The Ethereum Core Team has finalized the upgrade date for Dencun! It is confirmed to be officially launched on March 13th at 9:55 PM Taiwan time in Slot 8626176.
Background:
Kankun Upgrade Progress: Sepolia and Holesky testnets launched Dencun in early February, mainnet expected by the end of February.
Since the Shapella upgrade in March last year, Ethereum’s next major upgrade, Dencun, went live on the Goerli testnet on January 17th, followed by successful launches on the Sepolia and Holesky testnets at the end of January and early February respectively. Yesterday (8th), the upgrade date for Dencun was finally confirmed, scheduled to be officially launched on March 13th at 8:55 AM Eastern Time in Slot 8626176.
Parithosh Jayanthi, DevOps engineer at the Ethereum Foundation, expressed his excitement about the upcoming upgrade on Telegram, stating:
“Dencun Upgrade: Enhancing scalability and reducing transaction fees”
Dencun is a combination of the words “Cancun” and “Deneb”. In this upgrade, the “Cancun” upgrade happens 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, known as “Deneb”. Together, they are referred to as “Dencun”.
The Dencun upgrade includes multiple updates, with the most anticipated core proposal being EIP-4844: Proto-Danksharding. This proposal introduces a new transaction type called Blob, which is used to temporarily store transaction data (Blob can be deleted after 18 days), significantly improving Ethereum’s scalability and potentially reducing Layer2 transaction costs by 10-100 times.
Additionally, as the Dencun upgrade helps reduce the cost of available data on Ethereum, it will make projects like Celestia, Avail, and EigenDA more attractive.
Further reading:
Why can Dencun upgrade reduce Ethereum 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:
How will the Dencun upgrade change Ethereum?
Ethereum price remains relatively stable despite the upcoming Dencun upgrade, with a 5.7% increase in the past 7 days. However, influenced by this news, modular blockchain Celestia’s token $TIA saw a 3.8% increase in the last 24 hours, and subsequent Layer2 projects such as Arb, Op, and ETH price are worth continued attention.
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