Ethereum Staking Revolution: The Era of 2048 ETH Has Arrived!

Written by: Consensys

Translated by: Nicky, Foresight News

The Ethereum Pectra upgrade will take place today at 18:05 Beijing time, marking the first upgrade since the Cancun upgrade in March last year. This upgrade includes a staggering increase in the maximum staking limit for validators, soaring 64 times to 2048 ETH (EIP - 7251). Can whale assets reshape the Ethereum network landscape? Meanwhile, the execution layer directly opens up the self-exit rights for validators (EIP - 7002). Will the exit mechanism take over the lifecycle of Ethereum?

What is Pectra

Since its inception, Ethereum's goal has been to create a new decentralized trust foundation to build a new global settlement system. To achieve this goal, the Ethereum developer community has continuously evolved the protocol, implementing approximately 15 updates to core technology. The 16th update — Pectra, is another significant upgrade to the Ethereum network, scheduled to officially launch on May 7, 2025.

Pectra combines two synergistic updates: the Prague execution layer hard fork and the Electra consensus layer upgrade. Pectra is the first upgrade since the Cancun (Dencun) upgrade in March 2024 and will become the most feature-rich upgrade in Ethereum's history, planning to incorporate 11 Ethereum Improvement Proposals (EIPs). These EIPs will collectively bring key features that drive Ethereum's development: significant updates to the core user experience through the implementation of smart accounts and delegation functions; upgrades to staking functionality, making it easier for institutional and individual investors to secure the network; and substantial improvements in integration with Layer 2 networks (L2), potentially doubling network efficiency. Overall, Pectra is a major and exciting update that will change the face of Web3.

Behind the technology and EIPs, these upgrades will make Ethereum faster, more user-friendly, and more efficient. The core user interface of the network — wallets, will see the most significant improvement in network history with the introduction of smart accounts. Smart accounts allow end-user accounts to operate like smart contracts, essentially turning every wallet into a programmable platform that meets user needs. The staking functionality will undergo a significant enterprise-level update, increasing the funding cap by 64 times and introducing new features such as incremental staking balances. This will make it easier for institutions to establish and manage their validation nodes while significantly reducing unnecessary network overhead. For Layer 2 networks (L2), the available space for data blobs will double, achieving a performance boost from the outset, thereby reducing costs and speeding up transaction times.

"Pectra marks a new phase for Ethereum, proving that the protocol is continuously evolving!" — Mehdi AOUADI, Senior Protocol Engineer at Consensys said.

Ethereum's Continuous Evolution Through Hard Forks

Ethereum is one of the most active networks globally: it brings together a large and focused group of developers dedicated to its advancement. Therefore, Ethereum is always in a state of continuous evolution to enhance scalability, security, and user-friendliness. These improvements are achieved through hard forks, which are protocol upgrades that cover the entire network and adjust Ethereum's operational mechanisms. Hard forks are not backward compatible, meaning all node operators must update their software to stay in sync with the network. These upgrades may involve adjustments to the execution layer (the layer that processes transactions and smart contracts), the consensus layer (responsible for block validation and staking), or both.

In the past two years, Ethereum has completed three major hard forks: The Merge, Shanghai/Capella, and Cancun (Dencun). Each hard fork has played a crucial role in Ethereum's long-term roadmap. The Merge completed the transition to Proof of Stake (PoS), significantly reducing energy consumption. Shanghai/Capella unlocked the validator withdrawal feature, solidifying the staking mechanism. Cancun introduced blob transactions, significantly reducing rollup costs and initiating Ethereum's rollup-centric scaling strategy.

Upgrades to the Ethereum network are implemented through Ethereum Improvement Proposals (EIPs): these are open-source project proposals, collaboratively refined and ultimately realized by the community. The number of EIPs included in the Pectra upgrade sets a historical record, with all proposals focusing on optimizing three core areas: user experience (UX), staking, and Layer 2 networks (L2).

