🌎 Ethereum Pectra Upgrade Passes System Contracts Audit

Ethereum Foundation Completes Pectra System Contracts Audit

The Ethereum Foundation has announced the results of the audit conducted on the Pectra system contracts, focusing on three Ethereum Improvement Proposals (EIPs) – EIP-2935, EIP-7002, and EIP-7251. According to the foundation, all significant issues identified during the review have been resolved.

Objective of the Audit

The primary objective of the audit was to assess potential vulnerabilities within the contracts and ensure that the contract logic aligns with the intended functions outlined in the Ethereum Improvement Proposals. This move aims to bring more transparency and security to the Ethereum network.

Pectra Upgrade Overview

The Pectra upgrade, which consolidates 11 EIPs, was deployed on the Holesky testnet on February 24. Although it did not finalize within the expected timeframe, the audit’s success indicates that the upgrade is on track. The key EIP within the upgrade is EIP-7702, which aims to enhance the user experience for crypto wallets by incorporating smart contract functionality, contributing to the broader goal of integrating account abstraction on Ethereum.

Key EIPs in the Upgrade

Some of the major proposals in the upgrade include:

EIP-7702: Enhances user experience for crypto wallets by incorporating smart contract functionality.
EIP-7251: Addresses validator staking by increasing the maximum staking limit from 32 ETH to 2,048 ETH, alleviating the challenge of validators having to distribute stakes across multiple validators when staking more than 32 ETH.

Upcoming Testnets and Mainnet Deployment

Holesky is the first testnet to run a simulation of the Pectra upgrade. The next test is scheduled for the Sepolia testnet on March 5, although there is a possibility of delays. The Pectra mainnet deployment is currently scheduled for April 8.