The Ethereum core team has finalized the upgrade date for Dencun! It is confirmed to be launched on March 13th at 9:55 PM Taiwan time in Slot 8626176.
Since the Shapella upgrade in March last year, the next major upgrade for Ethereum, Dencun, went live on the Goerli testnet on January 17th. Subsequently, the Sepolia and Holesky testnets were successfully launched at the end of January and early February respectively. Yesterday (8th), the upgrade date for Dencun was finally determined, and it is set to officially launch on March 13th at 8:55 AM Eastern Time in Slot 8626176.
Parithosh Jayanthi, a DevOps engineer at the Ethereum Foundation, expressed his excitement about the upcoming upgrade of the Ethereum mainnet through Telegram. He said:
“Dencun Upgrade: Enhancing Scalability and Reducing Transaction Costs”
Dencun is a compound word formed by combining “Cancun” and “Deneb.” In this upgrade, the “Cancun” upgrade occurs at the Ethereum execution layer, which includes rule changes for all protocols. On the other hand, the consensus layer responsible for block validation will undergo its own fork, which is referred to as “Deneb.” Therefore, the upgrade is collectively called “Dencun.”
The Dencun upgrade includes several updates, with the most notable core proposal being EIP-4844: Proto-Danksharding. It introduces a new transaction type called Blob, which is used to temporarily store transaction data (Blob can be deleted after 18 days), greatly improving Ethereum’s scalability and potentially reducing Layer2 transaction costs by 10-100 times.
Furthermore, because the Dencun upgrade helps reduce the cost of available data on Ethereum, this will make projects like Celestia, Avail, and EigenDA more attractive.
The Dencun upgrade also includes several other proposals, such as EIP-1153, which introduces a temporary storage system to further reduce costs, and EIP-4788, which enhances transparency by storing the root of each beacon chain block in smart contracts.
Although the Dencun upgrade is imminent, the price of Ethereum has not seen a significant increase, rising only 5.7% in the past 7 days. However, it is worth keeping an eye on subsequent Layer2 projects such as Arb, Op, and ETH price, which may be influenced by this news.
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