The Ethereum network is gearing up for a major upgrade known as Pectra, which will incorporate the EVM Object Format (EOF) and introduce Vitalik Buterin’s suggested EIP-7702. This will enable Ethereum account addresses to function as smart contract wallets temporarily during transactions. The Pectra upgrade is scheduled to be implemented in the first quarter of 2025, with the goal of improving user experience by tackling issues like transaction fees on Layer 2 platforms. It will also include the integration of approximately 19 EIPs, including adjustments like raising the maximum effective balance for validators.
