Ethereum developers have officially announced the Pectra update is to be released on May 7, 2025. It will be one of the biggest developments in the blockchain since March 2024, CoinMarketCap says.
According to the website, the latest test run went smoothly. The update will introduce 11 significant changes to enhance Ethereum's performance.
One of the most important upgrades is the integration of smart contract functionality to Ethereum wallets, which will make them safer and more convenient, CoinMarketCap says.
EIP-7251, another significant change, will affect staking. Currently, its limit is 32 ETH. Therefore, large validators have to deal with multiple nodes. The update is expected to raise the cap to 2,048 ETH and make the process much easier for institutions and large investors.
Pectra is one of the steps Ethereum developers are taking towards increasing its scalability, decentralization, and usability. Simplifying staking and improving wallet performance could attract more new users and institutional investors, CoinMarketCap notes.