Ethereum Spectra Update Set for Q1 2025 Including EIP-7702

Ethereum core developers plan to release Ethereum's latest update, the Pectra update, by the end of Q1 2025. Pectra, short for Prague/Electra, is a network update expected after the Cancun update in March.

Earlier, the developer team expected it to arrive in late 2024 or early 2025.

In the minutes of the meeting published by Tim Beiko, who is responsible for conducting the main protocol meetings for Ethereum, Ethereum developers have proposed to delay the Prague hard fork to Q1 2025. This allows more time to test and expand the scope to include impactful features.

After considering various deployment timelines, including launching Pectra before the DevCon conference in November 2024, deploying after the conference, or waiting until Q1/2025, the team made the final choice.

Some more updated ideas after Cancun, Pectra (Prague + Electra) next dry fork: * Ship Pectra by the end of Q1 2025. * Include PeerDAS for rollups scale. * Include EOF to improve EVM on both L1 and L2.

A longer document inside. We look forward to continuing the conversation. pic.twitter.com/80dJfALaSv

— Georgos Konstantopoulos (@gakonst) May 23, 2024

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With the update scheduled for Q1 2025, the group could avoid rapid growth. Speeding up the process before DevCon, when the Ethereum community gathers globally to introduce critical bugs in a highly publicized event, may face holiday disruption when announcing the update after DevCon.

In addition to setting the timeline, developers have proposed an expansion of Prague's boundaries. As mentioned, regarding consensus, they plan to include PeerDAS to increase Ethereum's data availability capacity before Osaka.

In front of the execution layer, they plan to implement EOF to improve smart contract security and developer experience. Developers intend to replace EIP-3074 with EIP-7702 and package EIP-2935.

The proposed limits aim to reduce the burden on validators' network bandwidth, proactively address potential data availability issues, and enhance Ethereum's scalability and developer experience.

The Ethereum team also mentioned Verkle Tree integration, a data structure change to further expand the ETH network. The update is planned for the 2026 Osaka post-Pektra update.

The upcoming Pectra update is a big milestone for Ethereum, aiming to increase the performance, security and scalability of the network. This is a strategic move not only to answer the growing demand of users and decentralized application (DApp) developers, but also to strengthen Ethereum as a leading blockchain platform.

As Cancun resolves Layer 2 transaction fees, Pectra takes a user-centric approach. It prioritizes improvements to user experience with the aim of making interactions with Ethereum more seamless and flexible.

EIP-3074 vs EIP-7022

EIP-3074 is an Ethereum Improvement Proposal (EIP) designed to improve the interoperability and security of transactions on the Ethereum network. This proposal is particularly useful for simplifying the transaction process and increasing the flexibility of e-wallets using smart contracts.

EIP-3074, while offering benefits, comes with security concerns. Requester contracts designed to act on behalf of a user can be abused if they are not secure. This raises concerns about consumer confidence and the need for careful selection and management of these contracts.

Additionally, the introduction of new transaction types increases overall complexity, potentially confusing users and making it difficult for developers to guarantee transaction security.

Finally, implementing the EIP-3074 at scale requires careful consideration to ensure compatibility with existing systems, adding another technical challenge.

Realizing the limitations of EIP-3074, Vitalik Buterin and other Ethereum core developers introduced a new proposal EIP-7702. This EIP aims to improve upon EIP-3074 by introducing a new type of transaction that allows EOS to function as smart contract wallets.

According to the developers, the EIP-7702 is designed with the future “account summary” feature in mind. Avoids loading this feature with unnecessary details related to ERC-4337. Account abstraction allows wallets to function as smart contracts, enabling features such as multi-factor authentication, social acquisition, and dynamic token transactions for users.

According to Uniswap founder Hayden Adams, the EIP-7702 will be an alternative to the EIP-3074 for added compatibility and quantum resistance. Ethereum is still growing, and will only get better in the coming years.