Ethereum’s (ETH) development team is regrouping after the recent disappointment of the %Cryptocurrency’s highly anticipated %Pectra upgrade.
After two failed tests of the Pectra upgrade, the network’s core developer team has moved to create a new testnet to demonstrate the code update a final time before trying again to deploy it.
On social media, the Ethereum Foundation said that on March 26, the test chain will be upgraded to the new version of %Ethereum (CRYPTO: $ETH) and evaluated for performance and stability.
A successful test in late March will then pave the way for developers to again try and institute the Pectra upgrade that includes several code changes designed to make Ethereum faster, more efficient, and more user-friendly.
Most importantly, the Pectra upgrade is expected to add “smart contract” functionality and give users the ability to pay transaction fees in cryptocurrencies other than Ethereum.
The Pectra upgrade is now expected to be completed by the end of April or early May this year.
The problems with the Pectra enhancements come at a difficult time for Ethereum.
The network is facing pressure from declining prices, a leadership transition at the Ethereum Foundation, and growing competition from other blockchains such as %Solana (CRYPTO: $SOL).
ETH is currently trading at $1,900 U.S., having declined 51% over the past year.
