Dencun Upgrade Successfully Activated on Sepolia Testnet, Promises Cost Reduction in Ethereum Network
Summary:
The Dencun upgrade is progressively being implemented in the Ethereum network, recently succeeding on the Sepolia testnet. Including several Ethereum Improvement Proposals, such as EIP-4844, the upgrade promises reduced Layer 2 transaction fees. Subject to the success of the final testnet upgrade, Holesky, Dencun might debut on the mainnet in March. The new update, encompassing significant modifications to Ethereum's consensus and execution layers, is anticipated to significantly affect the cost of layer-2 scaling protocols within Ethereum, by lowering the cost of rollups.
The process of activating the Dencun upgrade is progressively unfolding within the Ethereum network, with Sepolia testnet now successfully implementing it, free of complications. As mentioned before, the incorporation of the Dencun update on the Goerli testnet on Jan. 17 initiated several Ethereum Improvement Proposals (EIPs), among them, EIP-4844 which ushers in proto-danksharding, a long-awaited enhancement projected to decrease L2 transaction charges.
Globally recognised Ethereum expert, Anthony Sassano, detailed that the Dencun upgrade, the soon-to-arrive enhancement to the Ethereum network, was integrated into the Sepolia testnet successfully on Jan. 30. The final testnet augmentation, Holesky, should be the next in line, and if it also proceeds without issues, we might anticipate Dencun's debut on the mainnet sometime in March. EIP-4844 is on its way, he added.
Christine Kim, a researcher at Galaxy Digital, implied in an X post that the chance of Dencun's mainnet activation was steadily on the rise, but it still relied on the successful implementation of the upgrade on Ethereum’s last Holesky testnet which is scheduled for Feb. 7. Similarly, the Ethereum Foundation DevOps member Parithosh Jayanthi emphasized how seamless the integration of Dencun on Sepolia was in another X post.
The Dencun upgrade incorporates substantial modifications to Ethereum's consensus and execution layers, as explained in an official statement from the Ethereum Foundation. One key aspect of the Dencun update is its potential to dramatically influence the expense associated with the layer-2 scaling protocols in the Ethereum network. Proto-danksharding, or EIP-4844, seeks to lower the cost of rollups, which approach is to aggregate transactions and data off-chain and then provide computational evidence to the Ethereum blockchain.
EIP-4844 will include data blobs which can be directed and added to blocks. The content stored in blobs is not reachable by the Ethereum Virtual Machine and will be removed after a specified duration, a move that promises to significantly cut down transaction expenses.
Published At
1/31/2024 1:58:41 PM
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