Crypto Flexs
  • DIRECTORY
  • CRYPTO
    • ETHEREUM
    • BITCOIN
    • ALTCOIN
  • BLOCKCHAIN
  • EXCHANGE
  • ADOPTION
  • TRADING
  • HACKING
  • SLOT
Crypto Flexs
  • DIRECTORY
  • CRYPTO
    • ETHEREUM
    • BITCOIN
    • ALTCOIN
  • BLOCKCHAIN
  • EXCHANGE
  • ADOPTION
  • TRADING
  • HACKING
  • SLOT
Crypto Flexs
Home»ETHEREUM NEWS»The Dencun upgrade has begun, ushering in a new era for Ethereum.
ETHEREUM NEWS

The Dencun upgrade has begun, ushering in a new era for Ethereum.

By Crypto FlexsMarch 13, 20243 Mins Read
Facebook Twitter Pinterest LinkedIn Tumblr Email
The Dencun upgrade has begun, ushering in a new era for Ethereum.
Share
Facebook Twitter LinkedIn Pinterest Email

Ethereum’s much-anticipated Dencun upgrade launched without a hitch Wednesday morning, significantly lowering transaction costs across the Ethereum layer 2 network and opening a new chapter for the blockchain that will significantly expand the capabilities of the blockchain ecosystem.

The Dencun upgrade was successfully implemented just before 10:00 AM EST. It now takes about a month or two for settlement contracts across all Layer 2 networks to incorporate updates. Once that happens, gas fees on the layer 2 network should immediately drop by 75%, said Terence Tsao, an Ethereum layer 2 network developer. decisionBefore said decryption.

Ethereum Foundation YouTube live streaming screenshot

Ahead of the hard fork, Ethereum developers hosted a live stream on YouTube where they discussed various proposed Ethereum improvements coming with the launch of Dencun and explained new terminology such as blobs, a new way to configure and transfer. Data on the network.

As the upgrade progressed, ASCII art of blobs appeared on the screen.

Ethereum has undergone several spectacular upgrades in recent years, including one in 2022. absorptionTransformed the network to an energy-efficient proof-of-stake model, expected to be completed by 2023. shanghai upgrade, unlocking tens of billions of dollars worth of ETH staked on the network for withdrawal. But several developers helping build Ethereum believe Dencun is poised to transform the network on a level never seen before.

“We think this upgrade will have the biggest impact on users of all Ethereum upgrades to date,” said Marius Van Der Wijden, Ethereum core developer. decryption. “Dencun is a much bigger update than Shanghai.”

Dencun not only significantly reduces transaction costs in layer 2 networks; It will also redefine the capacity of the Ethereum ecosystem to process high volumes of transactions, significantly lowering the barriers to moving projects, transactions, and data on-chain.

David Silverman, Vice President of Products polygon labPrevious analogy to decryption Dencun will single-handedly scale Ethereum from rural back roads to four-lane highways in terms of the efficiency and ease with which the ecosystem will soon be able to handle unprecedented amounts of on-chain traffic.

After Dencun, gas costs will drop so much that crypto companies and projects will be able to afford them in the future, essentially making these costs a thing of the past, Silverman added.

This unprecedented shift in the Ethereum economy will come at a time when gas fees on the network’s mainnet have recently soared to the point of being nearly unusable. Dencun’s developers haven’t forgotten that fact.

“We are focused on scaling and reducing fees on L2 at a time when Ethereum usage is surging again and gas fees are becoming a noticeable cost for most users,” said Ethereum core developer Preston Van Loon. . decryption.

The key to Dencun’s nearly eliminating gas fees is proto-danksharding, a new method for Ethereum data storage introduced by Dencun. Proto-danksharding, leveraging a feature called “blobs,” allows layer 2 data to be temporarily stored on-chain for approximately a month. Until now, data could only be stored forever on Ethereum, an incredibly expensive option that significantly limited data uploaded to the chain.

Developers hope that Dencun will open a new chapter for Ethereum where there are no limitations related to cost, storage or anything else on the amount of data that can exist on the chain. Such a landscape could spark a revolution. project type Tools built across the Ethereum ecosystem.

“We hope Dencun will open up new use cases that were not possible before,” said Ethereum’s Van Der Wijden. “We are not building this for short-term unsustainable profits, we are building this for long-term sustainable growth.”

Stay up to date with cryptocurrency news and receive daily updates in your inbox.

Share. Facebook Twitter Pinterest LinkedIn Tumblr Email

Related Posts

Ether Leeum’s imminent brake out in major chart patterns

June 6, 2025

Bitcoin dives for less than $ 102K in fading momentum and macroscopic uncertainty.

June 6, 2025

Enterprise Ethereum Alliance accelerates strategic vision with new leadership and board promises -Enterprise Ethereum Alliance

June 5, 2025
Add A Comment

Comments are closed.

Recent Posts

Binance Alpha Listing Drive Skating Token Price 33%

June 7, 2025

Data Center security improvement: Role and risk of base board management controller

June 7, 2025

Is the Solana -SOL route that is involved in whale movements still alive for $ 160?

June 7, 2025

Gala Games unveils a new byte pack in VEXI village.

June 7, 2025

XRP price prediction by reducing the volume of RLUSD (RIPPLE USD)

June 7, 2025

ARCA is disappointed with the IPO allocation and dumps the circle sharing.

June 7, 2025

Eigenlayer starts the redistribution function in testnets

June 6, 2025

Musk & Trump SPAT sends trenches from DOGE Price Crumbling, Tesla.

June 6, 2025

Musk & Trump SPAT sends trenches from DOGE Price Crumbling, Tesla.

June 6, 2025

Vortex uses NVIDIA Jetson to innovate medical imaging with CT-similar ultrasound.

June 6, 2025

2025 Best Free Cloud Mining

June 6, 2025

Crypto Flexs is a Professional Cryptocurrency News Platform. Here we will provide you only interesting content, which you will like very much. We’re dedicated to providing you the best of Cryptocurrency. We hope you enjoy our Cryptocurrency News as much as we enjoy offering them to you.

Contact Us : Partner(@)Cryptoflexs.com

Top Insights

Binance Alpha Listing Drive Skating Token Price 33%

June 7, 2025

Data Center security improvement: Role and risk of base board management controller

June 7, 2025

Is the Solana -SOL route that is involved in whale movements still alive for $ 160?

June 7, 2025
Most Popular

Cryptocurrency exchanges Binance and Kucoin secure registration with India’s FIU

May 11, 2024

Ripple Claims $11 Million in FTX Bankruptcy Case, Strengthens Legal Position

December 26, 2023

Solanasa cancels phone order due to ‘inventory management’ issue

December 23, 2023
  • Home
  • About Us
  • Contact Us
  • Disclaimer
  • Privacy Policy
  • Terms and Conditions
© 2025 Crypto Flexs

Type above and press Enter to search. Press Esc to cancel.