Ethereum main developers are targeting the release of Pectra, the next major update for the Ethereum network, by the end of the first quarter of 2025.
The Pectra update is expected to include the EVM Object Format (EOF), a collection of approximately 11 Ethereum Improvement Proposals (EIPs) that provide an optional container for EVM code. This key component is one of the main reasons for the projected 2025 timeline for the update.
Another key feature of the update is PeerDAS, a data availability sampling solution that leverages existing peer-to-peer (P2P) components in Ethereum.
In a notable development, the developers have agreed to replace the EIP-3074 account abstraction feature with EIP-7702, a newer offering from Ethereum co-founder Vitalik Buterin. EIP-7702 will increase the flexibility and functionality of the network by allowing Externally Owned Accounts (EOA) to function as smart contract wallets during a transaction.
The Pectra update includes the Prague update in the Execution Layer and the Electra update in the Consensus Layer. However, the final scope of the upgrade is still being debated and there are potential changes on the horizon. One of these changes may be to postpone the transition to the Verkle tree until the next Osaka hardfork.
*This is not investment advice.