Development efforts for the king of altcoins, Ethereum (ETH), are closely monitored due to the expectation that they can have a positive impact on the price. Initiatives that can solve the problem of transaction fees reaching their peak during network scaling and intense usage have critical importance for the price. At this point, it has been revealed that the eagerly awaited Cancun-Deneb (Dencun) update for the Ethereum network and its native asset Ether (ETH) will be delayed.
Delay in the Dencun Update
Chinese blockchain and cryptocurrency journalist Colin Wu reported that the Dencun update, which aims to improve the scalability, security, and usability of the network, will be delayed until the first quarter of 2024. The Proto-Danksharding is at the center of the important update Dencun, which aims to improve the scalability, security, and usability of the network, and this mechanism will reduce gas fees, in other words, transaction fees, and increase transaction speed.
Wu added that Ethereum developers mentioned that the launch of Devnet-12 will take three more weeks and that Devconnect conference is expected to take place in mid-November, so the launch of Devnet-12 is expected to take place in early December. This situation indicates that the tests on the Goerli network for the Dencun update may need to wait until the first quarter of next year.
What is the Highly Anticipated Dencun Update for Ethereum?
Also known as Ethereum Cancun-Deneb, Dencun is an important update to be implemented on the Ethereum blockchain. This update aims to improve the scalability, security, and usability of the network. A significant feature of Dencun is its introduction of Proto-Danksharding, a transitional phase towards full Danksharding that uses data blobs to significantly reduce gas fees and increase transaction efficiency.
The highly anticipated Dencun update, which has made significant progress in terms of implementation on the Ethereum network, is generally seen as an update that aims to improve the scalability, security, and usability of the network, and can have a positive impact on the price. Overall, Dencun promises to make the Ethereum network more efficient, secure, and user-friendly.
It was expected that the exact activation date of the update would be clarified after the Devconnect conference in November 2023, but the latest information provided by Wu indicates that the update will be delayed much longer than expected.