"Upgrades like Pectra may seem like technical updates on the surface, but they are making Ethereum more user-friendly, scalable, and aligned with user habits." — Tian Lim, Director of Technical Project Management at Consensys said.

The Future Roadmap for Ethereum's Global Financial Settlement

These upgrade initiatives are in line with Ethereum's grander vision, which is built around six roadmap phases: The Merge, The Surge, The Scourge, The Verge, The Purge, and The Splurge. These phases focus on sustainability, scalability, censorship resistance, state optimization, and overall refinement. As Ethereum gradually advances through these phases, each hard fork will become an important milestone in driving the protocol toward its goals.

At the core of this roadmap is a grand and increasingly feasible ambition: to make Ethereum the global financial settlement layer. To create a platform capable of securely and efficiently processing various transactions, whether micropayments, token transfers, cross-chain transactions, decentralized lending, or institutional staking services, all operations can be completed on-chain, achieving seamless integration on a global scale. To achieve this goal, Ethereum must continuously enhance performance, reduce costs, and support a seamless user experience without compromising decentralization.

Today, Ethereum is preparing for its next major upgrade — Pectra, which will build on the foundation laid by previous hard forks. Next, let’s delve into all the Ethereum Improvement Proposals (EIPs) planned for the Pectra upgrade.

Progress of Each Phase in the Ethereum Roadmap

• The Merge: Completed (September 2022)

Transitioned from Proof of Work to Proof of Stake. This shift brought significant energy efficiency improvements and laid the groundwork for staking functionality.

• The Surge: Ongoing (Cancun upgrade completed, Pectra upgrade in progress)

Focus: Achieving scalability through rollups and data availability.

Key upgrades: Proto-danksharding (EIP - 4844), blob transactions (introduced in the Cancun upgrade), increased blob capacity (planned for the Pectra upgrade).

• The Scourge

Focus: Minimizing maximum extractable value (MEV) and enhancing censorship resistance. Currently working on Proposer-Builder Separation (PBS) and fairness-related initiatives.

• The Verge

Focus: Enhancing state efficiency through Verkle trees. This will reduce storage requirements and improve node performance.

• The Purge

Focus: Simplifying the protocol and clearing technical debt. Removing historical data burdens and lowering node requirements.

• The Splurge

Focus: Final touches and other improvements. Including user experience fixes, clean-up, and feature optimizations.

Contents of the Pectra Upgrade

Planned Ethereum Improvement Proposals (EIPs)

EIP - 7702

Setting External Owned Account (EOA) Account Code

Allows external owned accounts (EOAs) to operate like smart contract accounts during a single transaction, unlocking features such as sponsorship and delegation without migrating to smart contract accounts (SCAs).

This proposal introduces a capability that allows external owned accounts to temporarily behave like smart contracts by attaching executable code to a single transaction.

Without this proposal, external owned accounts would remain rigid, requiring migration to full smart contract accounts to use features like transaction batching, gas sponsorship, or smart recovery. This EIP cleverly addresses this issue by allowing external owned accounts to adopt custom validation logic temporarily for relevant transactions. It is very user-friendly and represents a significant transformation in wallet user experience, effectively bridging the gap between external owned accounts and account abstraction.

EIP - 7251

Increase Maximum Effective Balance

Raises the staking cap for validators from 32 ETH to 2048 ETH, reducing the number of validators and improving network efficiency.

This proposal increases the maximum effective balance for each validator from 32 ETH to 2048 ETH. The current cap of 32 ETH has led to a surge in the number of validators, putting pressure on the network and increasing hardware requirements for node operators.

Without this upgrade, Ethereum's validator set would continue to grow uncontrollably. By allowing each validator to stake a higher amount, this EIP reduces the number of validators, simplifies the block generation and finality processes, and enhances overall network performance. Users may not immediately notice this change, but it is crucial for Ethereum's sustainable development under large-scale applications.

