Ethereum Foundation Reveals Finalized Dencun Upgrade Timeline

Ethereum Foundation Reveals Finalized Dencun Upgrade Timeline

In a recent announcement by the Ethereum Foundation, the Ethereum blockchain network is set for a major enhancement through the introduction of Dencun. The foundation elaborated that Dencun is scheduled to launch on the Sepolia network at epoch 132,608 on Jan. 30, 2024, and will subsequently activate on the Holesky network at epoch 29,696 on Feb. 7, 2024.

Ethereum’s Path to Upgrade: Foundation Announces Dencun Timeline, Targeting Scalability Boost

The Ethereum Foundation has published a timeline for the upcoming Sepolia, Holesky, and Dencun milestones. Dencun’s most notable introduction is Proto-Danksharding, a groundbreaking concept aimed at future scalability enhancements. This innovation is expected to optimize gas fees significantly, making transactions more cost-effective for users. The upgrade also focuses on improving the network’s modular scalability, an essential aspect of Ethereum’s expanding ecosystem.

Ethereum Foundation Reveals Finalized Dencun Upgrade Timeline

Following successful activations on Sepolia and Holesky, Dencun will be scheduled for deployment on the Ethereum mainnet. This step is crucial, as it signifies the transition of the upgrades from the testing phase to real-world application. Ethereum developers and users have eagerly anticipated this final deployment, as they believe it will mark a new era for the smart-contract-centric layer-one (L1) blockchain network.

The foundation’s blog post explains that Dencun encompasses changes to Ethereum’s consensus and execution layers. The upgrade includes several key changes like EIP-4844 for Shard Blob Transactions, which will help in reducing layer two (L2) transaction fees. Other important updates include EIP-1153 for transient storage opcodes and EIP-4788, which introduces Beacon block root in the EVM.

By reducing transaction costs and improving speed, Dencun aims to make Ethereum more accessible and user-friendly. This, in turn, could lead to increased adoption and enhanced utility of the Ethereum blockchain across various sectors. Ethereum has been dealing with significant competition as L1 blockchain networks with smart contract capabilities have been hot on the network’s heels. Nevertheless, Ethereum continues to exhibit resilience and retains a dominant position in the decentralized finance (defi) sector.

What do you think about Ethereum’s Dencun upgrade? Share your thoughts and opinions about this subject in the comments section below.



from Bitcoin News https://ift.tt/ivnQXqG

Comments

Post a Comment

Popular posts from this blog

L2 Crypto Project Blast Achieves $660M TVL Amid Mockery for Key Developer Recruitment

Image
Recent data reveals that Blast, the new layer two (L2) blockchain platform, has amassed a significant $660 million in value within its decentralized finance (defi) protocol. Concurrently, while accumulating a variety of crypto assets, the initiative has commenced a search for experienced senior blockchain developers. While Amassing $660M, L2 Blast Project Searches for Developers In recent times, Blast has emerged as a focal point of interest. This project, conceptualized by Pacman , the mind behind the non-fungible token (NFT) marketplace Blur, has rapidly gained traction. Within a span of less than a week, the platform’s total value locked (TVL) soared to approximately $400 million. Concurrently, Blast faced allegations of resembling a Ponzi scheme. During this period, Paradigm, a principal investor in the project, admitted that the team had overstepped in certain aspects of communication and implementation. Pacman has also countered the Ponzi scheme allegations and further cl
Read more

Harsh Laws Make Bitcoin Holders Consider Renunciation or Dual Citizenship

Image
As digital currencies become a mainstay in society, a great number of governments have enforced strict tax guidelines, severe money transmission rules, and tough regulations. Because of a few nation-states’ harsh rules against cryptos, there are individuals who plan to renounce their citizenship in order to become stateless. Some people will also attempt to get double-citizenship, as both of these acts may help sovereign individuals avoid government intrusion and theft. Also Read: As FATF Regulations Galvanize, Crypto Mixing Applications Are Targeted A Cryptocurrency Advocate’s Quest for Financial Sovereignty May Involve Hard Choices It’s been close to 11 years since the inception of Bitcoin and during the last few years government agencies and law enforcement have been cracking down on digital currency holders. In certain areas around the world, a few countries have extremely difficult crypto laws and stringent capital gains taxes. Countries like the U.S. have imposed strict regul
Read more

2021 Bitcoin Price Predictions: Analysts Forecast BTC Values Will Range Between Zero to $600K

Image
As bitcoin has touched new price highs on Thursday nearing the $50k handle, people have been curious as to where the price will go in the future. Meanwhile, despite the gains so far, a number of luminaries, analysts, executives, and proponents from the crypto space believe the leading crypto asset will reach between $60k to six-digits this year. Mike Novogratz Predicts $100K Bitcoin: ‘Other CFOs and CEOs Are Saying, What Should We Be Doing?’ Satoshi Nakamoto’s invention has gained mass appeal in recent times as the leading digital asset bitcoin ( BTC ) has reached its highest value ever in 2021. On Thursday morning (EST), BTC spiked to an all-time high (ATH) at $48,697 per unit. Earlier in the morning at around 2 a.m., bitcoin was exchanging hands for $44,485 and saw an 8.98% increase since then. At the time of publication, at 6:30 p.m. (EST) on February 11, 2021, bitcoin (BTC) is swapping for $47,821 per coin. With BTC so close to the $50k mark, people have been forecasting
Read more