EIP-2935 and EIP-3074 Confirmed for Inclusion in Ethereum’s “Prague Upgrade”, Deployment by Late 2024 at the Earliest

EIP-2935 and EIP-3074 Confirmed for Inclusion in Ethereum's "Prague Upgrade", Deployment by Late 2024 at the Earliest

EIP-2935 and EIP-3074 Confirmed for Inclusion in Ethereum's "Prague Upgrade", Deployment by Late 2024 at the Earliest

Content Table
Toggle
Ethereum Prague Upgrade (Pectra)
EIP-2935 and EIP-3074
Other Improvement Proposals
Expected Deployment by the end of 2024
Following the completion of the Cancun Upgrade (Dencun), Ethereum developers have begun preparing for the next network upgrade, codenamed “Prague Upgrade (Pectra)”. Continuing the tradition, the upgrade codename for the execution layer (usually named after a city) is “Prague”, while the codename for the consensus layer (usually named after a galaxy) is “Electra”.
According to the meeting minutes compiled by Ethereum core developer Timbeiko, in the 185th biweekly Ethereum All Core Developers Meeting held on Thursday, developers have confirmed the following:
EIP-2935 and EIP-3074 will be included in the Prague Upgrade.
EOF and EIP-7623 have been considered for inclusion on the CFI (consider for inclusion) list.
EIP-7667 will be included in the next Osaka Upgrade.
EIP-3074 is a code change aimed at improving the user experience (UX) of Ethereum wallets. Specifically, the proposal will grant EOA (externally owned accounts) smart contract capabilities, enabling features such as single transaction approvals, batch transactions, wallet asset recovery, and sponsored transactions. Developer cygaar has written a detailed introduction to the principles and functionalities of EIP-3074 in a tweet.
Additionally, the purpose of EIP-2935 is to store historical block hashes in contracts and modify the existing ‘BLOCKHASH’ opcode to retrieve data from this contract. This change will allow Ethereum to more efficiently maintain block hash history, reducing the need for clients to store a large amount of blockchain history and saving disk space.
The improvement proposals included in the Prague Upgrade also feature EIP-7251, which aims to increase the staking limit for validators from 32 ETH to 2,048 ETH—a 64-fold increase. After the proposal is implemented, large staking service providers such as Coinbase or Lido will be able to integrate their Ethereum blockchain validators, while avoiding the need to create new validators every time an additional 32 ETH is staked. This will help alleviate operational burdens for large stakers, consolidate the number of validators on the blockchain, and allow staking providers to deploy fewer resources for staking and validation.
Following Pectra, the anticipated upgrade will include the “Verkle tree”, a new data system designed to assist Ethereum nodes in storing large amounts of data. Developer Timbeiko, in an interview with CoinDesk, stated that developers will strive to release Pectra by the end of 2024 or early 2025.