Ethereums Pectra Update: SHIB and ERC-20 Tokens to Revolutionize Gas Fees
- Ethereums Pectra upgrade in March 2025 will enable users to pay gas fees with ERC-20 tokens like Shiba Inu (SHIB).
- Pectra introduces account abstraction, allowing ERC-20 tokens like SHIB, BONE, and USDC to replace ETH for transaction fees.
- Ethereums Pectra upgrade also boosts staking limits, smart contract capabilities, and network scalability for improved performance.
The Ethereum platform is getting ready for a significant update, which might transform fee payment for operations. The new feature Pectra update that is to be released in March 2025 will let users pay with ERC-20 tokens, such as SHIB. That will be done using account abstraction which is likely; to increase flexibility in transaction methods.
Shiba Inus Ethereum Integration
Ethereum users only have the option of paying with the native cryptocurrency coin called ETH. Nonetheless, with Pectra, it is possible to pay for gas fees with other erc-20 tokens such as USD Coin (USDC and DAI. This is made possible by the update where token tokens such as Shiba Inu can be utilized in this manner.
Shiba Inus participation in the upgrade was a matter of focus in the crypto space. However, it is not clear whether BONE and TREAT, the tokens native to the Shiba Inu ecosystem, will also be incorporated. If successful, Ethereum users will be able to transact price for token movements, NFTs, and other activities on dApps using SHIB.
Shiba Inus marketing lead, Lucie, clarified earlier that it was impossible to pay fees with SHIB. She has cited the technical difficulties that have so far hindered such payments. However, the new update Pectra can help the gas payment options and add new tokens like Shiba Inu tokens.
Pectra Upgrade Enhancements
Pectra will also get several other significant enhancements under the upgrade plan; One of the major changes includes the increase in the staking amount for Ethereum from 32 ETH to 2,048 ETH. This is designed to enhance the staking effectiveness for Ethereum and the networks capacity as well. The update will also enrich all smart contract capabilities and address the issue of storage in the network.
Ethereum developers recently experienced a blow when the Pectra failed to reach consensus on the Holesky testnet. This was promptly attended to by the team, assuring that it was a one-off occurrence that could be managed. However, the upgrade will proceed as planned, with the following testnet to happen on March 5, 2025, within Ethereums Sepolia testnet.
Read more: https://www.tronweekly.com/ethereums-pectra-update-shib-and-erc-20-token/
Text source: TronWeekly
