Ethereum plans to roll out the Pectra upgrade in Q1 2025 as the first major update after the Dencun upgrade. This upgrade, which includes EIP-3074, is designed to improve wallet usability by introducing smart contract-like features.
These include approving multiple transactions at once, paying gas fees in various ERC20 tokens, and improved security and account recovery features.
The introduction of EIP-3074 will not only optimize the user experience but also strengthen the network’s ability to process higher transaction volumes.
Focus on scaling transactions
Ethereum’s current scaling factor is 11.20x, meaning the network has increased its capacity to process transactions more than tenfold compared to its original performance. On the mainnet, the average transaction rate is currently around 30 transactions per second (TPS).
However, by leveraging Layer 2 solutions such as Arbitrum and Optimism, the network can effectively handle over 330 TPS. Peak values from Layer 2 solutions regularly reach over 150 TPS, significantly increasing the efficiency and resilience of the network.
You can read about the current status of Ethereum and what to expect from the start of trading of the Ether Spot ETF in our latest edition of the free Ethereum Report.
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