Ethereum Dencun Upgrade Goes Live: What to Expect

Blockonomics
Ethereum Dencun Upgrade Goes Live: What to Expect
Paxful


The Ethereum mainnet has successfully implemented the Dencun upgrade. This is a significant milestone that promises to drastically lower the gas fees for Ethereum’s Layer 2 (L2) networks.

The upgrade, reaching its scheduled epoch at block height 269568, according to Etherscan data, marks a pivotal moment for Ethereum, aiming to enhance scalability and affordability for its users.

Ethereum Dencun Upgrade Goes Live

Dubbed Dencun, a fusion of the project names Deneb and Cancun. This hard fork combines upgrades across the consensus and execution layers of Ethereum.

The heart of Dencun lies in its introduction of “proto-danksharding” through Ethereum Improvement Proposal (EIP) 4844. This mechanism improves the blockchain’s efficiency in handling data from L2 networks. Its approach to “sharding” is anticipated to reduce costs for users and developers significantly. Therefore, it makes Ethereum a more accessible and user-friendly platform.

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Read more: How to Buy Ethereum (ETH) and Everything You Need to Know

Fee Estimation After Dencun Upgrade. Source: IntoTheBlock

The Dencun upgrade, which has been in the pipeline for several years, underwent rigorous testing on three separate test networks to ensure a smooth transition. Despite an initial hiccup during the first test on the Goerli network, subsequent tests proceeded without major issues, leading to the successful launch of the upgrade.

The Ethereum community has celebrated this milestone with watch parties. These have been organized by developer groups such as EthStaker and Nethermind, highlighting the collective enthusiasm and support for this update.

“Ethereum upgrades are the most exciting events in crypto for me. I love that I get to be part of them via co-hosting livestreams and being a solo staker that helps keep the network decentralized! Dencun is done so we’re now on to looking forward to the next upgrade,” independent Ethereum educator Anthony Sassano said.

Read more: Ethereum (ETH) Price Prediction 2024/2025/2030

Looking ahead, the Ethereum community is already gearing up for the next set of upgrades. There are ongoing discussions about the contents of the upcoming Electra + Prague (Petra) upgrade. Among the contenders for inclusion is an upgrade known as “Verkle Trees,” which further enhances the blockchain’s data storage capabilities.

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