ChainCatcher news, Aave co-founder Stani expressed his market view that Ethereum will have a good start in 2025.The Pectra upgrade will enable EOAs to operate like smart contracts, making smart wallets scalable and providing users with a better user experience and security. The introduction of blob space will significantly enhance scalability. These will dynamically adjust blob limits through the consensus layer, thereby improving Ethereum's DA scalability (mainnet and L2).Pectra is the largest upgrade in terms of the included EIP aspects, representing an important step forward.Bullish.

ChainCatcher news, Galaxy's Vice President of Research Christine Kim summarized the key points from the 201st Ethereum Core Developers Execution (ACDE) conference call:The formal confirmation of Pectra's inclusion in EIP 7691 will double the blob capacity;The EIP 7623, which increases calldata costs, has also been included;The EIP 7762, which increases the minimum blob base fee, has not been included (more discussion may occur in the next ACD);The EIP 7639, which stops providing historical records before the merge, and the EIP 5-4803, which limits transaction gas, may be related to Pectra and are pending further discussion (the former is purely a network change, while the latter is a retrospective EIP that will not change existing client behavior).Additionally, two weeks ago, the Mekong testnet based on the Pectra Devnet 4 specification encountered significant issues, leading all client teams to release fixes. Mekong is now stable, and developers are focused on launching Devnet 5. Developers will discuss the timelines for Devnet 5 and 6 in the Pectra testing conference call next Monday.

ChainCatcher news, Ethereum developers have introduced a temporary test network named Mekong for the Pectra upgrade. This testnet is designed to trial specific code changes before deploying them to other public testnets and ultimately to the mainnet.According to a blog post by Ethereum core developers, the testnet aims to explore the impact of these changes. The post notes that although the testnet will run for a short period, it is considered to be fully functional for Pectra, containing all proposed EIPs. The developers stated, "We may see some minor specification changes or smaller EIPs, but the features included here will make their way into the existing public testnets and eventually into the Ethereum mainnet."Initially, the Pectra upgrade plan included 20 Ethereum Improvement Proposals, but this number has been reduced to about 8. These modifications focus on improving user experience and network efficiency when Pectra launches on the mainnet.Key changes being tested include enhancements to the user experience of crypto wallets and account abstraction, increasing the maximum validator staking limit from 32 ETH to 2,048 ETH, updating deposit and withdrawal mechanisms, and more.

ChainCatcher news, according to The Block, JPMorgan analysts have pointed out several key factors that may affect the cryptocurrency market in the coming months, mentioning technologies, geopolitical issues, and structural events that could drive price volatility. In a research report released on Monday, analysts discussed the seasonal "Uptober" trend, the Federal Reserve's interest rate cuts, the approval of Bitcoin ETF options, and the upcoming Ethereum upgrade known as Pectra.One key conclusion of the report is that October has historically shown strong performance, often referred to as "Uptober," with over 70% of Octobers yielding positive returns for Bitcoin. The analysts wrote, "Although past performance is not indicative of future results, we believe the popularity of 'Uptober' could influence behavior and lead to positive Bitcoin performance this October." Despite the recent interest rate cuts by the Federal Reserve, the analysts noted that the broader cryptocurrency market has yet to see the anticipated positive effects; while a rate-cutting environment typically supports risk assets, the correlation between total cryptocurrency market capitalization and the federal funds rate remains weak at 0.46. Since the Fed's rate cut on September 18, we have not seen a significant rise in cryptocurrency prices due to the cuts, and the market may be waiting for more sustained stability before making a decisive shift.Additionally, the analysts acknowledged that it is difficult to accurately predict how cryptocurrencies will respond to interest rate cycles due to a lack of historical data. Another potential catalyst is the recently approved spot Bitcoin ETF options trading. The analysts expect this could deepen market liquidity and attract new participants. This development could initiate a positive feedback loop, enhancing market structure and making digital assets more accessible to institutional investors. The upcoming Ethereum upgrade, referred to as "Pectra," is also seen as a significant development.The analysts stated, "While Pectra is expected to have a transformative impact on Ethereum's functionality, we believe this upgrade is more structural than a direct price catalyst. The long-term impact of Pectra will be to improve Ethereum's operational efficiency and adoption rates, but it is unlikely to trigger a short-term surge in Ether prices."The analysts concluded that the cryptocurrency market is currently in a wait-and-see mode, looking for clearer macroeconomic or structural catalysts to drive sustained growth. They stated, "We continue to see the crypto ecosystem becoming increasingly sensitive to macro factors, so we are waiting for the next major catalyst to drive the ecosystem's development and enhance retail participation for long-term growth."

ChainCatcher news, according to Decrypt, this week, Ethereum's core developers decided to split the network's next major upgrade, Pectra, into at least two parts, with the first update expected to be released around February 2025.Currently, regardless of which tokens are transferred, Gas fees on Ethereum, Base, Arbitrum, Optimism, and other Layer 2 networks must be paid in ETH. A proposal included in the first part of Pectra, EIP-7702, will effectively end this requirement, allowing users to pay Gas fees with other more versatile cryptocurrencies.Another improvement is EIP-7251, which will allow Ethereum stakers to earn rewards on staked amounts exceeding 32 ETH. For example, users currently staking 40 ETH cannot earn from the additional 8 ETH or gain voting rights. This will significantly reduce the bandwidth requirements for the entire Ethereum network.Additionally, two other proposals included in the initial version of Pectra, EIP-6110 and EIP-7002, will also implement fully automated and permissionless ETH staking pools for the first time. The remainder of Pectra may not arrive until 2026.

