The upcoming Pectra upgrade on the Ethereum network is poised to be one of the most significant updates yet. This update will bring in the EVM Object Format (EOF) and implement Vitalik Buterin’s suggested EIP-7702, which will enable Ethereum account addresses to function as smart contract wallets temporarily while conducting transactions. Expected to be launched in the initial months of 2025, the Pectra upgrade is designed to improve user interaction by tackling concerns like transaction fees on Layer 2 platforms. Additionally, it will incorporate approximately 19 EIPs, including modifications like raising the maximum effective balance for validators.
