Ethereum’s planned Pectra upgrade, the blockchain’s most significant update since 2022’s “The Merge,” launched today on the Sepolia testnet.
The Ethereum community uses testnets as a way to trial and evaluate major technical updates before they go live, without risking disturbance to the main blockchain or “mainnet,” like a dress rehearsal.
But the launch wasn’t without hitches. Ethereum Foundation core developer Tim Beiko tweeted that his team was “investigating an issue caused by the custom deposit contract on Sepolia.”
He added that, “This has caused some EL clients to have issues, including transactions in blocks.” ‘EL clients’ typically refers to software applications that run on a node within the Ethereum network.
The launch was regarded as a full success, just hours before, with Core Ethereum developer Terence tweeting that Pectra “finalized with a perfect proposal rate” on Sepolia—meaning that all validators successfully proposed every block they were assigned to without missing any.
The news comes after the Pectra project suffered recent technical setbacks. At the end of last month, Ethereum’s core developers attempted to run Pectra on a different testnet, Holesky, but it failed to achieve proper functionality. The Ethereum Foundation brushed off the technical issues surrounding the failure, with core developer Tim Beiko calling the problems “quite trivial and easily patched.”
However, following last month’s misfire, contributors were reportedly implored by some foundation members to manually double-check their code ahead of the Sepolia launch, in a developer meeting reported on by Decrypt.
What is the Pectra upgrade?
Pectra is expected to bring several highly awaited user-facing features, including allowing users to pay their gas fees with cryptocurrencies other than ETH, including stablecoins—something dubbed account abstraction.
It will also increase the number of ETH that users can stake and receive yields on at once from 32 ETH to 2,048 ETH. Some members of the ETH staking industry have predicted that Pectra could lower infrastructure costs by as much as 50%.
Pectra’s release date has yet to be set officially, and Ethereum developers plan to meet on March 6 to discuss Pectra’s mainnet release timeline.
ETH is up 6.5% in the past 24 hours, according to CoinGecko data, but remains down 9.1% week-on-week amid wider crypto market volatility.
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