Disclaimer: Information found on CryptoreNews is those of writers quoted. It does not represent the opinions of CryptoreNews on whether to sell, buy or hold any investments. You are advised to conduct your own research before making any investment decisions. Use provided information at your own risk.
CryptoreNews covers fintech, blockchain and Bitcoin bringing you the latest crypto news and analyses on the future of money.
The Dencun network upgrade has been successfully implemented across all testnets as of February 27.
In a blog entry, the Ethereum Foundation revealed that the much-anticipated Dencun upgrade is set to be activated on the Ethereum mainnet on March 13 at 8:55 am EST.
Blobs are on the way .oO
Dencun is planned for mainnet activation at epoch 29696, which will take place on March 13 at 13:55 UTC. Refer to the announcement below for client release versions and additional pertinent information regarding the upgrade
https://t.co/9Wa3Y5M5k4
— timbeiko.eth
(@TimBeiko) February 27, 2024
(@TimBeiko) February 27, 2024Ethereum Dencun Upgrade
“Two years after its inception at ETHDenver, following numerous testing calls and devnets, protodanksharding is finally going live on mainnet,” stated the Ethereum Foundation in its announcement.
Stakers will need to update their beacon nodes and validator clients to maintain compatibility with the upgrade.
As per Galaxy Digital researcher Christine Kim, “All client teams, with the exception of Lodestar, have released final software versions for the Dencun upgrade.”
Related Posts
A successful test of the upgrade was conducted on the Holešky testnet earlier this month, following earlier tests on the Goerli and Sepolia testnets.
The upgrade is expected to introduce EIP-4844: proto-danksharding to the Ethereum blockchain. Rollups will gain the ability to include “blobs” of data on a beacon node under EIP-4844.
“The data contained in these blobs is not accessible to the EVM and is automatically removed after a predetermined time frame (1-3 months),” a post on the Ethereum Organization’s website highlighted. “This allows rollups to transmit their data at a significantly lower cost and pass those savings on to end users through reduced transaction fees.”
The term Dencun is derived from a combination of star and Devcon city names, according to the Ethereum Foundation. Dencun merges Deneb, symbolizing a star, and the location of Devcon 3, which is Cancun.
Ethereum is Expanding
Crypto asset manager Grayscale mentioned in a blog post last week that the Dencun upgrade is among several elements contributing to Ethereum’s transition into its maturation phase, asserting that the upgrade will assist in making Ethereum a “more scalable, efficient, and user-friendly platform.”
“Despite growing competition, Ethereum benefits from several favorable conditions, including network effects and billions in network revenue, the Dencun upgrade, a thriving Layer 2 ecosystem, and increasing applications for its security budget,” Grayscale stated. “Additionally, the possibility of a spot Ethereum ETF could elevate ETH’s profile among both institutions and the general public.”
The post Dencun Upgrade Launches on Ethereum Testnets, Receives Mainnet Launch Date of March 13 appeared first on Cryptonews.
