The last public Ethereum testnet, Holesky, before the upgrade to the Ethereum mainnet is scheduled to launch today (7th) at around 7:30 PM Taiwan time. Once Holesky is successfully launched, the Ethereum core team will confirm the mainnet deployment date, which is currently expected to be in early to mid-March.
(Background: Ethereum Cancun Upgrade Progress – Sepolia and Holesky Testnets to Launch in Early February, Mainnet Possibly by the End of February)
(About the Ethereum Core Developers Meeting: Dencun Update Progress, Prague Proposal)
After the Shapella upgrade in March last year, the next major Ethereum upgrade, Dencun, went live on the Goerli testnet on January 17th. Following the successful deployment on the Goerli testnet, Sepolia was launched as planned on January 31st in Taiwan time.
According to the Wen merge data, the last public Ethereum testnet, Holesky, before the upgrade to the Ethereum mainnet, is scheduled to launch today (7th) at around 7:30 PM Taiwan time. The specific mainnet deployment date is expected to be confirmed during tomorrow’s AllCoreDevs conference call after the successful launch of Holesky. Currently, it appears that the mainnet deployment timeframe will be in early to mid-March.
Dencun Upgrade: Enhancing Scalability and Reducing Transaction Fees
The term “Dencun” is a combination of “Cancun” and “Deneb.” In this upgrade, the “Cancun” upgrade occurs at the Ethereum execution layer, including rule changes for all protocols. On the other hand, the consensus layer responsible for block validation will undergo its own fork, which is referred to as “Deneb.” Therefore, the upgrade is collectively called “Dencun.”
The Dencun upgrade includes multiple updates, with the most notable core proposal being EIP-4844: Proto-Danksharding. This proposal introduces a new transaction type called Blob, which is used to temporarily store transaction data (the Blob can be deleted after 18 days) and significantly improves Ethereum’s scalability, with the potential to reduce Layer2 transaction costs by 10-100 times.
Further reading: Ethereum Cancun Upgrade Core: How Does EIP4844’s Blob Reduce Costs by 100 Times?
The Dencun upgrade also includes several other proposals, such as EIP-1153, which introduces a “temporary storage” system to further reduce costs, and EIP-4788, which enhances transparency by storing the root of each beacon chain block in smart contracts.
Further reading: Dencun Cancun Upgrade Approaching: How Will the New EIP Proposals Change Ethereum?
Unshakable Dominance in Public Chains?
It is worth mentioning that after the recent incident of Solana’s downtime, @tytaninc, the founder of NFT Finance, spoke up for Ethereum on the X platform. He pointed out that Ethereum holds a commanding 57.8% market share in the DApp deposit market, with a total value locked (TVL) of $34.8 billion. Furthermore, when considering Layer2 solutions such as Polygon, Optimism, and Arbitrum, its market share rises to 67.4%. Despite an average transaction fee of $5.85, nearly 380,000 active addresses interacted with Ethereum DApps in the past week, demonstrating its leadership in the DApp field. He stated:
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TVL Market Share | Source: DeFiliama
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Ethereum Cancun Upgrade Progress – Sepolia and Holesky Testnets to Launch in Early February, Mainnet Possibly by the End of February
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