Original author: @nobrainflip
Original translation: zhouzhou, BlockBeats
Editor's Note: Ethereum is undergoing a significant upgrade—Pectra, which brings improvements in trading experience, smart wallets, staking mechanisms, and more, focusing on user experience rather than technical aspects to enhance usability. Although ETH is currently underperforming, lagging behind SOL and BTC, its historical rebound capability cannot be overlooked. ETH may experience a rapid rebound, and the upgrade provides an opportunity for its return to the mainstream. The future performance of ETH is worth watching, especially with the emergence of new narratives.
The following is the original content (reorganized for better readability):
The largest upgrade in Ethereum's history just happened two hours ago.
Almost no one is mentioning it right now—but you will feel its impact, just like the price of $ETH will.
This upgrade is called Pectra: what changes does it bring? Why is it significant? What is the next phase for ETH?
May 7th marks the most bullish update for ETH in crypto history—Pectra.
This upgrade is indeed powerful, bringing many long-awaited improvements. But can it solve Ethereum's biggest problem—stagnant prices?
Let's break it down. This upgrade happened today, May 7th, and its focus is—benefiting ordinary users. So, what specific changes will there be?
- Trading Experience (TXs)
- Security Mechanism Updates (Safe Updates)
- Smart Wallets
- Staking Mechanism Optimization
Next, let's take a closer look at the details of each item:
Trading (TXs)
No more cumbersome authorization processes; swapping coins can finally be done in one transaction.
Additionally, you can complete multiple operations in a single transaction.
More importantly, anyone can sponsor transaction fees, meaning you no longer need to hold ETH on every chain.
Security Updates (Safe Updates)
A new feature has been introduced: Spending Control.
This means your wallet can set a daily withdrawal limit.
It will also bring a series of significant security upgrades, making transactions faster and cheaper.
Smart Wallets
A key new feature is: wallet recovery mechanism.
This mechanism is based on Account Abstraction technology.
It allows your wallet to become a smart contract wallet, with programmable logic, making it more flexible and secure.
Staking
The validator staking limit will increase from 32 ETH to 2048 ETH, making staking more flexible and efficient.
It will also support faster deposit recognition and withdrawals through smart contracts.
This means validators and stakers will have greater control over their assets.
Overall, ETH's situation is still not optimistic, as its performance lags behind SOL and BTC.
In fact, ETH is currently at a phase low, while BTC is nearing the $100,000 mark.
But don't forget—no asset will rise or fall forever.
Even so, we shouldn't easily give up on ETH, as it has a historical ability to rebound quickly. We will definitely see a new narrative for Ethereum, just like the previous restaking and many other updates; this narrative may even be the Pectra upgrade itself.
Remember, changes in cryptocurrency happen very quickly: trends come and go.
ETH has the potential to rebound rapidly. That's why I continue to accumulate ETH, and of course, I'm also keeping an eye on other assets like SOL/BTC. (By the way, I currently hold much more ETH than SOL because the risk/reward ratio is better.)
I believe this upgrade brings Ethereum what it has been missing—usability. Ultimately, they are no longer solely focused on smart contracts, scalability, and the ecosystem, but are genuinely starting to pay attention to user experience—so that users won't feel that using MetaMask is a torment after trying Phantom.
This is why I believe this upgrade will quietly become a turning point for Ethereum's return to the mainstream. I don't think Ethereum is the "Nokia" of the crypto world—not at all. I am confident it will still have a significant rebound (even if it may not perform as well as SOL in the coming year).
The current market situation is very favorable: ETH/BTC is at historical lows, and market sentiment is extremely pessimistic.
You would be surprised to find that those spreading negative sentiment will quickly turn into believers during the first real rebound.
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