The Pectra upgrade is coming. Scheduled for May 7, 2025, it promises a wave of improvements, from EIP-7702 enabling EOAs to behave like smart contracts, to doubling data blobs per block for Layer 2 scalability, and validator staking balance increases. On the surface, it’s progress. Like any major surgery, we need to ask: is the cure worse than the disease? Are we sacrificing long-term public health for short-term economic benefit?

EOAs As Smart Contracts: Really Needed?

EIP-7702, enabling Externally Owned Accounts (EOAs) to function like smart contracts This one sounds like a game changer, doesn’t it? Transaction batching, gas fee sponsorship, asset recovery – all natively from regular wallets. Sounds efficient. Let’s face it, isn’t this all just a convoluted workaround for the fact that EOAs suck? This would make it a Frankenstein project. Are we really just trying to Frankenstein existing accounts rather than truly innovate with better account abstraction from the ground up?

Think of it like trying to use updates to upgrade a flip phone to a 5G smartphone. Of course, you can slap on some smartphone-like features, but it will never be the same integrated experience. That's what this feels like.

Complexity breeds vulnerability. Every new feature, every line of code, is another potential attack vector. Overloading EOAs creates more opportunities for bugs and security holes. This creates an opportunity for misuse, imperiling the safety of our systems. Are we actually making the user experience easier and safer, or developing a more complex and hazardous environment?

I can already envision the headlines: "Millions Lost as EIP-7702 Bug Exploited." The outrage will be palpable. The anxiety, justified.

Doubling Blobs: Centralization In Disguise?

All right, let’s discuss doubling the number of data blobs allowed per block. From 3 to 6. Great for Layer 2 scalability, they say. Optimism and Arbitrum will be thrilled. Let's connect the dots here. Who really benefits from this? The usual suspects, as they say, the same actors that have already come to monopolize the current Layer 2 landscape.

Think of it like highway expansion. Adding more lanes sounds like it eases traffic, but it often just incentivizes more cars to get on the road, leading to the same congestion, but on a larger scale. And who can afford the larger, more expensive cars needed to utilize those additional lanes of speed? The wealthy.

By limiting the size increases of data blobs, we can make Layer 2 faster for more users. In doing so, this increases the computational burden on Ethereum’s nodes. Who can afford to run those beefier nodes? Larger, more centralized entities. In return, are we just setting up Ethereum to become more centralized in the future under the convenience of a scalable solution?

This isn’t simply a technical specs issue. It’s a question of power dynamics. Who controls the infrastructure controls the network. And if that control gets too centralized, we put Ethereum’s current most valuable feature—its decentralization—at risk. This should make you angry.

Staking Changes: A Fair Shake for All?

The validator staking balance has recently increased to 2048 ETH. Additionally, they repealed the PoW follow distance rule—don’t you think that sounds like some arcane internal plumbing to you? More efficient logistics and reduced strain on the network with increased flexibility on staking. All good things, in theory.

Let's be real. This is a nice benefit to all existing Validators, but particularly the larger ones. It perhaps allows them to more easily steamroll their opponents’ positions, which serves to further entrench their dominance. What about the little guy? The little, inclusive staker who wants to help make the network more decentralized? Or alternatively, by making it more difficult for them to compete. In short, are we building a digital divide 2.0—where the rich get richer, while everyone else gets the short end of the stick?

Consider this: a small tweak can have massive consequences. We all know the old adage about the road to hell being paved with good intentions. The staking mechanics are so sensitive that even minor changes can have devastating effects on the network’s health and decentralization. We need to take a Good Samaritan approach and really look at all the details of these changes. Let’s make sure they help serve the whole community, and not just a privileged few.

The Pectra upgrade is not inherently bad. We need to look at it with a critical eye. The potential scalability offers a tantalizing siren call of promised high transaction throughput, but we can’t – and shouldn’t – trade security, decentralization or market fairness for performance. We must be willing to ask the tough questions, challenge the status quo, and demand transparency at every turn.

The ultimate success of Pectra will be determined entirely on the technical merits. Our shared resolve to protect the foundational principles of Ethereum will be essential to that success. The future of the network truly is in our hands. Let’s make sure we choose wisely.