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- Ethereum has outperformed all other networks in terms of development activity.
- Whales’ interest in ETH has decreased significantly in the past few days.
The recent hype around ETFs is on Ethereum [ETH] The network did not interrupt development activity on the Ethereum network one bit.
Development is on the rise
Ethereum had one of the highest number of code executions and active developments on its network.
Source: X
What exactly do developers do?
In a recent developer call, Ethereum developers ironed out the details of the upcoming Pectra upgrade to the Ethereum ecosystem. Pectra is rigorously tested on special test builds, called Devnets, before going live.
The next beta, Devnet 1, will introduce two major changes. First, a more efficient way for validators, special computers that verify transactions, to work together will be implemented.
Second, it will introduce a new system called EIP 7702. This system allows users to give permission to other software to control their transactions, similar to giving someone a key to your digital wallet.
However, there is ongoing debate about how users can restore this permission if necessary. The developers are scheduled to meet again to finalize this crucial aspect of EIP 7702.
In addition to the Pectra upgrade, the meeting also covered the progress of other Ethereum developments.
For EOF, a separate upgrade focused on data storage, testing of customer applications will begin after the Pectra changes are finalized.
The EOF team will provide further testing to aid development. In addition, EOF meetings shifted to bi-weekly meetings as the specifications were finalized.
As for PeerDAS, another standalone upgrade that enhances auditor communications, the next testnet is expected to launch within two weeks. Unlike Pectra, PeerDAS will use Dencun’s final specifications.
The meeting also included announcements. A new standardized format for writing improvement proposals has been proposed to ensure better reviews.
Notably, a new resource page has been introduced on GitHub titled “eth-clients” for Ethereum developers.
ETH remains stable
At press time, Ethereum was trading at $3,494.20, with its price up 0.12% over the past 24 hours. Retail interest in ETH has been on the rise.
is reading Ethereum [ETH] Price prediction 2024-2025
Accumulation by addresses ranging from 0.001 to 10 has led to the accumulation of large amounts of ETH over the past few days. Whales have not shown similar interest in ETH and have been giving up their holdings.
Although retail investors are digesting this selling pressure, a reversal in whale sentiment will be required for ETH to return to the green again.
Source: Santiment
