Ethereum’s Dencun Upgrade Set to Boost Network Performance
The highly anticipated Dencun upgrade for the Ethereum network is scheduled to go live on March 13. This upgrade will introduce proto-danksharding, reduce transaction costs, and improve overall network performance. The launch date was determined in a developer call shortly after the upgrade was deployed to the Holesky testnet. Part of the “The Surge” era, the goal of this upgrade is to enable the network to handle over 100,000 transactions per second on rollups.
Lower Fees for Improved Scalability
A significant feature of the Dencun upgrade is Ethereum Improvement Proposal 4844 (EIP-4844), which introduces Shard Blob Transactions or Proto-Danksharding. This allows the network to accept transactions with large amounts of data, making it easier for rollups to interact with the ecosystem. By enabling lower fees for rollups without compromising decentralization, EIP-4844 aims to enhance scalability and competitiveness while addressing high gas prices that have been a concern for the Ethereum community.
Major Milestone Reached in Ethereum Staking
In addition to the upcoming upgrade, there is positive news for Ethereum stakeholders. Data indicates that over 25% of the total ETH supply has been staked, with a significant portion staked through Lido and Coinbase. With more than 943k validators securing the network and a substantial amount staked, this milestone reflects strong confidence in Ethereum’s future. The recent performance of ETH also demonstrates its resilience compared to BTC.
Enhancing Accessibility for Developers
Ethereum has long been popular among developers in the blockchain space; however, accessibility has been a challenge due to complex development processes. To address this, the Ethereum Foundation launched the Ethereum Protocol Fellowship (EPF) program in 2021, aiming to onboard developers and provide them with hands-on experience. Now, the foundation has introduced the EPF study group (EPFsg), a precursor to the EPF program, which offers a 10-week part-time commitment for participants to gain a deeper understanding of protocol design, testing methods, and research.
Promising Future for Ethereum
With the Dencun upgrade, ongoing staking milestones, and initiatives to enhance developer accessibility, Ethereum is poised for growth and development in 2024. Despite potential challenges along the way, Ethereum’s performance and price outlook remain positive.
By
By
By
By