ChainCatcher news, according to Cointelegraph, Galaxy cryptocurrency researcher Christine Kim believes that due to the current complexity of the Pectra fork and the increased demand for upgrades, the possibility of splitting into two independent upgrades (Prague upgrade and Electra upgrade) is "very high." Christine Kim previously summarized the 196th Ethereum Core Developers Meeting (ACDE), stating that Ethereum developers are seriously considering executing the Pectra upgrade in two phases.In addition, Christine Kim also added that if developers decide to split the Pectra upgrade into two hard forks, the scope could change significantly. It is reported that Ethereum developers will make a decision on this during the next Ethereum All Core Developers teleconference on September 19.

ChainCatcher news, Galaxy's Vice President of Research Christine Kim published a summary of the 141st Ethereum Core Developers Consensus (ACDC) call.This week, developers discussed modifications to the Ethereum Consensus Layer (CL), various updates to the consensus layer specifications and engine API in the Pectra upgrade (including EIP7251 and Beacon block body, etc.), and how to address the proof computation issues for resource-constrained node operators (primarily Home Stakers) in PeerDAS. PeerDAS Devnet2 is expected to be rebuilt on the basis of the Pectra upgrade, rather than Deneb.

ChainCatcher news, Galaxy's Vice President of Research Christine Kim published a summary of the main points from the 139th Ethereum Core Developers Consensus Meeting (ACDC #139). Debugging for Devnet 2 of the Pectra upgrade is ongoing, and the release date for Devnet 3 is yet to be determined; developers will hold weekly testing update meetings starting Monday to better coordinate the release of Pectra's Devnet; the decision to include EIP-7688 in the Pectra upgrade has been postponed again.

ChainCatcher news, EGalaxy Research Vice President Christine Kim summarized the 193rd Ethereum Core Developer Execution (ACDE) conference call, which discussed the testing progress of the Pectra upgrade, the threat of quantum computers, EIP-7212, and EIP-6110, among other topics.Developers postponed the decision on whether to include EIP-7212 in Pectra, focusing instead on resolving existing code issues. The discussion also covered preparations for Ethereum's resistance to quantum attacks and the proposal for distributing historical data through EIP-4444.

ChainCatcher news, Galaxy's Vice President of Research Christine Kim summarized the 190th Ethereum Core Developer Execution (ACDE) call, where developers shared their latest progress on implementing various code changes, including Ethereum Improvement Proposals (EIPs) 7251 and 7702, as well as the Ethereum Object Format (EOF) and PeerDAS. Beiko also shared a suggested template for EIP discussion threads, and EF Developer Operations Engineer Parithosh Jayanthi highlighted a new GitHub page "eth-clients" for Ethereum mainnet and testnet configurations.In addition, the developers aim to launch the next dedicated testnet for the Pectra upgrade next week. The main specification changes between the previous testnet Devnet 0 and the upcoming testnet are as follows: the addition of EL-triggered validator merge functionality and the replacement of EIP 3074 with EIP 7702.

ChainCatcher news, according to Cointelegraph, as Ethereum is set to undergo the Pectra upgrade in early 2025, Liquid Collective and Obol have released a latest research report revealing several risks associated with this upgrade. The report emphasizes the importance of client, operator, and cloud diversity, while also expressing concerns about the limited adoption of Distributed Validator Technology (DVT). Matt Leisinger, Chief Product Officer of Alluvial, stated that addressing the risks associated with Ethereum staking and protocol-level penalties has become a pressing priority.The report specifically points out that potential bugs in mainstream clients could trigger severe slashing penalties and network instability. In terms of staking, operator diversity is crucial for maintaining network health and preventing single points of failure. Leisinger emphasized that stakers and service providers must rigorously assess relevance, diversity, and risk mitigation measures to address potential risks. Additionally, the report discusses the issue of cloud diversity, calling for widely distributed validators and cloud providers to enhance system resilience. DVT technology is seen as an important means to reduce associated risks and enhance validator resilience. For long-term resilience and institutional adoption, staking configurations should prioritize the diversity of node operators and validators.

ChainCatcher message, Ethereum core developers have agreed to include the EVM Object Format (EOF) in the upcoming Pectra upgrade. As described in EIP-7692, EOF involves about 11 EIPs that provide an optional container for EVM code to improve code verification and introduce new features.If EOF becomes a blocking factor, it will be separated into a different fork to ensure that Pectra can proceed without significant delays. EOF will not be part of the initial version of devnet 1. The Pectra upgrade will also include the account abstraction standard EIP-7702 proposed by Vitalik Buterin. Overall, Pectra is considered a comprehensive upgrade, planned to include 19 EIPs, making it one of the broadest upgrades in Ethereum's history.

ChainCatcher news, Galaxy's Vice President of Research Christine Kim shared the main points from the latest call of Ethereum Core Developers (ACDE), where developers discussed and coordinated changes to the Ethereum Execution Layer (EL).This week, the main discussion points among developers included:A new feature added to the execution API that will allow users to access return data from transactions;The minimum priority fee requirement for Geth;Progress update on Pectra Devnet;Expected timeline for the Pectra upgrade.