Protocol: Ethereum's Pectra Final Test Launched

Protocol: Ethereum's Pectra Final Test Launched

Also: Hyperliquid Simplifies Token Transfers for DeFi with HyperCore and HyperEVM Integration; Celo Migration to Layer 2 Network Complete, Ushering in a New Era for Blockchain; Bitcoin DeFi Expansion Faces Fork Dilemma as Devs Explore ZK Proofs

Benjamin Schiller March 26, 2025, 21:34 UTC

Welcome to The Protocol, CoinDesk’s weekly roundup of the biggest stories in crypto tech. My name is Ben Shiller.

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• Ethereum's Pectra Final Test Launches
• Hyperliquid Simplifies Token Transfers for DeFi
• Celo migration to Layer 2 network complete
• Bitcoin DeFi Expansion Faces Fork Dilemma

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Network news

IT’S ALIVE! ETHEREUM PECTRA TEST: A dress rehearsal for Ethereum’s anticipated Pectra upgrade took place on Wednesday, as the blockchain’s major changes for the year were tested again after a series of failures. The upgrade on the new Hoodi testnet was closely watched, given that two previous tests on the Holesky and Sepolia networks had not been completed properly. Following those tests, developers created a new Hoodi testnet to give ecosystem participants, especially staking providers, another opportunity to test the Pectra upgrade before it is rolled out to the Ethereum mainnet. The test involved Hoodi implementing a number of code changes aimed at improving the Ethereum experience for both users and developers. One of those changes adds smart contract functionality to wallets, allowing wallet software developers to build new convenience features, such as the ability to pay transaction fees in cryptocurrencies other than ether (ETH). Testnets act as copies of the main blockchain and serve as a way for developers to run any major code changes in a low-stakes environment, allowing them to fix any bugs before they hit the main network. Hoodi was the last of three testnets to undergo a Pectra simulation. Developers had previously agreed that if all went well on Wednesday, Pectra would be monitored for about 30 more days before finally being activated on the Ethereum mainnet. — Margot Nijkerk Read more.

HYPERLIQUID SIMPLIFIES DEFI TOKENS: The decentralized finance (DeFi) sector is one of the leading drivers of value accumulation and revenue generation for crypto projects, but its complexity often leaves users confused by the web of blockchains, bridges, wallets, and tokens. A tech update from Hyperliquid simplifies the process for both developers and users by making it possible to directly link tokens on the HyperCore and HyperEVM platforms. HyperCore is a native platform for spot assets (i.e. tokens that can be traded directly), while HyperEVM is the Ethereum Virtual Machine (EVM) network that runs smart contracts on Ethereum. Tokens on HyperCore, called “Core spot,” can be linked to their HyperEVM counterparts, called “EVM spot.” Once linked, users can transfer them with simple actions — like a “spotSend” on HyperCore or a standard ERC-20 transfer on HyperEVM. By allowing tokens to move between each other directly — without a third-party intermediary — developers can create products that eliminate the technical complexities associated with moving assets, which is convenient for experienced crypto users, but can be difficult for newcomers. — Shaurya Malwa Read more.

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