Pectra, the biggest network upgrade since Dencun, is live on the Sepolia testnet as developers fight key hurdles to make the update ready for the ETH mainnet next month.
Ethereum’s long-awaited Pectra upgrade has officially gone live on the Sepolia testnet, marking a major breakthrough in the network’s development.Â
Notably, the announcement was made on X, confirming that the upgrade was successfully deployed at 7:29 AM UTC on March 5.
Ethereum Pectra Upgrade Live on Sepolia
As announced, the Pectra update brought about several key changes to Ethereum’s staking mechanism, layer-2 scalability, and network efficiency.Â
Now, with the Sepolia update hinted to be the final testnet before the mainnet launch, this deployment moves Ethereum closer to its next major upgrade.Â
Meanwhile, while speaking on launch, one of the leading ethereum core contributors, Terence, related on X that the upgrade was implemented with a perfect proposal rate. This implies that the rollout was very smooth.
However, while Sepolia’s upgrade was successful, there are still concerns regarding the Holesky testnet. The upgrade was activated on Holesky on February 24 but failed to finalize due to unresolved technical problems.Â
Developers are investigating validator balance drains and correlation penalties, which could delay the mainnet launch.
According to Ethereum’s development roadmap, both Holesky and Sepolia need to be successfully upgraded before a mainnet activation date can be selected. The Ethereum All Core Developers call on March 6 is expected to provide more updates on the timeline.
Implications of the Pectra Upgrade for Ethereum’s Future
There is also speculation that the Pectra upgrade could have a broader impact on Ethereum’s ecosystem. For example, analysts believe that it may open up new opportunities for institutional investment, which will mainly be in the form of staked Ethereum exchange-traded funds (ETFs).
In addition, Iliya Kalchev, a crypto analyst, noted that Pectra’s staking flexibility could make Ethereum-based financial products more viable. This aligns with deliberate efforts from organizations like Grayscale to secure approval for staking-integrated ETFs.
Still, with increasing competition from blockchains like Solana, which offers lower fees and faster transactions. Ethereum’s continuous updates remain essential in maintaining its dominance as the second-largest cryptocurrency globally.Â
Many believe the Pectra upgrade could help strengthen Ethereum’s position by attracting more developers and institutional investors.
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