Ethereum’s latest upgrade, Pectra, was supposed to bring significant improvements to the network, but its launch on the Holesky testnet didn’t go as planned. The upgrade, aimed at enhancing scalability and user experience, faced serious issues, leading to a failure in finalizing transactions. This has raised questions about whether the entire update could be delayed or if developers will shift testing to the Sepolia testnet as planned.
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What Went Wrong on Holesky?
On February 24, the Pectra upgrade was activated on the Holesky testnet. But shortly after, developers noticed a critical issue: the network couldn’t achieve finality. In Ethereum, finality means that once a transaction is confirmed, it becomes irreversible. This is crucial for ensuring the integrity and security of the blockchain.
The problem was traced to a misconfiguration in tracking validator deposits on major execution clients like Geth, Nethermind, and Besu. These clients failed to correctly monitor deposits, disrupting the network’s consensus. Meanwhile, minority clients like Erigon and Reth continued producing valid blocks, exposing inconsistencies in how different clients implement the upgrade.
This bug led to a situation where most nodes were on the wrong chain, making recovery complicated. Developers quickly identified the cause, but fixing it has proven difficult due to the complexity of the issue.
Does This Mean a Delay for the Pectra Update?
The failure on Holesky doesn’t directly impact the Ethereum mainnet, but it raises concerns about the readiness of the Pectra upgrade. The next testing phase is scheduled for March 5 on the Sepolia testnet. However, if the issues on Holesky persist, developers might delay the Sepolia test to ensure all bugs are resolved.
This isn’t the first time Ethereum has faced testnet challenges. In January 2024, the Dencun upgrade also failed to finalize on the Goerli testnet, leading to delays. Ethereum’s developers are known for their cautious approach, preferring to fix issues on testnets rather than risking problems on the mainnet.
What’s at Stake?
Pectra is one of the most significant upgrades for Ethereum, introducing 11 Ethereum Improvement Proposals (EIPs). These include EIP-7702, designed to enhance wallet user experience by allowing them to temporarily act as smart contracts, and EIP-7251, which raises the validator staking limit from 32 ETH to 2,048 ETH. This could simplify validator operations and improve network efficiency.
If Pectra is delayed, it could postpone these crucial enhancements. Ethereum developers are under pressure to maintain the network’s competitiveness, and any delay could impact user and developer sentiment.
Could Testing Move to Sepolia?
The Sepolia testnet is set to be the next stage for Pectra’s testing. If developers feel confident about fixing the Holesky issues, they might proceed with the March 5 timeline. Otherwise, they could postpone the Sepolia test to allow more time for bug fixes.
This would not be unprecedented. Ethereum’s cautious approach to testing has helped avoid major issues on the mainnet in the past. However, frequent delays could frustrate the community and investors who are eagerly waiting for the improvements Pectra promises.
What to Watch For
The next few days will be crucial. If developers announce a delay for the Sepolia test, it’s a sign they are prioritizing security over speed, which could impact short-term sentiment but be better for Ethereum in the long run. If testing on Sepolia goes ahead, it will be interesting to see if the issues on Holesky resurface or if the bugs are fully fixed.
Whether the update is delayed or goes forward as planned, the Pectra upgrade is a significant step for Ethereum’s future, and how developers handle this setback could shape the network’s development for years to come.
Pectra upgrade is also important as it might rebuild investors’ confidence in Ethereum, which has been underperforming against Bitcoin and many altcoins. We described it more in this article.
