Ethereum Pectra Upgrade Faces Setback on Holesky Testnet

• Ethereum’s Pectra update failed to complete on the Holesky testnet.
•  The Sepolia testnet has been scheduled for March 5 but could be delayed.

Ethereum’s much-awaited Pectra upgrade was not complete after being live on the Holesky testnet, leaving developers concerned. The hard fork, consisting of 11 Ethereum Improvement Proposals (EIPs), was triggered at 21:55 UTC on Monday but failed to complete its finalization as anticipated.

Finality in blockchain means that transactions eventually get settled and can’t be reversed. Testnets such as Holesky enable developers to identify problems before going live on Ethereum’s mainnet. It is unclear why Pectra couldn’t finalize, with Ethereum developers actively working on the problem on the Eth R&D Discord channel.

Pectra Upgrade Runs into Trouble on Ethereum Testnet

This is not the first failed Ethereum testnet upgrade. There was a similar problem in testing out the Dencun upgrade on the Goerli testnet in January 2024. Despite these mishaps, developers are determined to improve Pectra before its complete deployment.

Pectra brings with it a series of significant updates, headed by EIP-7702. The proposal seeks to enhance the user experience of crypto wallets by streamlining Ethereum user interactions. Another significant enhancement, EIP-7251, seeks to raise the validator’s staking cap from 32 ETH to 2,048 ETH. Validators currently need to split holdings above 32 ETH among multiple nodes. Increasing the top stake limit could simplify validator operations and enhance network performance.

Holesky is one of two testnets being tested with Pectra simulation. The second test is planned for March 5 on the Sepolia testnet, although developers can postpone it based on how serious the Holesky issue is. Christine Kim, Galaxy’s VP of research, said further that remedying finalization failure is a necessary step prior to the upgrade being safely deployed on Ethereum’s mainnet.

As Ethereum core developers held their breaths, the next test on Sepolia is to validate or invalidate Pectra’s preparedness. Provided everything goes smoothly, the upgrade will bring forth substantial improvements to Ethereum staking, wallet experience, and overall network functionality.