Ethereum Upgrade to Cut L2 TX Costs for Mainnet

Ethereum Upgrade to Cut L2 TX Costs for Mainnet

Ethereum’s Dencun upgrade featuring proto-danksharding completed testing on the Holesky testnet awaiting deployment on the mainnet.

Using the Holesky testnet, Dencun upgrade for Ethereum which introduced “proto-danksharding,” has successfully finished its final level of testing and is now waiting for a date for its deployment on the mainnet.

According to the data, the Dencun upgrade was forked on Holesky at approximately 11:35 a.m UTC on February 7, and shortly after that, Nethermind shared the news on Facebook.

It is commonly anticipated that the upgrade would result in a reduction in the costs of transactions on Ethereum Layer 2. Particularly noteworthy is the fact that Dencun will implement proto-danksharding with Improvement Proposal-4844.

“Blobs,” which will enable Ethereum nodes to temporarily store and retrieve enormous amounts of off-chain data, are the most important feature of EIP-4844. This feature will allow for the storage of data off-chain.

In an earlier interview, Philippe Schommers, who is the head of infrastructure at Gnosis indicated that the implementation of Dencun on the Ethereum mainnet has the potential to reduce rollup costs by as much as ten times.

On February 7, Ethereum bull Anthony Sassano stated that “all signs point to early-mid March,” suggesting that a date for the mainnet deployment of Dencun would be determined on February 8 during a call with AllCoreDevs.

Experts anticipate that the upcoming deployment of Dencun, which combines the Cancun and Deneb improvements, will be the most significant upgrade of Ethereum since the Shapella upgrade in April of last year.

The upgrade enabled unstaking of Ether (ETH) from the Beacon Chain for the first time since the release of the proof-of-stake chain on December 1, 2020. Dencun is expected to be the most significant upgrade to Ethereum as of yet.

At the execution layer, Cancun is concentrating on improving the scalability of the network. While the EIP-4844 interface serves as the focal point of the upgrade, it also includes the EIP-1153, EIP-4788, and EIP-6780 interfaces.

In the days leading up to Holesky, we put Dencun into operation on the testnets of Goerli and Sepolia on January 17 and January 30, respectively. A glitch prevented the testnet from completing the upgrade, causing a four-hour delay in the deployment of Dencun to Goerli.

This caused the delay. In an interview Nebojsa Urosevic, the inventor of the Ethereum development platform Tenderly, stated that the network was unable to sync with nodes due to a flaw in Prysm, which is proof-of-stake client. Urosevic continued by saying, “It is in fact one of the reasons why there are multiple clients and why testnets are in existence.”

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