Ethereum Foundation triumphs with Dencun release on testnets! 🚀

The Ethereum Dencun Upgrade: Enhancing Scalability and Efficiency

The Ethereum Foundation has successfully activated the Dencun upgrade across testnets, paving the way for its launch on the Ethereum mainnet. The upgrade, scheduled for 13th March, aims to enhance Ethereum’s scalability, reduce transaction costs, and improve network efficiency. Here’s what you need to know:

Ethereum Dencun Upgrade Set For Launch

In a blog post on 27th February, the Ethereum Foundation confirmed the successful activation of the Dencun upgrade across testnets. The upgrade will be implemented on the Ethereum mainnet on 13th March. This is a significant milestone for Ethereum as it strives towards achieving improved scalability and cost-effectiveness for its users.

“The Dencun network upgrade has successfully activated on all testnets. It is now set for deployment on the Ethereum mainnet and will activate on the network at epoch 269568, occurring on 13th March 2024 at 13:55 UTC.”

Several Notable Improvements

The Dencun upgrade builds upon the previous Shapella upgrade and introduces various enhancements to improve Ethereum’s network efficiency and capacity. Here are some of the key improvements:

Introduction of temporary data blobs through EIP 4844 (protodanksharding), which helps reduce Layer-2 transaction fees and enhances accessibility and cost-effectiveness for users.
Minimization of storage and processing requirements by caching data in blobs for short-term transaction verification, thereby improving the network’s transactional capability.

“The data in these blobs is not accessible to the EVM and is automatically deleted after a fixed time period (1-3 months). This means rollups can send their data much more cheaply and pass the savings on to end users in the form of cheaper transactions.”

Updates Required

In preparation for the Dencun upgrade, the Ethereum Foundation has issued guidelines and specifications to ensure a smooth transition for stakers. Here are the key points to note:

Stakers must update their nodes and validator clients to ensure compatibility with the latest update and specific versions outlined by the Foundation.
Failure to update nodes and validator clients may leave users on an incompatible chain, restricting their ability to send ETH or operate on the network post-upgrade.

The upgrade was first launched on Ethereum’s Sepolia testnet in January 2024, following its successful implementation on the Goerli testnet. Once fully implemented, Dencun is expected to significantly increase Ethereum’s transaction processing capability, potentially surpassing 100,000 transactions per second.