- Enhanced Efficiency: Dencun upgrade aims to boost layer 2 rollup efficiency on the Goerli test network.
- Successful Fork: Goerli Shadow Fork sees a smooth transition with a remarkable 99% participation rate.
- Market Impact: Ethereum’s Dencun upgrade may attract more users and projects, reflected in the current 4.15% price surge of ETH.
As the blockchain landscape continues to evolve, Ethereum (ETH) developers are gearing up for a groundbreaking upgrade known as Dencun, set to launch in 2024. This significant milestone promises to introduce increased data storage capacity through the implementation of a cutting-edge process termed “proto-danksharding.”
In a recent biweekly call on December 21st, Ethereum developers unveiled their ambitious plans, setting the target date of January 17th for the Goerli test network to undergo the Dencun upgrade. This upgrade aims to enhance layer 2 rollup efficiency and expand blockchain scalability, ushering in a new era of technological advancement.
Last 2023 AllCoreDevs call about to kick off
Will recap here later today https://t.co/YDWpJbtOma
— timbeiko.eth ☀️ (@TimBeiko) December 21, 2023
Tim Beiko, the protocol support lead at the Ethereum Foundation, emphasized the importance of thorough testing and acknowledged the possibility of cancellation in the event of major issues before the set date. The decision to reschedule the Dencun upgrade from Q4 2023 to 2024 was attributed to the intricate engineering aspects involved in the development process. Developers outlined a tentative timeline for Dencun testing, intending to run through Sepolia on January 31st.
In the realm of Ethereum developments, the Goerli Shadow Fork marked a significant milestone, with a network configuration involving 300 nodes distributed across North America, Europe, India, and Australia. The successful completion of the fork resulted in a remarkable 99% participation rate, indicating widespread adoption of the changes introduced.
Post-Dencun, the network underwent a smooth transition, and teams initiated a network spamming exercise with blobs, aiming for an average of 4 per block. However, the network stabilized around 3 blobs per block as planned. The introduction of blobs led to an approximately 200 kbps increase in the network’s bandwidth usage, showcasing the platform’s adaptability to technological advancements.
Notably, 95% of blobs propagated in less than 2 seconds, with an average propagation time below 500 milliseconds. This efficiency demonstrates the robustness of the Ethereum network in handling increased data and transaction volumes.
The anticipated Dencun upgrade is expected to have a positive impact on the Ethereum community, instilling confidence and potentially attracting more users and projects to leverage the upgraded platform. At the time of reporting, ETH was trading at $2,315.75, reflecting a 4.15% growth in the last 24 hours. The overall interest in the network remained high, evident in the consistent gas usage and the growth of non-fungible token (NFT) trades occurring on the Ethereum network. Ethereum’s journey into the future of blockchain technology seems poised for continued success.
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