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Ethereum, the second-largest cryptocurrency by market capitalization, is poised for a groundbreaking update set to revolutionize its functionality.
The forthcoming Dencun upgrade, slated for deployment on March 13, heralds the arrival of a pivotal feature known as “proto-danksharding,” aimed at enhancing the blockchain’s scalability and reducing transaction costs.
Proto-danksharding, a technical innovation in data storage on Ethereum, will enable transactions on secondary networks, termed “layer-2,” to utilize dedicated space within the blockchain for data storage. This innovative approach promises to alleviate congestion and lower fees on the main Ethereum network while facilitating the operation of more sophisticated applications.
Dencun Upgrade Has Been in the Works for Years: Ethereum DevOps
The announcement of the Dencun upgrade came following its successful validation on the Holesky testnet, marking the final phase before deployment on the mainnet. The upgrade will be triggered upon the blockchain reaching slot 8626176, with the anticipated activation time set for 13:55 UTC on March 13.
Blobs are coming to mainnet at slot 8626176 .oO
— timbeiko.eth ☀️ (@TimBeiko) February 8, 2024
However, the precise date is subject to confirmation by developers on GitHub, the platform hosting Ethereum’s open-source code.
The Dencun upgrade is the result of years of research and development by the Ethereum community. Parithosh Jayanthi, a DevOps engineer at the Ethereum Foundation, told CoinDesk that it was “great to see years worth of effort finally being scheduled for Ethereum mainnet.”
The Dencun upgrade serves as a precursor to the ambitious objective of “danksharding,” an advanced iteration of proto-danksharding. Danksharding envisages the partitioning of the blockchain into parallel chains, each autonomously processing data and transactions. This innovative approach is poised to substantially enhance the Ethereum network’s capacity and performance, catering to the escalating demand for decentralized applications.
If you are interested in learning more about the Dencun upgrade and how it will affect the Ethereum ecosystem, you can sign up for our free newsletter and get the latest crypto signals delivered to your inbox.
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