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Ethereum’s Dencun upgrade nears Mainnet launch after successful testing

Dencun

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TL;DR

  • Dencun upgrade’s proto-dank sharding may slash Ethereum transaction costs.
  • Successful testing increases the chances of a February/March mainnet launch.
  • Dencun could lure institutional investors and boost scalability.

Recent testing of the Dencun upgrade has yielded positive results, paving the way for Ethereum developers to set a mainnet launch. The upgrade aims to enhance scalability and reduce transaction costs on layer-2s through the introduction of proto-dank sharding, a groundbreaking process.

Testing success spurs confidence in Dencun upgrade

Ethereum core developer Tim Beiko announced on Reddit that the testing of the upcoming Dencun upgrade had proceeded smoothly. The positive outcomes were discussed during the All Developer Execution Call (ACDE) 180 call, where developers highlighted the success of the Sepolia fork and the forthcoming Holesky test net upgrade on February 7.

Major changes in the Dencun upgrade

The Dencun upgrade, outlined in a blog post from the Ethereum Foundation, includes significant alterations to Ethereum’s consensus and execution layers. This follows the Shapella upgrade executed on April 12, 2023, which allowed the unstaking of Ether and aimed to attract more institutional investors to Ethereum.

Assuming continued positive developments, Ethereum developers plan to finalize the mainnet launch date for the Dencun upgrade during next week’s All Core Developers Call (ACDC). 

Galaxy Digital’s vice president of research, Christine Kim, estimates an 80% chance of Dencun’s mainnet activation by the end of March, with a possibility of going live by the end of February, albeit at a lower 40% likelihood.

Proto-Danksharding’s role in transaction cost reduction

The Dencun upgrade, activated on the Goerli testnet on January 17, introduces several Ethereum Improvement Proposals (EIPs), including EIP-4844, enabling proto-dank sharding. This process is anticipated to significantly decrease transaction fees on Ethereum layer-2s.

Proto-danksharding’s objective is to lower the cost of rollups, which commonly batch transactions and data off-chain before submitting computational proof to the Ethereum blockchain

This is achieved by introducing a novel compartmentalized container for data known as “blobs,” effectively making data availability more cost-effective.

Market outlook and speculation

As the Ethereum community awaits the mainnet launch date announcement, speculations regarding Dencun’s activation timeline abound. Christine Kim’s assessment, indicating an 80% chance of activation by the end of March, adds to the anticipation. 

However, the possibility of Dencun going live by the end of February, though acknowledged, is considered less probable at a 40% likelihood.

Disclaimer. The information provided is not trading advice. Cryptopolitan.com holds no liability for any investments made based on the information provided on this page. We strongly recommend independent research and/or consultation with a qualified professional before making any investment decision.

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Lacton Muriuki

Lacton is an experienced journalist specializing in blockchain-based technologies, including NFTs and cryptocurrency. He dabbles in daily crypto news rich with well-researched stats. He adds aesthetic appeal, adding a human face to technology.

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