Ethereum is preparing for a major upgrade called Pectra, despite a recent incident on the Holesky test network. Developers assert that this incident does not affect the progress, and the next testing plan on Sepolia is still set to take place on March 5.
Holesky Incident and Ethereum's Reaction
On February 26, the testing network #Holesky was launched for preliminary checks before the official release of Pectra. However, the system encountered errors that prevented transaction confirmations from being completed. This is a rare incident for Ethereum, raising community concerns about the stability of the upcoming upgrade.
However, in a meeting on February 29, Tim Beiko from the Ethereum Foundation stated that this issue is not too serious and has been easily resolved. This gives the development team confidence to continue testing on the Sepolia network as planned.
What’s New in Pectra?
When officially launched, #pectra will bring many anticipated improvements:
Flexible gas fee payments: Users can use any tokens, including stablecoins, to pay transaction fees instead of just using ETH as is currently the case.
Smart wallet support: Popular wallets like MetaMask and Coinbase Wallet can leverage smart contract features to enhance user experience.
Improved staking: Independent staking investors can earn rewards from the amount of ETH exceeding 32 ETH, while staking pools like Lido or Rocket Pool will significantly reduce bandwidth requirements.
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Concerns from the community
Although the Ethereum development team asserts that the Holesky issue does not affect Pectra, some experts still express concerns about the possibility of a recurring incident. Jim McDonald, co-founder of Attestant, has called on developers to thoroughly check the entire source code before the next testing phase to ensure no surprises occur.
What Will Happen Next?
If testing on Sepolia goes smoothly on March 5, $ETH could officially launch Pectra in early April. This will be one of the most significant upgrades for Ethereum this year, making the platform more user-friendly and accessible to the general public.
Despite many eyes watching, Ethereum is still moving forward. Will Pectra meet expectations and help Ethereum maintain its leading position in the blockchain industry? The answer will soon be revealed in the near future. #anhbacong
