New Details and Estimated Date for the Update Expected from Developers as Ethereum Price Plummets

Ethereum core developers have announced that they have launched a new testnet to complete tests for the network's upcoming Pectra upgrade.

The decision comes after significant issues were encountered in previous testing efforts, prompting developers to take additional precautions before full deployment.

Tim Beiko, who coordinates ETH core developers at the Ethereum Foundation, confirmed the news in a post on X (formerly Twitter) following a developer call. “A new testnet, Hooli, is launching on Monday to complete Pectra testing,” Beiko said. The Pectra update will be tested on Hooli on March 26, when the network will migrate to the new version of Ethereum to evaluate performance and stability.

Pectra introduces a number of improvements aimed at improving the speed, efficiency, and usability of ETH. One of the most anticipated changes is the addition of smart contract functionality to wallet addresses, allowing users to pay for transactions in currencies other than ETH. This feature is expected to improve Ethereum’s user experience and drive wider adoption.

If the Hooli test is successful, the developers plan to roll out the upgrade to Ethereum's mainnet in about 30 days, likely in late April or early May.

The decision to launch Hooli came after test failures on Ethereum’s Sepolia and Holesky testnets. In both cases, configuration errors disrupted the evaluation process, and Holesky suffered extended outages due to faulty tests. Ethereum’s testnets, including Sepolia, Holesky, and now Hooli, operate similarly to the mainnet, but are designed for risk-free testing, avoiding potential outages in Ethereum’s live ecosystem.

*This is not investment advice.