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The developers of Ethereum, the largest smart contract network, have made the Dencun update available on the Goerli testnet, which includes proto-danksharding (EIP-4844). The eagerly awaited update is expected to be released on the mainnet by the end of the first quarter of the year.
Dencun Update Deployed on Goerli Testnet
Ethereum core developers have released the Dencun update on the Goerli testnet, which includes proto-danksharding (EIP-4844) and serves as a precursor to the mainnet launch. The Dencun update was forked on the Goerli testnet around 9:35 AM local time.
The main feature of the Dencun update on Goerli is the introduction of EIP-4844, known as temporary blobs or proto-danksharding. This approach allows Ethereum nodes to temporarily store and access off-chain data, reducing storage demands.
The update is particularly significant as it is expected to considerably reduce transaction fees for decentralized applications (dApps) on the Ethereum network and provide substantial benefits to Layer 2 rollup networks.
Update Expected to be Deployed on Mainnet by the End of the Quarter
The development team has adopted a two-stage approach in preparation for this transition. Accordingly, the Dencun update will first be applied on various testnets and then released on the mainnet.
In this direction, Ethereum developers deployed the update today on Goerli, the first major testnet. The next steps include deploying Dencun on another major testnet, Sepolia, on January 31st, and then on Holesky on February 7th. Following these steps, the ultimate goal is to release the update on the mainnet. Dencun is expected to be available on the mainnet by the end of the first quarter of 2024.
Ethereum’s native asset Ether (ETH) has so far remained unresponsive to the Dencun update’s deployment on Goerli. The altcoin king is trading at $2,551, up 1.14% in the last 24 hours as of the time this article was prepared.
