Pectra progress: Gas refunds, audits and Ethereum leadership talk

Ethereum’s scaling improvements are progressing as testnets approach, while Danny Ryan’s EF leadership candidacy gains momentum

article-image

Mia Stendal/Shutterstock modified by Blockworks

share


This is a segment from the 0xResearch newsletter. To read full editions, subscribe.


In the first ACD call of the year following the holiday break, Ethereum core developers were focused on tying up loose ends on the upcoming Pectra hard fork.

Devnet 5, which went live shortly before the call, may be the last [network implemented] before moving on to the testnet phase, tentatively scheduled to begin in early February. System contracts for Pectra underwent bytecode audits, with all changes already implemented. A follow-up presentation on audit findings will occur in two weeks.

A significant part of the discussion focused on refining the gas refund mechanisms. EIP-7623, which aims to clarify the handling of gas refunds, was successfully merged, resolving issues with the order of gas refund application. A fix addresses a lingering point for Pectra, ensuring that transaction gas costs align with expected outcomes.

Another key feature under scrutiny was EIP-7840, which pertains to base fee updates in Ethereum’s future. Marek Moraczyński from the Nethermind team provided context for a proposal aiming to streamline configuration and bring consistency to Ethereum, enhancing network efficiency.

As Ethereum looks to pick off any low-hanging fruit to help with scaling, other improvements are working their way toward developer consensus. One, related to BLS precompilation gas costs under EIP-2537, seeks to align gas constants with prior assumptions. Radek Zagórowicz from the Ipsilon team explained that “the easiest fix to the spec is…correcting the constant so it follows their previous assumptions.” This adjustment ensures gas costs are consistent, aligning with Ethereum’s larger goal of efficient scalability.

Gas limits on the Holesky testnet were discussed, with a proposal to keep them elevated, relative to mainnet, for testing purposes. For instance, the gas limit would increase to 60 million after the Pectra fork, and progressively rise with each fork thereafter.

Who should lead the EF?

Outside of the day-to-day development, the Ethereum community is also rallying behind Danny Ryan as a strong candidate to lead the Ethereum Foundation (EF). His technical expertise, demonstrated during Ethereum’s transition to proof-of-stake, as well as his community-driven approach, have made him a well-regarded figure in the space.

Aya Miyaguchi has been at the helm of the EF, serving as its executive director since 2018, but there’ve been a slew of calls on X for new leadership, many of which are in support of Ryan.

Anton Cheng shared his story of how Ryan inspired him in 2019 by “[showing him] the path to Ethereum,” as a strong proponent of open-source software. The prominent, though pseudonymous, DCinvestor similarly outlined Ryan’s leadership qualities, noting his ability to lead through uncertainty and his deep technical understanding of Ethereum, two essential qualities as Ethereum navigates its scaling challenges. 

Ryan, who left the EF in September, has been reportedly interested in the EF role. He sounded a diplomatic note on X in a bid to head off any incivility:

“Regardless of the future of Ethereum — whether with or without me in any capacity — I want to state publicly and very clearly that I have nothing but respect and praise for [Miyagotchi’s] leadership and friendship,” Ryan wrote.


Start your day with top crypto insights from David Canellis and Katherine Ross. Subscribe to the Empire newsletter.

Explore the growing intersection between crypto, macroeconomics, policy and finance with Ben Strack, Casey Wagner and Felix Jauvin. Subscribe to the Forward Guidance newsletter.

Get alpha directly in your inbox with the 0xResearch newsletter — market highlights, charts, degen trade ideas, governance updates, and more.

The Lightspeed newsletter is all things Solana, in your inbox, every day. Subscribe to daily Solana news from Jack Kubinec and Jeff Albus.

Tags

Upcoming Events

Javits Center North | 445 11th Ave

Tues - Thurs, March 18 - 20, 2025

Blockworks’ Digital Asset Summit (DAS) will feature conversations between the builders, allocators, and legislators who will shape the trajectory of the digital asset ecosystem in the US and abroad.

Brooklyn, NY

TUES - THURS, JUNE 24 - 26, 2025

Permissionless IV serves as the definitive gathering for crypto’s technical founders, developers, and builders to come together and create the future.If you’re ready to shape the future of crypto, Permissionless IV is where it happens.

Old Billingsgate

Mon - Wed, October 13 - 15, 2025

Blockworks’ Digital Asset Summit (DAS) will feature conversations between the builders, allocators, and legislators who will shape the trajectory of the digital asset ecosystem in the US and abroad.

recent research

Research Report Templates (2).png

Research

This reports analyzes the competitive dynamics of the Solana DEX landscape, identifying sustainable moats per protocol. We also find that Raydium (RAY), Orca (ORCA), and Lifinity (LFNTY) are valued very similarly on a P/S basis and what this could mean for Meteroa's (MET) valuation, which is still pre-TGE.

article-image

With $800 million now flowing to creditors, some expect a market boost — yet many remain cautious after years of waiting

article-image

There’s more to do on Solana than memecoins, but the market isn’t seeing it that way

article-image

Galaxy’s Alex Thorn said that the saga, paired with TRUMP and MELANIA, could lead to “further destruction of the memecoin complex”

article-image

Anatoly Yakovenko in 2017 embarked on the technical challenge of solving blockchain’s scalability problem

article-image

Grayscale Investments has historically had a four-stage lifecycle for its products, but there’s an indicator this could be changing

article-image

Brian Quintenz and Jonathan Gould are two recent Cabinet nominees with ties to crypto