Developers

Ethereum developers activate the Pectra upgrade, which includes 11 improvements such as enhanced staking efficiency and improved Layer 2 scalability

ChainCatcher news, according to The Block, the Ethereum mainnet successfully activated the Pectra upgrade at 6:05 AM Eastern Time, marking the most significant network update since the Merge in 2022.This hard fork includes 11 EIP improvement proposals, primarily focusing on three major areas: enhancing staking efficiency, optimizing user experience, and improving Layer2 scalability. The successful deployment of the testnet Hoodi in March laid the foundation for this upgrade. Pectra sets the stage for the Fusaka upgrade, which will introduce key technologies such as Verkle Trees and PeerDAS.Among the highlights of this upgrade is the EIP-7702 account abstraction scheme, which allows regular wallets to temporarily execute smart contract functions. In the future, users will be able to experience innovative features such as third-party payment of Gas fees, batch transaction packaging, and even recovery of lost private keys through social contacts. In terms of the staking mechanism, the ETH staking limit for a single validator node has been significantly increased from 32 to 2048, allowing institutional stakers to reduce operational complexity through node merging.For Layer2 scalability, the Blob data capacity per block has doubled to 6 (peaking at 9), and the proto-danksharding technology based on last year's Dencun upgrade continues to deepen, which is expected to reduce transaction costs on Rollup chains like Arbitrum by over 90%. The technical team has also addressed several long-standing pain points: the activation time for validator nodes has been reduced from 12 hours to 13 minutes, the execution layer can directly control node exits to enhance key security, and the on-chain storage of historical block hash data has improved the reliability of decentralized oracles.

Trader Eugene: The recent structural decline of active developers is concerning, and the crypto market is陷入 a self-reinforcing cycle in the short term

ChainCatcher news, trader Eugene posted, "The introduction of global trade tariffs marks a change in the world order that has not been seen in over 50 years. Free trade has always been a key factor driving productivity and economic growth, contributing to the largest long-term bull market in history. The shift from openness to a protectionist stance will have profound effects, which will take years to gradually manifest, unless Trump completely abandons his tariff plans. I think the likelihood of that is very low. This will pose significant long-term resistance to global risk assets.In terms of cryptocurrency, the recent structural decline in active developers may be the most concerning thing. In the last cycle, we could observe developer activity and feel reassured because we knew our industry was still benefiting from long-term tailwinds. Fast forward 2-3 years later, and we have not produced anything particularly interesting or important, and the outlook for the future is even worse than it was then.In the last cycle, we looked forward to the launch of ETFs and a better regulatory environment under government support for cryptocurrencies as a light at the end of the tunnel. Now that these have been realized, but (once again) have failed to meet expectations, I see no future that can free cryptocurrency from its inherent 'Ouroboros' (self-circling, self-consuming dilemma).In the coming weeks to months, I hope to reduce operations in the cryptocurrency space, whether bullish or bearish, as I believe this is the wisest choice. Being a believer waiting for a new bull market is no longer contrarian thinking. However, starting to explore new greenfields (undeveloped areas) is indeed contrarian.For me, the only bright spot is that the use cases and global acceptance of Bitcoin are stronger than ever, which may encourage believers to continue hoarding Bitcoin and achieve decent returns (I hope so). The idea of Bitcoin reaching $1 million per coin by 2035 is not a fantasy in my view."
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