The Ethereum Pectra upgrade is set to be implemented on May 7th at 3:05 AM Pacific Time (UTC+8 18:05), following the successful Merge and Dencun upgrades. This hard fork aims to enhance scalability, security, efficiency, and user experience across the network. The Pectra upgrade introduces two key components: Prague for execution layer improvements and Electra for consensus layer enhancements. Key objectives include streamlining wallet operations through account abstraction, simplifying transaction processes, enhancing validator flexibility for increased staking options, and reducing overall network load.
Moreover, the upgrade focuses on Layer 2 scalability by boosting blob capacity and lowering transaction costs. Security enhancements are also a priority, with new cryptographic tools and communication frameworks introduced to strengthen the network.