Ethereum Developers Plan Launch of Dencun Upgrade, Set to Lower Transaction Costs
Summary:
Ethereum developers are planning a launch date for the anticipated Dencun upgrade. Key features of the Dencun upgrade include proto-dank sharding meant to reduce transaction costs on layer-2s. The upgrade will feature several significant modifications to Ethereum's consensus and execution layers. The success of recent preliminary upgrades like the Shapella upgrade and the Goerli testnet has increased the likelihood of the Dencun mainnet activation by end of March to 80%. The introduction of a new data storage unit, known as "blobs", is expected to make data availability cheaper.
The Ethereum developer team is scheduling a launch date for its Dencun upgrade this Thursday. This upgrade achieves several EIPs, including the much-anticipated proto-dank sharding, which is set to lower transaction charges on layer-2s. On February 1, Ethereum's staple developer, Tim Beiko, took to Reddit to announce that the upgrade testing went very well and gave important specifics of the All Developer Execution Call (ACDC) 180 call, which highlighted the success of the Sepolia fork on January 30 and the forthcoming Holesky testnet upgrade on February 7.
The Dencun modification constitutes various significant changes to Ethereum’s consensus and execution layers, as covered in a January 24 post by the Ethereum Foundation. The improvement is a follow-up to last year's Shapella upgrade, that was executed on the Ethereum mainnet on April 12, 2023, unbinding Ether and was seen as a crucial upgrade to attract more institutional investors to Ethereum.
Provided everything proceeds as planned, a mainnet fork time will be selected during next week's ACDC call, noted Beiko. The next meeting of the ACDC is planned for later next week. Christine Kim, Vice President of Research at Galaxy Digital, estimated the probability of Dencun mainnet activation by the close of March at 80%. She also suggested the possibility of Dencun launching by the end of February but quantified the likelihood of this happening at 40%.
The Dencun network enhancement was initially initiated on the Goerli testnet on January 17, presenting multiple EIPs, including the EIP-4844 which enables proto-dank sharding, a major improvement that developers believe will significantly lower transaction costs on Ethereum layer-2s.
Proto-dank sharding is designed to lower the cost of rollups, commonly used to batch transactions and Data off-chain while providing computational evidence to the Ethereum blockchain. It accomplishes this by making data accessibility more affordable with the introduction of a new, segmented container for data, known as "blobs.
Published At
2/2/2024 6:22:47 AM
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