EIP - 7002

Execution Layer Triggered Exit Mechanism

Allows validators to exit the network through the execution layer, enabling a smarter, programmable staking workflow.

This proposal enables validators to trigger their exit from the network through the execution layer, rather than relying solely on the consensus layer's mechanism. Previously, validators could only depend on the consensus layer and could not automate or contract-driven exit operations.

Without this flexibility, advanced use cases such as smart contract-based staking managers or automated strategies would be difficult to build. This EIP increases programmability and composability by allowing the execution layer to initiate validator exit operations. Although this feature is not directly aimed at end users, it enhances the flexibility of staking and lays the groundwork for more advanced validator services.

EIP - 6110

On-chain Supply of Validator Deposits

Transfers validator deposits to the execution layer, simplifying and making the staking participation process more transparent.

By directly supplying validator deposits on-chain through the execution layer, the participation process for validators is optimized. Previously, deposits had to be relayed through the consensus layer, adding unnecessary complexity and potential delays.

Without this EIP, Ethereum would have to rely on implicit signaling and messaging communication between layers, which is neither transparent nor efficient. Now, embedding validator deposits into the execution layer makes the participation process more transparent and predictable. Ordinary users may not directly perceive this change, but it enhances the robustness of the staking ecosystem and supports a clearer delineation of functions between the execution layer and the consensus layer.

EIP - 7691

Increased Blob Throughput

Increase the number of blobs that can be accommodated in each block to enhance data availability and reduce transaction costs on Layer 2 (L2) networks.

This proposal raises the target number of blobs per Ethereum block from 3 to 6, and the maximum number from 6 to 9, thereby providing more available space for Layer 2 rollups to submit data. Under the current limit introduced in Cancun (Dencun, EIP - 4844), Ethereum allows a maximum of 6 blobs per block, with a target of 3. Pectra raises this cap to 9 and adjusts the network's incentive target to 6, effectively doubling the expected blob throughput.

Without this adjustment, as the demand for rollups grows, blob space would become a bottleneck. This change has a direct impact on users, helping to lower costs on Layer 2 networks and improve scalability.

EIP - 7840

Add Blob Scheduling Mechanism in Execution Layer Profile

Introduce standardized blob scheduling rules in the execution layer profile to support future scaling upgrades.

Currently, there is a lack of a unified approach among clients when handling scheduled blob changes. This proposal incorporates standardized blob scheduling rules into the execution layer profile, helping Ethereum prepare for future upgrades to expand blob functionality. Without implementing this EIP, coordinating blob capacity upgrades would be chaotic and error-prone. This proposal adds a shared structure to manage the evolution of blobs across various fork stages, making future scaling efforts smoother. Although ordinary users will not directly see this change, it is an important infrastructure for Ethereum's long-term scaling roadmap.

EIP - 7623

Increase Call Data Fees

Increase call data fees to incentivize rollups to use blobs, enhancing network scalability.

This proposal raises the fees for call data (i.e., unstructured data attached to transactions) to encourage rollup solutions to adopt the blobs introduced by EIP - 4844 instead of using call data for storage.

Without this adjustment, Layer 2 solutions like Optimism and Arbitrum may continue to use call data to publish data. The cost of using call data is higher and less efficient than using blobs. This EIP helps guide users from using call data to Ethereum's new blob infrastructure, thereby enhancing network scalability and reducing costs. Although ordinary users will not directly see this change, they will benefit indirectly from lower Layer 2 network fees, with the specific implementation mechanisms largely invisible to users.

EIP - 7685

Universal Request Format for Execution Layer

Create a standardized communication format from the execution layer to the consensus layer to enhance compatibility for future upgrades.

This proposal lays a better foundation for communication between the execution layer and the consensus layer by defining a universal request format.

Currently, the communication method from the execution layer to the consensus layer is limited and lacks standardization. Without implementing this proposal, future upgrades relying on more robust cross-layer data sharing would be difficult to implement. EIP - 7685 will not directly affect users, but it is a key driving factor for upgrades such as Verkle trees and further integration between the execution layer and the consensus layer in the future.

