Ethereum Pectra Upgrade Launches on Holesky Testnet Amid Finalization Issues
The Pectra upgrade launched on Ethereum's Holesky testnet on February 25, aimed at enhancing scalability, security, and usability. However, the activation faced issues with unfinalized network slots, hindering transaction irreversibility. Developers are investigating the cause, attributed to a missed specification of the smart contract address for Pectra Request Hash Calculations.
Testing Phase May Delay Sepolia Upgrade
- The next phase involves deploying Pectra on the Sepolia testnet, planned for March 5.
- If Holesky continues having finalization problems, delays in Sepolia's timeline may occur.
- Mainnet activation could potentially happen in April if both testnets perform well.
This is not the first testing issue for Ethereum; the Dencun upgrade also faced finalization problems in January 2024.
Ethereum Transaction Fees Drop to Multi-Year Lows
- Ethereum's supply on centralized exchanges has fallen to 6.38%, the lowest since its inception.
- Transaction fees have decreased to an average of $0.41, down from a high of $15.21 in the past two years.
- Lower fees suggest reduced network congestion, indicating potential stability and groundwork for future growth.