Dencun, the Ethereum update (technically "hard fork") I talked about here https://www.publish0x.com/blogging-crypto/dencun-the-ethereum-revolution-xgvjknz, was successfully activated last week on the Goerli testnet, but due to some inconveniences due to the lack of participation of sufficient validators, it was not "finalized".
Despite everything, Dencun will still be activated on Sepolia and if all goes well, it will also be activated on Holesky. The launch date of the mainnet will only be decided later, but it is expected to take place around the end of February/beginning of March.
According to the official press release (https://blog.ethereum.org/2024/01/24/sepolia-holesky-dencun) the next and final steps for the integration of Dencun will be two steps on the Sepolia and Holesky testnets, on January 30 and February 7, to then act directly on the mainnet.
Proto-danksharding, the protagonist of the update, is fundamental for Ethereum because it represents a step towards the completion of sharding, the technology that aims to improve the scalability of the network and above all to reduce transaction costs.
Specifically, proto-danksharding introduces a new type of transaction that allows you to include large amounts of data, called blobs. These blobs can be used to store information related to smart contracts, NFTs, or other data.
Including blobs in transactions, as mentioned above, reduces transaction costs because miners no longer have to process the data stored in the blobs.
The potential benefits, in summary, are:
- Cost reduction up to 90%;
- increase network throughput up to 100 times;
- improved data efficiency up to 50%.
Thus, Dencun is one of the most important steps in the development of Ethereum since the Shapella hard fork last April. It would certainly be a good step forward, so as to respond to the performances of Solana which for now dominates in terms of very low commissions and speed.
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