The eagerly awaited Pectra update has occurred on Ethereum! What does it bring for ETH?

The long-awaited Pectra update has been implemented in the largest altcoin Ethereum.

The Pectra update, which includes 11 different Ethereum Improvement Proposals (EIP), is considered the largest update since the Merge upgrade in 2022.

11 Ethereum Improvement Proposal (EIP) Found!

Developers have activated Pectra, the most significant upgrade to the network since Ethereum's 2022 Merge, on the mainnet.

The purpose of the Pectra update is stated to improve staking efficiency, user experience, validator operations, and Layer 2 scalability.

One of the important features of the upgrade is said to increase the amount of ETH that a person can stake from 32 to 2,048.

This change may help speed up and facilitate transactions for stakers who help keep the Ethereum network running.

The Pectra upgrade comes after months of testing and lays the groundwork for future developments like the Fusaka upgrade.

According to Coindesk, although Pectra's main focus points are EIP-7251 and EIP-7702 proposals, there are mostly nine Ethereum Improvement Proposals (EIP) that also affect staking providers, validators, and developers in the package.

"EIP- 2537: Adds a function that can benefit privacy tools, making certain encryption processes faster and more efficient."

EIP- 2935: Facilitates the validation of this data by storing more information about past blocks on the blockchain.

EIP- 6110: It simplifies the participation process for new validators by managing staking deposits more directly within the system.

EIP-7002: Allows validators to initiate direct withdrawals of their funds, thereby improving security and user experience for staking services.

EIP- 7549: Optimizes the way blockchain processes validator votes.

EIP- 7623 : Increases the costs of the call data used for data availability (DA).

EIP- 7685: Establishes a standardized way to convey requests between the execution layer and the consensus layer.

EIP- 7691: Increases the capacity to process more data blocks per block.

EIP- 7840: Provides a configurable setting to manage how much data Ethereum can process per block.

As a result, the Pectra update is expected to have benefits and effects such as increased transaction capacity, reduced transaction fees, ease of use, and improved staking efficiency.