Ethereum’s Dencun Upgrade Progresses Smoothly on Testnet, EIP-4844 Poised for March Mainnet Release

Ethereum’s Dencun upgrade has smoothly navigated the Sepolia testnet without encountering major issues, according to updates from Ethereum core developers Paritosh J and Tim Beiko. This marks a significant step toward the mainnet release of Ethereum Improvement Proposal (EIP) 4844, also known as protodanksharding, which aims to reduce transaction costs for Layer 2 chains.

The Dencun upgrade, considered crucial for the Ethereum ecosystem, introduces blobs—data units attached to existing Ethereum blocks. These blobs aim to decrease the storage requirements for Layer 2 chains, leading to reduced operational and transaction costs. This upgrade follows Ethereum’s transition from Proof-of-Work to Proof-of-Stake with the Merge.

The successful testing on the Sepolia testnet positions EIP-4844 for its final step, the Holesky testnet release. If this phase proceeds smoothly, EIP-4844 and the broader Dencun upgrade could be implemented on the Ethereum mainnet by March.

Christine Kim, Head of Research at Galaxy Digital, estimates a 70% likelihood of Ethereum’s Dencun release on the mainnet. This upgrade is eagerly anticipated by Ethereum holders and the broader crypto community for the transformative changes it brings to the network.

Leave a Reply

Your email address will not be published. Required fields are marked *