Industry leaders from Offchain Labs and StarkWare discussed the immediate impacts of Pectra in a recent discussion hosted by OKX Ventures. The focus now shifts to PeerDAS, which is expected to significantly enhance Ethereum's roll-up capabilities. The alignment between modular roll-up stacks and expanding L1 capacity will create a competitive advantage.
Ethereum's roadmap, enriched by the Pectra update, points towards a future where smart-account rails become the default consumer gateway. With PeerDAS poised to further enhance data availability and scalability, Ethereum is set to maintain its position as a leading blockchain platform.
This article is based on our author's analysis of materials taken from the OKX Ventures report.