EIP - 7549

Remove Committee Index from Attestation Structure

Optimize the consensus data structure to reduce bandwidth usage and improve performance.

This proposal removes the committee index from the attestation structure, thereby improving consensus efficiency. Currently, the attestation structure carries separable additional data, leading to its oversized nature and increasing optimization difficulty.

Without this adjustment, Ethereum's consensus messages will continue to contain redundant information, increasing bandwidth and storage requirements. This EIP restructures the attestation structure to make it more streamlined. Although this change is deep within the protocol and will not directly affect end users, it helps enhance the performance of the consensus layer and its adaptability in the future.

EIP - 2935

Store Historical Block Hashes in Blockchain State

Expand access to old block hashes to support more advanced on-chain applications and trustless random number generation mechanisms.

Currently, Ethereum smart contracts can only access the hashes of the most recent 256 blocks, limiting the development of decentralized applications that rely on older but still recent on-chain data. This proposal directly stores recent historical block hashes in the blockchain state, addressing this limitation.

Without implementing this EIP, developers would find it difficult to build various applications based on older on-chain data. By extending the storage time for hashes, this proposal opens up new possibilities for random number generation, proof systems, and trustless oracles. Although most users will not directly perceive this change, it will significantly benefit developers building complex on-chain logic.

EIP - 2537

BLS12 - 381 Curve Operation Precompile

Add a high-efficiency precompiled contract for BLS signature verification to support staking and cross-chain application scenarios.

This proposal introduces a precompiled contract for BLS12 - 381 curve operations, addressing the challenge of efficiently verifying BLS (Boneh–Lynn–Shacham) signatures on-chain. Without this proposal, the gas consumption for cryptographic operations (especially those used in staking and cross-chain bridges) would be too high, making practical applications unfeasible.

This EIP adds a native precompiled contract that significantly reduces the gas costs of these verification operations. Although end users will not interact with it directly, it enhances Ethereum's cryptographic infrastructure, supporting future interoperability and scalability features.

"EIP - 7702 elevates the user experience of wallets to a new level. This is an important step towards bringing blockchain technology to the masses." — Daniel Lehrner, Senior Blockchain Protocol Engineer at Consensys said.

Upgrading Web3 User Experience with EIP - 7702: Setting External Owned Account (EOA) Account Code

Upgrading the core user experience is the most critical step in driving Web3 towards mainstream adoption. The shift to smart accounts signifies a fundamental change in how the network operates. Previously, all programmable features originated from the smart contracts users interacted with, but now users can leverage their programmable wallets to stand on equal footing with professional developers in this area. The potential of smart accounts is immeasurable, opening up a whole new realm of development for developers and innovators.

EIP - 7702 allows external owned accounts (EOAs) to temporarily possess the functionality of smart contract accounts in a single transaction by adding a contract_code field. This enables users to utilize advanced features such as transaction batching, gas sponsorship, and smart validation logic without separately deploying contracts. Unlike EIP - 4337, which relies on external infrastructure like bundlers and paymasters, EIP - 7702 is directly integrated into the Ethereum core protocol. This integration not only lowers the adoption barrier but also enhances compatibility, making it easier for ordinary users to utilize smart account features.

For MetaMask users, this means that existing accounts can now also use smart account features. For example, with MetaMask's Delegation Toolkit, users can authorize wallet permissions. Previously, these features were only available to smart contract accounts.

"Now, the maximum effective balance for validators can reach 2048 ETH. Moreover, if users wish to withdraw part of their effective balance, they can do so using the EIP - 7002 message." — Lucas Saldanha, Chief Protocol Engineer at Consensys said.

Unlocking Institutional Staking with EIP - 7251 and EIP - 7002: Increased Effective Balance and Execution Layer Validator Exit Mechanism

The staking functionality is undergoing an enterprise-level upgrade.

