- Ethereum’s Dencun upgrade was released to mainnet on March 13, 2024 at 13:55 UTC.
- The upgrade introduces the “blob,” which significantly reduces transaction fees for layer 2 protocols.
Ethereum core developers have activated the Dencun upgrade on mainnet, and the highly anticipated implementation will be released on epoch 269568 13:55 UTC.
Dencun was previously successfully deployed on the Holesky testnet in February.
Dencun upgrade has begun
The upgrade introduces a “blob” with EIP-4844 set, significantly reducing transaction fees for layer 2 protocols.
Ethereum and several L2 tokens surged early in the week as the Dencun upgrade approaches. Although the price has fallen slightly over the past 24 hours, the community is very optimistic about what this hard fork means for the wider Ethereum ecosystem.
The last time the community mood was this positive was during the previous two major upgrades (the Shanghai upgrade in April 2023 and the merge in September 2022).
Implementing the Shanghai Upgrade on the mainnet allows ETH holders to unstake their tokens for the first time since deposits were opened prior to the merge. The launch of Dencun delivers chunks of data to the mainnet through a set of proto-danksharding that will help improve data availability and reduce transaction fees for L2.
Users of Base, Arbitrum One, Optimism, zkSync, and Starknet, among other L2 platforms, will benefit from this reduction. arbitration team Posted At
Once the upgrade begins running, it is expected to take an hour or two for blob transactions to begin publishing and for new EIP-4844 price changes to start appearing.
ArbOS Atlas also introduces additional Arbitrum fee reductions for Arbitrum One. We expect this to be…
— Referee (💙, ) (@referee) March 13, 2024