Ethereum’s Dencun upgrade is set to dramatically reduce transaction costs, according to developers, and the upgrade has now seen them set a timeline for its release according to a recent blog post from the Ethereum Foundation.
The organization has outlined the upcoming completion of the Sepolia and Holesky testnets, with the upgrade first being launched on Sepolia on January 30, before moving to Holesky on February 7. The Dencun upgrade, as a result, should be on Ethereum’s mainnet by March.
The post notes that Dencun will be scheduled on the Ethereum mainnet after it’s successfully tested on the Sepolia and Holesky testnets.
The Ethereum network has been historically hampered by congestion issues, leading to high transaction fees and delays during times of heightened network activity, which have priced out users with smaller amounts.
Through Ethereum Improvement Proposal (EIP) 4844, or proto-danksharding, the upgrade aims to address these issues by enhancing the network's capacity to handle over 100,000 transactions per second by making Ethereum layer-2 solutions cheaper.
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- Source: https://www.cryptocompare.com/email-updates/daily/2024/jan/26/
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