Ethereum Pectra Upgrade will begin in 10 minutes

BlockBeats News, May 7th, the Ethereum Pectra upgrade will take place on May 7th at 3:05 AM PT (18:05 Beijing Time today).

The Ethereum Pectra upgrade is another major hard fork following the 2022 Merge and the 2024 Dencun upgrade, integrating improvements at the execution layer (Prague) and the consensus layer (Electra). This upgrade will enhance network scalability, security, efficiency, and user experience. The key objectives include simplifying wallet operations through account abstraction to reduce transaction complexity, optimizing the validator mechanism to increase staking flexibility and reduce network overhead, enhancing L2 scalability by increasing blob capacity and reducing L2 transaction costs, strengthening security by introducing new encryption tools and communication frameworks.