Pectra update successful on the Sepolia testnet

After the failure that occurred a few weeks ago on the Holesky testnet, today finally brings good news from the test of the Pectra update of Ethereum on Sepolia.

Ethereum: the test of the Pectra update on Sepolia is a success!

Sepolia is one of the various Ethereum testnets, and it is the second testnet where Pectra is tested.

After the failed test on Holesky, the problem was quickly identified and the developers found a solution by writing the new correct code.

Given the speed with which the problem was resolved, there were no delays for the second test scheduled for today.

Sepolia has been active since 2021 and is frequently used to test updates for Ethereum.

Each update must be tested on different testnet to identify any issues before the launch on the mainnet.

The test of today was successful, confirming that the issues encountered on Holesky have been completely resolved.

The Pectra Update of Ethereum

This does not mean that Pectra is already ready for launch on the Ethereum mainnet.

In order for it to be applied, all tests must be completed successfully. For this reason, an official release date has not yet been decided.

No launch date has been published yet on Pectra‘s roadmap.

The name Pectra is a fusion between Prague and Electra, because it combines two upgrades: Prague for the execution layer and Electra for the consensus layer. Both will be activated simultaneously.

This is a hard fork, so the old code will not be compatible with the new one and will be discontinued.

As a result, the update will need to be applied to all Ethereum nodes, both for execution clients and for consensus clients.

All major Ethereum clients will release versions compatible with this hard fork, marked as high priority.

To maintain synchronization with the Ethereum network, node operators will need to ensure they are running a supported client version once the upgrade is active.

The impact on the price of ETH (Ethereum)

In theory, this update should not have any direct impact on ETH.

The only requirement for ETH holders will be to ensure that the wallet software used is updated and compatible with Pectra.

Anyone using a non-custodial wallet will need to personally ensure the update.

After the update, the balances and the ETH held will remain unchanged and accessible as before.

It will be enough to use a compatible wallet with Pectra to continue operating without any visible difference.

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The novelties introduced by Pectra

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Pectra integrates 11 main updates in a single package.

One of the key changes, EIP-6110, will shift the management of deposits from the Consensus Layer (CL) to the Execution Layer (EL).

However, the most relevant update is EIP-7702, which will enhance the user experience of wallet crypto. This change, proposed directly by Vitalik Buterin, will allow wallet to gain some functionalities of smart contract.

The objective is the abstraction of Ethereum accounts, making the use of wallets more simple and intuitive.

Another important update is EIP-7251, which will increase the maximum limit of ETH in staking for validators, raising it from the current 32 ETH to 2,048 ETH.

Although the Pectra update includes many changes, the impact on end users might be less than that of previous updates, such as the transition from Proof-of-Work (PoW) to Proof-of-Stake (PoS) that occurred in 2022.

In fact, Pectra introduces the largest number of EIP in the history of Ethereum updates, but many of these changes are minor, with only a few noteworthy features.

If the update is implemented without issues, as usually happens, end users will notice few changes in the short term.