Preparing for the Ethereum Dencun Upgrade
If you’re an innovator within the Ethereum network, it’s crucial to prepare for the upcoming Ethereum Dencun Upgrade. Christine Kim, a developer at Galaxy, has shared a to-do list to help you get ready:
- Validators running on “mev boost” need to update their software to the new version or v1.7, which will be available for download soon.
- Ethereum validators running relays should switch to the latest relay release, v0.29.1, to prevent withdrawals during the Dencun fork.
- Ethereum builders should embrace the latest version, v1.13.12.4844.dev1, which is the most recent upgrade to the Dencun testnets.
The Ethereum Dencun Upgrade is a game-changing innovation that will introduce Proto-Danksharding or “blob” transactions for cheaper processing and improved scalability. This upgrade will significantly reduce transaction costs and positively impact Ethereum.
Ethereum to Wrestle its Cheaper Competitors
The high gas costs of Ethereum have led to the emergence of alternative chains like Solana (SOL) and Cardano (ADA). Industry experts, such as Peter Brandt, have criticized Ethereum for its low usability due to these costs.
When Ethereum transitioned into the Proof-of-Stake (PoS) consensus model in 2022, there was an expectation that gas fees would decrease. However, this did not happen as promised in subsequent upgrades. The Ethereum Dencun Upgrade aims to fulfill this promise by reducing gas fees and improving liquidity.
Hot Take: Anticipation Builds for the Ethereum Dencun Upgrade
The upcoming Ethereum Dencun Upgrade is highly anticipated by the community. It has the potential to make Ethereum a more sustainable and cost-effective blockchain platform. The excitement surrounding this upgrade is at its peak, and the crypto world is eagerly waiting to see the impact it will have on Ethereum’s future.
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