Pectra progress: Gas refunds, audits and Ethereum leadership talk

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.