There is a significant development in the Ethereum ecosystem. Vitalic Botter’s Pectra update will come in March. This upgrade will greatly improve the scalability of Ethereum by increasing the capacity of the network. It is also expected to strengthen Ethereum’s role in the field of decentralized finance (defi). Investors and developers hope that Ethereum will work more efficiently in the future.
Ethereum’s GAS limit is increasing: more transactions, more power!
The Ethereum network increased the GAS limit over 32 million. This development will allow the network to carry out more operations at the same time. At the same time, it can reduce transaction fees and ensure that the network works more efficiently.
Vitalic Botter, this change is critical for the future of Ethereum, he said. Emphasizing that such updates take time in the POS (Proof-of-Stake) system, Buteter said that the community continues to work on long-term scalability solutions. Due to the decentralized nature of Ethereum, such changes require large -scale community support.
How will Pectra update change Ethereum?
Pectra upgrade will significantly increase Ethereum’s trading capacity. The amount of data per block, that is, the “Blob” target will increase from 3 to 6. This will help Layer 2 solutions to perform more operations. In addition, Externally Owned Accounts (EOA) will now be able to work like smart contracts. Thus, users will be able to interact more effectively with decentralized applications (DAPPS).
This can lead to a wider adoption by increasing the ease of use of Ethereum. In addition, scalability problem can be largely solved by decreasing the intensity of the process on the network. Ethereum developers are working on additional updates to make the network more efficient and sustainable. EIP-4444 and Blockchain’s past data are planned to be optimized. This can strengthen the decentralized structure by allowing Ethereum nodes to use less storage space.
ETH price has exceeded $ 2,800! Is there $ 7,000 next?
The price of ETH, after the last decline, increased by 13 %, exceeding the level of $ 2,800 again. Analyst Ali Martinez states that Ethereum should remain above $ 2,700. According to Martinez, a “shoulder-head-omuz” formation occurs in the Ethereum price graph. If this formation does not break, he argues that ETH can rise up to $ 7,000. Investors carefully monitor whether Ethereum can maintain these levels in the coming days.
If the market is supported by positive developments, it may be a strong bull rally in front of Ethereum. The Pectra update and the increasing GAS limit indicate a critical period for Ethereum. These upgrades can offer great opportunities for both investors and developers. However, the main factor that will determine the price movements will be how the market will react to these updates.
