In the near future, the Ethereum network will experience a significant transformation with the introduction of the Pectra upgrade. This update will incorporate the EVM Object Format (EOF) and implement Vitalik Buterin’s suggested EIP-7702, enabling Ethereum account addresses to function as smart contract wallets temporarily while conducting transactions. Scheduled for release in the initial months of 2025, the Pectra upgrade is designed to improve user interaction by tackling concerns like transaction costs on Layer 2 platforms. Additionally, the upgrade will include the integration of approximately 19 EIPs, with modifications such as raising the maximum effective balance for validators.
