Ethereum developers are set to launch a new testnet named Hooli on March 17 to address configuration issues encountered during previous tests of the Pectra upgrade on Sepolia and Holesky testnets. The Pectra upgrade, aimed at improving Ethereum's speed, efficiency, and user-friendliness, is expected to be deployed approximately 30 days after successful testing on Hooli, potentially reaching the main network by late April or early May. The Pectra upgrade includes significant changes such as adding 'smart contract' functionality to addresses, enabling user wallets to be programmed with new features like paying transaction fees in currencies other than ETH. Amidst challenges including declining ETH prices and competition from newer blockchains like Solana, the upgrade is seen as vital for Ethereum's technical roadmap. In parallel developments, Monad, an EVM-compatible Layer 1 blockchain, has demonstrated high performance by processing 4,821 transactions in a single block. Monad's testnet, which is currently undergoing stress tests, showcases its potential to improve blockchain speed and scalability, with capabilities up to 10,000 transactions per second. The testnet also supports ecosystem projects like klok_app, positioning it for future airdrops and broader ecosystem development.