Ethereum developers are preparing to deploy their upcoming Dencun upgrade on the Holesky testnet, moving closer to mainnet launch.
Dencun, short for Cancun-Deneb, is the upcoming upgrade to be implemented on the Ethereum blockchain network to increase scalability, reduce transaction gas costs, and improve data availability on Layer 2 (L2) blockchains.
This upgrade will kickstart the so-called proto-danksharding mechanism, which is an intermediate step on the path to Danksharding, which will make Ethereum a truly scalable network.
For the moment, Ethereum developers have set a date for the implementation of Dencun on the Holesky testnet. This will be the last testnet implementation of the upcoming update, before the expected launch on mainnet.
As reported by the developers, the update will arrive on the latest Ethereum test network on Next February 7If the implementation of Dencun on Holesky goes smoothly and without any issues, then the Ethereum developers will set a date for its deployment on the mainnet.
Dencun, the next big Ethereum update
Dencun represents Ethereum's next big step towards blockchain scalability.
Following the successful implementation of Shapella, this upcoming upgrade is set to make Ethereum a more robust and efficient blockchain, improving the network’s functionality and user experience.
The upgrade, which will be implemented at both the execution layer and the consensus layer of Ethereum, will improve the scalability of the network, optimize data management and handling, and significantly reduce gas costs, making Ethereum a more accessible network for everyone.
Dencun’s proto-danksharding mechanism, also known as EIP-4844, will also allow the network to increase space for data blobs, optimizing storage and reducing fees on the blockchain.
Dencun was deployed in the Goerli and Sepolia testnets this month, on January 17 and 30, respectively, scheduled for next week on the latest test network of the Ethereum ecosystem.
What is Proto-Danksharding?
Proto-danksharding is a scalability-focused mechanism, which offers a solution to the performance issues and high gas costs facing the Ethereum network.
As explained by the Ethereum Foundation, proto-danksharding will introduce data blobs to the network, which can be sent and attached to blocks on the chain, and which will be automatically deleted after a set time, which can be up to 3 months.
Through these blobs, L2 rollups can optimize data management and storage, sending it much more cheaply on the network; that is, without the need for it to be processed by all Ethereum nodes or stored on the blockchain forever. All of this will translate into better use of space on the chain, which will increase efficiency, scalability, and savings for end users. On the other hand, proto-danksharding will help Ethereum scale to its full potential. Target of 100.000 transactions per second.
The implementation of this scalability mechanism will significantly impact Ethereum's layer 2 networks and small transactions, which can be carried out at fairly affordable costs.
Continue reading: 2024 will be a key year for the expansion of L2s on Ethereum
