Ethereum (ETH) developers announced plans to deploy the long-awaited Dencun upgrade on March 13th, aiming to significantly improve the network’s speed and affordability.
Blobs are coming to mainnet at slot 8626176 .oO
— timbeiko.eth ☀️ (@TimBeiko) February 8, 2024
This comes days after the Dencun upgrade was successfully implemented on the Holesky testnet.
Almost 2 years later, protodanksharding is finally slotted to go live on Ethereum Mainnet March 13th! 🎉 https://t.co/Kz9QkUWMMH
— liam.eth (@liamihorne) February 9, 2024
The key feature is “proto-danksharding,” a step towards a system called “danksharding” that streamlines data verification for transactions on Ethereum’s “layer-2” networks.
These networks already offer faster and cheaper transactions than the main Ethereum (ETH) network, but danksharding promises even further efficiency.
This upgrade addresses a major criticism of Ethereum: high gas fees and slow transaction speeds.
While layer-2 solutions like Optimism and Arbitrum provided some relief, Dencun aims to make them even more efficient and affordable.
Developers believe the fully implemented danksharding could eventually handle over 100,000 transactions per second at low costs.
Dencun represents the most significant upgrade since the Shanghai update last April, which allowed Ethereum stakers to withdraw their funds.
While both had economic implications, Dencun directly impacts the everyday usability of the Ethereum ecosystem.
Disclaimer: The information provided is not trading nor financial advice. Bitcoinworld.co.in holds no liability for any trading or 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 trading or investment decisions.