Developers at the ethereum Foundation have set tentative dates for a major upgrade to scale cryptocurrencies' largest altcoin blockchain.
During a biweekly call, the developers revealed that January 17 is a possible date to test the Dencun update on the Goerli testnet. Dencun was delayed beyond the fourth quarter of 2023 due to technical difficulties creating its code.
The update, known as EIP-4844, aims to increase blockchain space for data blobs and reduce layer 2 rollup fees by enabling proto-danksharding. This expansion of data storage should scale the ethereum blockchain, allowing for greater transaction capacity without increasing gas fees.
Barring any disruption and assuming Dencun successfully tests Goerli, the developers plan update the Sepolia testnet by January 31st and the Holesky network by February 7th. These forks represent the largest test chains on ethereum.
The final goal for sending Dencun to the mainnet was set for the end of February; however, this schedule is subject to change depending on events. Dencun marks the first major tech update since the developers added withdrawal support for staked Ether (eth) via the Shapella update.
In related news, the EthereumPoW network has moved towards full autonomy by dissolving its core development team. This initiative was formed in 2022, shortly before the eth blockchain moved from a proof-of-work to proof-of-stake model.
Regarding eth market performance by 2024, JPMorgan analysts believe that the asset will regain market share from bitcoin (btc) and will likely outperform most large-cap native blockchain tokens. An approved spot eth ETF could also send billions of dollars to the leading defi chain.
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