Dencun Upgrade Mainnet Scheduled Confirmed
Finally, core developers in the Ethereum ecosystem have decided on the date that the Dencun upgrade will go live on the mainnet. According to Tim Beiko of the Ethereum Foundation, the Dencun upgrade is scheduled for activation at slot number 8626176 and it is estimated to happen on March 13, 2024. Moreso, Beiko announced on X that this feature will introduce blob transactions as well as transient storage.
These blobs are designed to reduce rollup costs on the Ethereum mainnet. It achieves this feat by compressing transaction data off-chain, a move that mitigates the demand for storage and processing. The news comes only a few hours after the Dencun upgrade completed its third testnet deployment on the Holesky testnet.
Once the Dencun upgrade is completed, it will enhance the capability of the Ethereum network. Precisely, the network would be expected to handle anything from 30,000 to 100,000 transactions per second (TPS). At the moment, the Ethereum network can only handle about 13 to 60 TPS. In addition, it is expected to lower gas fees, a major menace the foundation has dealt with since its inception
Markedly, the Dencun upgrade is expected to improve the scalability of the Ethereum blockchain network.
Upgrade Closer than Before
Two weeks into this year, core developers in the Ethereum ecosystem rolled out the Dencun upgrade on the Goerli test network and this brought with it EIP-4844, a revolutionary transaction mechanism referred to as โProto-DankSharding.โ This feature is designed to promote transaction fee slash on Layer-2s to a very significant extent.
Ultimately, the Proto-dankSharding is focused on revolutionizing the Ethereum transaction landscape including reducing transaction costs for decentralized applications (dApps).
Recently, Galaxy Researcher Christine Kim unveiled two crucial dates that members of the Ethereum ecosystem should look out for. First, she noted that the Ethereum Dencun upgrade on the Sepolia testnet is expected to be activated by January 30 and it did take place on the said date.
Next, she said the same upgrade would happen on the Holesky testnet on February 7 and this was the last of the three testnet to run through the simulation of Dencun. With the successful implementation of both testnets and the new date release, the launch of the Dencun upgrade, slated to usher in a new era on Ethereum is closer than ever,
Gapster Innes emerges as a visionary adeptly blending the roles of crypto analyst, dedicated researcher, and editorial maestro into an intricate tapestry of insight. Amidst the dynamic world of digital currencies, Gapster’s insights resonate like finely tuned harmonies, captivating curious minds from various corners. His talent for unraveling intricate threads of crypto intricacies melds seamlessly with his editorial finesse, transforming complexity into an eloquent symphony of comprehension. Guiding both intrepid trailblazers and curious newcomers, Gapster’s insights serve as a compass for well-informed decision-making amidst the ever-evolving currents of cryptocurrencies. With the artistry of a linguistic craftsman, they craft narratives that enrich the evolving tapestry of the crypto landscape.
