Ethereum‘s upcoming Dencun upgrade, set for a February 8 mainnet launch, carries promising amendments aimed at enhancing the blockchain’s efficiency. This upgrade is set to incorporate several Ethereum Improvement Proposals (EIPs), with a notable focus on proto-danksharding, which is projected to significantly lower Layer-2 network transaction costs.
Ethereum Core Developers Anticipate Successful Upgrade
Tim Beiko, an Ethereum core developer, shared optimistic updates on Reddit regarding the upgrade’s final testing phases, demonstrating smooth progress. He discussed key takeaways from the All Developer Execution Call, where discussions underscored the Sepolia fork’s recent achievements and the forthcoming Holesky testnet upgrade scheduled for February 7.
The Dencun upgrade builds upon Ethereum’s prior Shapella upgrade, which occurred on April 12, 2023, and introduced functionalities crucial for the network’s long-term appeal, especially to institutional investors. Beiko has suggested that, assuming continued positive test outcomes, the mainnet fork timing will be decided in the upcoming core developers’ call.
Galaxy Digital Research Weighs In on Upgrade Timelines
Galaxy Digital’s VP of Research, Christine Kim, estimated a strong likelihood of the Dencun upgrade going live by the end of March. She also mentioned a potential end-of-February launch, but with a lower probability.
The Goerli test network already experienced the Dencun network upgrade on January 17, where it began testing EIPs including EIP-4844. This particular proposal is set to drastically cut fees on Ethereum’s Layer-2 networks through a method known as proto-dank sharding. This approach reduces rollup costs by using blobs, a new data storage format that makes data availability more cost-effective.