EIP - 7251 and EIP - 7002 have made key improvements to Ethereum's staking architecture, making it more scalable, flexible, and easier for developers to use.

EIP - 7251 raises the maximum effective balance for each validator from 32 ETH to 2048 ETH, allowing large stakers to consolidate assets while reducing the overall number of validators. This alleviates the burden on the consensus layer, supporting future performance upgrades without adversely affecting smaller participants.

EIP - 7002 allows the validator exit process to be triggered through the execution layer, enabling smart contracts and applications to manage the lifecycle of validators on-chain. This is an important step towards a programmable and automated staking process.

"EIP - 7691 and EIP - 7623 will help improve throughput and mitigate worst-case scenarios by optimizing the propagation and processing of blocks." — Ameziane, an engineer focused on performance enhancement.

Releasing Layer 2 Performance with EIP - 7691 and EIP - 7623: Shifting from Call Data to Blobs to Enhance Rollup Efficiency

The efficiency of Layer 2 networks (L2) will double overnight.

EIP - 7691 and EIP - 7623 work together to drive Ethereum rollups from relying on call data to using blobs, thereby enhancing scalability and reducing pressure on the execution layer.

Blobs were initially introduced during the Cancun (Dencun) upgrade in March 2024 through EIP - 4844, providing a cheaper temporary data storage solution for rollups compared to call data. However, due to familiarity with tool usage and limitations on blob space, many rollups continued to rely on call data. To address this issue, EIP - 7623 raises the gas cost of call data from 16 to 42 per byte to suppress its usage. However, to make the transition feasible, EIP - 7691 increases Ethereum's blob capacity, raising the target number of blobs per block from 3 to 6 and the maximum number from 6 to 9.

This collaborative adjustment makes blob space more accessible while reducing the attractiveness of call data, helping networks like Linea achieve more efficient scaling with lower costs and faster finality. Developers can now rely on the availability of blobs when designing applications, enhancing user predictability and performance. This is part of the planned evolution: in the upcoming Fusaka upgrade, the target number of blobs per block will reach 36, with a maximum of 52, achieving over 10 times the efficiency, throughput, and cost improvements. Fusaka is the next round of upgrades following Pectra, expected to further expand blob capacity, with a target number of 32 and a maximum of 56.

The Future Development Path of Ethereum

The Pectra upgrade is an important step for Ethereum and its ecosystem applications towards a new journey. MetaMask plans to support the EIP - 7702 proposal, which will allow ordinary external owned accounts (EOAs) to transact without paying gas fees while enabling social recovery and delegation features. ConsenSys staking services are also ready to implement the EIP - 7251 proposal, which allows the staking limit for validators to be increased to a maximum of 2048 ETH, reducing the operational costs of validators across the network.

Linea is actively preparing for early support of the EIP - 7691 proposal, allowing its developers to utilize higher blob capacity and enjoy lower rollup fees even before the mainnet officially launches. In addition to technical preparations, Linea is gradually becoming the most compatible Layer 2 (L2) network within the Ethereum ecosystem and is expected to become Ethereum's official Layer 2 network. This means that Linea may adopt these upgrades ahead of the official implementation on the mainnet, representing an opportunity for developers to leverage powerful features and deliver these advantages to users at unprecedented speed.

Looking ahead, Ethereum's next major upgrade — the Fusaka upgrade — is expected to achieve a complete danksharding mechanism through PeerDAS, significantly enhancing the network's speed and scalability. Combined with the foundation laid by the Pectra upgrade, these changes are part of Ethereum's gradual evolution, driving it towards the grand goal of becoming a truly scalable and efficient global settlement layer.

"The future is bright, and transformative changes like PeerDAS are set to land in the coming months. We should see a significant enhancement in Ethereum's rollup capabilities, further solidifying Ethereum's position in the blockchain ecosystem." — Gabriel Camargo Fukushima, Senior Blockchain Engineer II at Consensys.

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