What are the benefits of Ethereum upgrade? In what aspects?

EIP upgrades enhance Ethereum, improving user experience via account abstraction (EIP-7702), boosting decentralization (EIP-7251), increasing scalability (EIP-7691), and lowering transaction costs, ultimately fostering a thriving ecosystem.

Mar 04, 2025 at 02:09 pm

• EIP-7702 is committed to improving the user experience of crypto wallets. It allows externally owned accounts (EOAs) to temporarily play the role of smart contract wallets in transactions, allowing ordinary wallets to perform complex operations, simplify processes, and reduce transaction costs.

• The proposal introduces a new transaction type, which can temporarily fill in the smart contract code when trading, reset to empty after completion, giving EOAs greater flexibility, and highly interactive financial applications will benefit from it.

• Account abstraction has always been an important direction for Ethereum's development, and EIP-7702 has played a great role in promoting this. It gives users' existing EOA the ability to execute any smart contract code.

• Due to technology limitations, account abstraction penetration and compatibility are poor, and many Dapps and L2 do not support it. EIP-7702 is expected to change this situation and promote the birth of complex gameplay applications.

• EIP-7251 raises the maximum stake limit of validator from 32 ETH to 2,048 ETH. More staking caps means more participants can become validators.

• This will attract more nodes to join the Ethereum network, make the network nodes more widely distributed, enhance the degree of network decentralization, and reduce the control of the network by a few nodes.

• As the number of validators increases, it is greatly difficult for malicious attackers to control most nodes. Because the cost of attack will increase exponentially with the increase in the number of nodes.

• More validators participate in the consensus mechanism can better ensure the accuracy and immutability of transaction records, thereby improving the security of the entire Ethereum network.

• EIP-7691 increases the maximum number of blobs. Blobs play an important role in Ethereum expansion, and more blobs means they can carry more data.

• Rollup can package a large amount of transaction data into blobs. As the number of maximum blobs increases, Rollup can process more transactions and improve the overall expansion capabilities of the Ethereum network.

• After the Rollup expansion capability is improved, it can process more transactions within a unit of time. According to economic principles, when supply increases (transaction processing capacity increases), transaction costs will decrease when demand remains unchanged or reasonably grows.

• In the past, due to high transaction costs, some small transactions or cost-sensitive applications were difficult to implement on the Ethereum network. After the cost reduction, more applications will be promoted to develop in the Ethereum ecosystem.

• The benefits of improving user experience, enhanced network performance, and reduced transaction costs brought by the upgrade will attract more developers to develop applications on Ethereum.

• Whether it is decentralized finance (DeFi), non-fungible tokens (NFT), or emerging blockchain application fields, they will gain a better development soil due to the upgrade of Ethereum and promote the prosperity of the entire Ethereum ecosystem.

• In the field of blockchain, many public chains are constantly developing. Ethereum improves its own performance through Pectra upgrades and maintains an advantage in competing with other public chains.

• Better performance, security and user experience will attract more users and funds to the Ethereum network, consolidating its leading position in the blockchain industry.