The latest major update for Ethereum is the Pectra upgrade, which has been officially launched on the mainnet on May 7, 2025. This is the third major upgrade after the merge in 2022 and the upgrade in Cancun in 2024. With the upgrade of Pectra, Ethereum has risen to 1940u per coin today. This article will talk in detail about the benefits to Ethereum after this upgrade, as well as the impact on those projects. Let's talk about the upgrade content first, this upgrade includes a two-layer hard fork of the execution layer (Prague) and the consensus layer (Electra). FIRST OF ALL, THE EXECUTION LAYER IS MAINLY UPGRADED TO EIP-3074 (AUTH AND AUTHCALL), EIP-5806 (DELEGATE CALL IMPROVEMENT), EIP-2935 (HISTORICAL STATE ACCESS OPTIMIZATION), EIP-7702 (ACCOUNT ABSTRACTION EXTENSION), AND EIP-7685 (UNIVERSAL EXECUTION REQUEST). The impact is that the EVM performance is optimized, and the execution cost of complex contracts is reduced by improving the opcode and gas billing mechanism. The new opcode supports more efficient cryptography operations (such as elliptic curve operations) to improve security. Data availability is enhanced, and the execution layer collaborates with the consensus layer to optimize the blob data store (introduced by EIP-4844) to provide L2 data availability at a lower cost. Doubling the size of blobs (from 3 to 6) directly reduces rollup transaction fees. From an ecological point of view, the upgrade of the execution layer has brought fresh blood to ETH from all angles. The first is that EIP-3074 and EIP-7702 make wallet operations more intuitive, similar to the smooth experience of Web2 applications, and attract non-technical users to DeFi, NFT and other fields. The second is (EIP-7685) (EIP-2935), which simplifies the development of DApps for developers and provides technical support for automated transactions. In addition, there is the L2 ecosystem, which directly reduces L2 transaction fees and optimizes cross-layer interaction to promote seamless collaboration between L1 and L2. Speaking of the consensus layer, the main updates of the consensus layer are: EIP-7600 (flexible staking limit), EIP-7251 (staking exit optimization), EIP-7594 (data availability sampling), EIP-6988 (penalty mechanism improvement). EIP-7600 adjusts the validator staking cap from 32 ETH to a dynamic range of 32 ETH to 2048 ETH. Allows validators to adjust the stake amount based on demand, lowering the barrier to entry for small stakers, while supporting large staking to improve efficiency. Attract more individuals to participate in staking, enhance network decentralization, and reduce reliance on large staking pools such as Lido. EIP-7251 optimizes the validator exit mechanism, shortens the wait time for exiting the queue (from days to hours, depending on network load), introduces more efficient balance processing, and allows some staked funds to exit quickly. Increase the liquidity of validators, reduce exit costs, and encourage more users to participate in staking. EIP-7594 introduces initial Data Availability Sampling, paving the way for future Danksharding sharding technology. Validators only need to validate some of the blob data (but not all of it), reducing the bandwidth and storage requirements for nodes to run. Improve the scalability of the network, support the low-cost data storage of L2 rollups, and prepare for full sharding. EIP-6988 optimizes the punishment mechanism for inactive or malicious behavior of validators to reduce false penalties. More accurately identify network failures and deliberate attacks to improve the fairness of punishment. Enhance network security and incentivize validators to stay online and honest. The impact on the ecosystem, EIP-7600 and EIP-7251 lower the threshold for staking and exiting, attract more retail users to participate, and the number of validators is expected to increase significantly. The flexible staking cap supports individuals and small-scale validators, reducing reliance on centralized staking services and promoting network decentralization. Doubling the blob capacity directly reduces L2 data storage costs, which is beneficial to the transaction throughput and user experience of rollups. The initial implementation of data availability sampling provides technical support for the long-term scalability of L2. Improvements in the penalty mechanism and increased validator engagement have strengthened Ethereum's resistance to 51% attacks. A more efficient exit mechanism reduces the risk of validators being locked up in funds. This is the specific content of this Pectra upgrade, and now analyze the impact of the upgrade on the ecology of those projects. First of all, the pledge track, this upgrade has a lot of content about the pledge part, and it also has a great impact on the pledge project. The upgrade lowers the threshold for individual staking and encourages independent validators or small staking pools to participate. This will have a certain diversion for existing staking projects. However, due to the complexity of the staking project and the close cooperation with the DeFi project, the staking project will most likely not lose too many users and will maintain the corresponding status. However, decentralization features like Rocket Pool may be more appealing to users who value decentralization. Effect on L2. Reduced transaction costs: The data storage costs of L2 rollups (such as Arbitrum and Optimism) are reduced by about 50%, which directly reduces user gas fees. Increased throughput: More blob space allows L2 to process more transactions, and Optimism's TPS (transactions per second) may increase from tens to hundreds. Among them, EIP-7685 improves and optimizes cross-chain communication, which will stimulate the development of some emerging L2 ecosystems. In particular, some defi projects, account abstraction (EIP-3074, EIP-7702) simplifies L2 wallet operations, attracts Web2 users to L2, and benefits L2 for novices such as Base (supported by Coinbase). The doubling of blob capacity directly reduces L2 gas fees, and DeFi users of Arbitrum and Optimism (such as Uniswap, Aave) will benefit from lower transaction costs. Impact on abstract account projects, this upgrade allows external accounts (EOA) to authorize transactions through smart contracts, supports batch transactions, gas sponsorship (third-party payment of Gas), and custom signature logic. All projects that do abstract accounts can be better developed and are no longer subject to technical constraints. The barrier to entry has been lowered, and there may be more user growth for such projects in the future. Next, the authorization mechanism introduced after this upgrade (EIP-3074 and EIP-7702) may be exploited by malicious contracts, such as phishing attacks to induce users to authorize and steal funds. Wallet projects need to strengthen security audits. EIP-7600 allows validators to stake 32-2048 ETH, which in some way leads to further pooling of funds by large staking pools such as Lido due to its greater capital efficiency. Ethereum's decentralization is likely to decrease, increasing the risk of 51% attacks or governance manipulation. Similar projects should promote the encouragement of small staking pools and decentralized governance. There are also regulatory risks, as Pectra's staking optimization (EIP-7600) and AA features may raise regulatory concerns, especially in the US, where liquid staking (e.g., Lido) and smart accounts may be considered financial services and face compliance requirements. That's the main content of this upgrade and the impact it brings. Like it and then collect it, and give it a support.