Ethereum Flat as Devs Prepare for Hooli Testnet Ahead of Pectra Upgrade

Ethereum is preparing for its Pectra upgrade, which aims to stimulate the scalability of the network and offer better strike flexibility, by launching a test network on Monday Codenaam Hoodi. This is after two previous test nets, Holesky and Sepolia, experienced technical problems.

If everything goes according to plan, it can already touch Mainstet on April 25.

The second largest price of cryptocurrency does not seem like this news. In the last 24 hours, the Ethereum price has only been won 0.5% and is currently being traded on just over $ 1,900, according to Coingecko data. Zoom out, ETH has lost 13.3% in the midst of macro pressure of the trade war of President Trump in the past week.

The Pectra uprising will be the third upgrade to the network since the merger in 2022, so that Ethereum went to proof-of-stake of a proof-of-work consensus mechanism. Pectra wants to stimulate the scalability, efficiency and setting up flexibility of Ethereum as it expands the storage capacity for Layer-2 networks. It will also lower the costs.

Previous tests of the upgrade were faced with challenges, in particular Holesky saw an increase in Invalid blocks. As a result, developers are launching Hoodi on Monday, March 17 In the hope it will tackle the problems with the last test network.

Ethereum has become the target of many jokes in the wider crypto community, with fans of other networks that spotted the network because of its slow development speed and ETH’s poor price action. In the past year, according to TradingviewEthereum has lost 52% of its share in the dominance of market capitalization. That is the space for coins such as XRP to win 258.98%.

But slow and stable, the race wins – or so Ethereum Maxis would make other investors believe.

PECTRA strives to enable users to pay gas costs with multiple tokens, including Stablecoins such as USDC. It will also make the sponsorship of third parties possible, with which an entity can pay gas costs on behalf of the user-I that has become enormously important on low-2 scale networks.

In addition, Ethereum – Validators will have a considerably increased capacity for how many tokens they can use – from 32 ETH to 2,048 ETH. The increase is linked to more flexibility for when and how the Ethereum used can be withdrawn.

Pectra will also lay the foundation for social recovery, with which users can rely on trusted contacts to help them gain access to a wallet with which they have forgotten or lost the key.

With this, many believe that Pectra will be the largest upgrade of Ethereum since the merger and One of the greatest in its history.

Once the core developers of Ethereum “Feel confident“In the status of testing, a minstet update is planned at least 30 days after the Hoodi fork. This means that the earliest could see the network that the Pectra -upgrade is live on April 25.

Published by Stacy Elliott.