Ethereum is gearing up for one of its most significant network upgrades with the launch of the Hoodi testnet. This move comes as part of the final testing phase before the Pectra upgrade is deployed on the mainnet, which is expected to happen at least 30 days after Hoodi successfully forks.
The much-anticipated Pectra upgrade is currently scheduled for late April, marking a crucial milestone for Ethereum’s ongoing development. In preparation for this transition, Ethereum has been rigorously testing various features on different testnets. Recent test deployments took place on Holesky on February 24 and Sepolia on March 5. Now, Ethereum is set to introduce another testnet, Hoodi, on March 17. According to Ethereum developer Tim Beiko, this testnet will primarily evaluate validator exits. If Hoodi performs as expected, Pectra’s deployment on the mainnet will follow approximately a month later.
One of the standout features of the Pectra upgrade is the introduction of account abstraction through EIP-7702. This enhancement will allow users to pay transaction fees using alternative cryptocurrencies, such as USD Coin (USDC), rather than being restricted to Ether (ETH). This change aims to make Ethereum transactions more accessible and convenient, particularly for users who prefer stablecoins.
Another significant improvement in the upgrade is the Staking Enhancements proposal, EIP-7251. This proposal will substantially increase the validator staking limit from 32 ETH to 2048 ETH, a move designed to enhance network security and efficiency.
Beyond these headline changes, Pectra will incorporate several other Ethereum Improvement Proposals (EIPs) aimed at refining different aspects of the network. EIP-7691 is expected to improve transaction scalability and help reduce network congestion. EIP-7623 focuses on privacy enhancements, enabling users to obscure specific transaction details for better confidentiality. EIP-2537 is geared toward optimizing contract execution, cutting down gas costs, and improving the overall efficiency of smart contract operations. Lastly, EIP-7549 will work to enhance interoperability among various Ethereum layer 2 networks, fostering better integration within the ecosystem.
With these updates, Ethereum is taking a significant step forward in scalability, efficiency, and user experience. The Hoodi testnet will play a crucial role in ensuring the smooth deployment of Pectra on the mainnet, reinforcing Ethereum’s position as the leading blockchain platform for decentralized applications and smart contracts. As the community eagerly anticipates the outcome of Hoodi’s tests, the success of this phase will determine how soon Ethereum users can benefit from the much-anticipated Pectra upgrade.
By Alejandro Silva Ramírez, Crypto Analyst & Columnist