Vitalik Buterin announced that the Pectra update will arrive in the course of March for Ethereum. What’s going to change?

The founder of Ethereum has come back on an upcoming increase in the number of data blobs per block, which should allow for improved capabilities of layers 2. This is a combination of Prague and Electra updates, one for the execution layer and the second for the consensus layer. With Pectra, a whole series of new features will be brought to Ethereum through different Ethereum Improvement Proposals (EIP).

The update is mainly structural, attacking L2. Indeed, their capabilities will be increased allowing faster increase in network speed and volume without making more radical update.

The update will also have a dramatic impact on portfolios. The lack of clarity and complex handling to carry out transactions will soon be over. This change will take place thanks to the EIP-7702, this nightmare is ending. Existing accounts become smart with a click, without the hassle of migrating. No need to juggle between approvals and executions: a single signature is enough. A revolution for novices, but also for pros. Behind this simplicity is a great news for the adoption of Ethereum. Features such as social retrieval or multiple signatures are no longer reserved for insiders. Even the ERC-4337 protocol, a pioneer of smart accounts, now seems obsolete. Because with the EIP-7702, Ethereum is clearing a major psychological barrier: fear of losing your private keys.

While the price of Ethereum has fallen sharply recently, some are betting that mass adoption of Ethereum has not yet started.