Ethereum's Pectra Upgrade Launches on Holesky Testnet

The Ethereum network's long-awaited Pectra upgrade has officially launched on the Holesky testnet, marking a significant step towards enhancing the protocol's scalability. The upgrade, deployed at slot 3710978, comes with an active validator count of 1775010 and a total staked Ethereum worth 56766401 ETH.

The testnet, created at a Genesis Fork Version of 0x01017000, aligns with an earlier timeline agreed by developers. However, as Ethereum developers troubleshoot the chain, a number of growing issues have emerged. The success of this testnet deployment will determine the imminent launch on the mainnet in April.

As the upgrade unfolds, developers are closely monitoring the testnet deployment to ensure a smooth transition to the mainnet. The Pectra upgrade is expected to bring significant improvements to the Ethereum network, addressing scalability concerns and paving the way for future developments.

This is a developing story, and updates will be provided as more information becomes available.