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9 months ago
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ARTICLE AD BOX
The long-anticipated Dencun upgrade finally went live on the Ethereum mainnet Wednesday morning at around 9:55 am ET.
Dencun’s core revolves around EIP 4844, often called “proto-danksharding,” which seeks to enhance blockchain scalability by expanding the capacity for data “blobs.” These modifications are anticipated to lower costs associated with layer 2 rollups as well.
- According to Tim Beiko, the head of the protocol support team at the Ethereum Foundation, Dencun incorporates 9 Ethereum Improvement Proposals (EIPs), making it the largest single hard fork in terms of improvements deployed.
- Layer-2 solutions such as Arbitrum, Optimism, and Polygon stand to gain the greatest advantage from Dencun. These solutions contribute to the Layer-1 blockchain’s scalability by aggregating user transactions and transmitting them to Ethereum for collective settlement.
The Dencun upgrade is now live on the Ethereum mainnet bringing with it a host of EIPs including the beloved EIP-4844!
The blobs are here and a new era of Ethereum scalability has begun! pic.twitter.com/ZQwwUsmYVv
— sassal.eth/acc 
(@sassal0x) March 13, 2024
- Following Dencun’s implementation, these Layer-2 solutions will have the capability to submit data to Ethereum within the dedicated “blobspace,” eliminating the need to incur additional expenses to fit the data into standard transactions.
- This improvement theoretically enables Layer-2 solutions to settle a greater volume of data more effectively, all while lowering transaction fees for end-users.
- Announcing the milestone, Beiko tweeted,
“Dencun is both the most complex fork we’ve shipped since the Merge, and tied for “most total EIPs in a fork” with Byzantium. There were more teams than ever involved in the process, and it somehow all worked out smoothly…! Grateful to work with all of them, onto the next one.”
The post Ethereum’s Dencun Upgrade Goes Live on Mainnet: Promises Lower Fees and Enhanced Scalability appeared first on CryptoPotato.
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