A new age of reduced fees for the expanding number of layer-2 networks that run on top of Ethereum is intended to be brought in by the update.
Ethereum programmers are getting ready for Wednesday’s Dencun update, which is going to be the most significant code modification to the blockchain in more than a year.
Dencun, a combination of the project names Deneb and Cancun, is a two-pronged update to Ethereum that occurs on the consensus and execution levels at the same time.
This is going to start at roughly 13:55 UTC (9:55 a.m. ET), which is the technical name for a “hard fork” in blockchain language. The goal of the update is to make layer-2 (L2) “rollups,” an expanding set of auxiliary networks that run on top of Ethereum, less expensive. The activation of a new Ethereum Improvement Proposal (EIP) termed “proto-danksharding,” or EIP-4844, will bring about these modifications. The purpose of the EIP is to enhance the chain’s capacity to process data from L2 networks.
The Dencun improvement has been in the works for a while, but engineers had to push back the initial goal date of late 2023 because of technical issues. Developers have since tested the package on three different testnets, with the majority of tests passing without any problems.
As a way for Ethereum enthusiasts to celebrate Dencun’s formal debut, two prominent teams—Nethermind, a top Ethereum infrastructure company, and the EthStaker development community—are staging livestreams.
“We are ensuring that all of our bootnodes and clients are completely up-to-date and prepared for conflict,” said Ethereum Foundation DevOps engineer Barnabas Busa. “We have increased the size of our monitoring infrastructure to make sure that nothing essential goes unnoticed.”
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