The last public Ethereum testnet upgrade, Holesky, before the Ethereum mainnet upgrade, is scheduled to launch today (7) at approximately 7:30 PM Taiwan time. Once Holesky is successfully launched, the Ethereum core team will confirm the mainnet deployment date, which is currently estimated to be between early March and mid-March.
Background:
Ethereum Kanqun upgrade progress: Sepolia and Holesky testnets launched in early February, mainnet possibly by the end of February.
During the Ethereum core developers’ latest meeting, the progress of the Dencun update and the Prague proposal were discussed.
After the Shapella upgrade in March last year, the next significant Ethereum upgrade, Dencun, went live on the Goerli testnet on January 17. Following the successful launch on the Goerli testnet, Sepolia was also launched as planned on January 31, Taiwan time.
According to Wen merge data, the last public Ethereum testnet upgrade, Holesky, before the Ethereum mainnet, will be launched today (7) at approximately 7:30 PM Taiwan time. Once Holesky is successfully launched, the specific mainnet deployment date will be confirmed during tomorrow’s AllCoreDevs conference call. Currently, it appears that the mainnet deployment will likely fall between early March and mid-March.
Dencun Upgrade: Enhanced Scalability and Reduced Transaction Fees
The term “Dencun” is a compound word composed of “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, known as “Deneb.” Therefore, it is collectively referred to as “Dencun.”
The Dencun upgrade includes multiple 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 (the Blob can be deleted after 18 days). This significantly enhances Ethereum’s scalability and is expected to reduce Layer2 transaction costs by 10-100 times.
Other proposals included in the Dencun upgrade are 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.
Unshakable Leadership in Public Chains?
It is worth mentioning that following the Solana network outage incident on the evening of the 6th, NFT Finance founder @tytaninc spoke up for Ethereum on the X platform. He pointed out that Ethereum holds a dominant position in the DApp deposit market, with a total value locked (TVL) of $34.8 billion, accounting for 57.8% market share.
Furthermore, when considering Layer2 solutions like Polygon, Optimism, and Arbitrum, its market share rises to 67.4%. Despite the average transaction fee of $5.85, nearly 380,000 active addresses have interacted with Ethereum DApps in the past week, demonstrating its leadership in the DApp field. He stated:
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TVL Market Share | Source: DeFiliama
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