Ethereum Sets Date For Dencun Upgrade

February 8, 2024 6:50 pm Comments

Ethereum has set a launch date for the long-awaited Dencun upgrade.

Dencun, otherwise known as EIP-4844, aims to drastically reduce the cost of Ethereum Layer-2 transactions by making transactions far more efficient.

The network aims to achieve this through a process known as proto-danksharding, with the hopes that full danksharding will be coming to the blockchain network in a future upgrade.

Low transactions per second, network congestion, and incredibly high gas fees have been plaguing Ethereum for years now, and developers have long tried to find a solution to the chaos.

Everything from layer 2 solutions to the introduction of sharding techniques has been proposed as a solution to the ongoing problems of high transaction costs and congestion on Ethereum. Hopefully, Dencun will do the trick, or at least remedy some of the problems. Multiple outlets confirmed the launch date of the slated upgrade:

Forkast went into more detail on the implications of the upgrade:

By improving throughput and reducing fees, Ethereum can maintain its competitive edge in the decentralized finance (DeFi) and non-fungible token (NFT) sectors, where it currently holds a dominant position.

Ethereum is the leader for NFT sales volume with over US$42 billion in all-time sales, according to CryptoSlam data.

Colin Wu explained: “The precise moment of the Dencun upgrade on the main Ethereum network – also known as a “hard fork” – will trigger when the blockchain reaches slot 8626176, occurring at 13:55 UTC on March 13.”

The Block added:

EIP-4844 aims to incorporate off-chain “data blobs,” enabling the inclusion of more data in Ethereum transactions without affecting block processing times.

Blobs are designed to help Ethereum better support Layer 2 networks, such as zkSync, Optimism and Arbitrum.

Join the conversation!

We have no tolerance for comments containing violence, racism, profanity, vulgarity, doxing, or discourteous behavior. If a comment is spam, instead of replying to it please click the icon below and to the right of that comment. Thank you for partnering with us to maintain fruitful conversation.