Ethereum's Pectra upgrade goes live today, May 7, 2025, introducing three key proposals: EIP-7702, EIP-7251, and EIP-7691. EIP-7702 allows externally owned accounts to function as smart contracts, covering gas expenses in tokens other than Ether. EIP-7251 increases the validator staking limit to 2,048 ETH, simplifying operations for large stakers. EIP-7691 enhances layer-2 scalability by increasing the number of data blobs per block, thereby potentially lowering transaction fees. Industry experts view these changes as enabling a more user-friendly experience akin to Web2 by simplifying interactions and reducing the need for constant confirmations for transactions. However, caution is advised, as it also introduces risks associated with new signing functionalities. The upgrade also introduces EIP-6110, which improves how validator deposits are recorded in Ethereum’s consensus layer. Overall, the upgrade aims to enhance Ethereum's scalability, security, and user experience.

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