One of the most comprehensive updates for Ethereum
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2,033, known as Pectra, has entered its final testing phase. Following previous technical setbacks, developers have begun trials on a new testnet called Hoodie. Pectra is expected to allow transaction fees on the Ethereum network to be paid using cryptocurrencies other than ETH, leading to enhanced usability and reduced costs. Attention is now focused on the main network application.
Challenges Faced During the Testnet Process
The Ethereum development team initially utilized the Holesky and Sepolia testnets to test the Pectra update. However, these attempts did not yield the anticipated success. Technical inconsistencies were experienced during the first tests on Holesky, while trials on Sepolia were disrupted by an unexpected attack. In response to these failures, a new testnet called Hoodie was created to provide a more controlled and lower-risk environment. The development team aims to gather healthier data and identify potential issues in greater detail in this new setting. The commencement of testing Pectra on Hoodie has rekindled hope within the cryptocurrency community. An announcement made via the everstake.eth account indicated that the update has begun to operate smoothly on the Hoodie testnet. Developers are continuing preparations for transitioning to the main network, utilizing feedback from recent tests on the Hoodie testnet. This phase is crucial for ensuring that the update operates safely and stably for millions of users.
Pectra’s Impact on Transaction Fees
One of Pectra’s most notable innovations will be the ability to pay transaction fees on the Ethereum network not only in ETH but also in other cryptocurrencies. This change will eliminate the need for users to hold extra ETH while conducting transactions across different wallets or tokens. Consequently, user experience will be simplified, and transaction traffic will become more balanced. Another anticipated impact of the update will be noticeable cost reductions. Following the implementation of the Dencun update, Ethereum had already achieved a significant decrease in gas fees. With the integration of Pectra, even more substantial reductions in transaction fees are expected. This could provide a significant advantage for users, particularly in high-traffic areas such as NFTs and DeFi. Successfully completing Pectra will play a critical role in helping Ethereum achieve its scalability goals. Developers prefer to rigorously test such innovations on testnets before implementing them to ensure the network becomes more flexible and user-friendly. All eyes are now on the final integration to the main network.
