A note on the official ethereum GitHub repository indicates that the testing phase of the next ethereum update, called crypto-news-global/upcoming-ethereum-dencun-upgrade-set-for-testing-on-january-17-22-december-2023/” target=”_blank” rel=”noopener nofollow”>dencún, will begin on January 17.
The Goerli testnet will be the first to receive the update, with the Sepolia and Holesky testnets receiving it in the coming weeks. However, the ethereum team has not released the precise timing of the update's release on the mainnet.
The renovation was originally planned for the last quarter of 2023, but due to engineering difficulties, it was postponed to 2024.
ethereum Foundation head of protocol support Tim Beiko noted that the deadline is flexible and subject to modification should major issues arise.
To give interested parties a week's notice to prepare for the update, the team plans to publish a blog post describing the fork during the week of January 8, 2024.
Source: GitHub
What does Dencun mean?
Deneb and Cancun, the names of a star and a city they use for their consensus layer client updates and execution layer client updates, respectively, are the sources of the name ethereum/execution-specs/pull/860/commits/8a92d6d21f38d498922a1bb78d32e40a8f207653″ target=”_blank” rel=”noopener nofollow”>dencunan update to the ethereum network.
Technically speaking, it will be important for ethereum as it will introduce the well-known EIP-4844, commonly known as Proto Dank Sharding.
The latest update comes with a number of tools designed to reduce costs, provide additional functionality such as staking groups and bridges, and restrict the use of smart contract self-destruct features.
So if no major issues arise, we will look at the following schedule:
– Goerli: January 17 at 6:32:00 UTC
– Sepolia: January 30 at 22:51:12 UTC
– Holesky: February 7, 11:34:24 UTC…and then, mainnet pic.twitter.com/JFRt0ZHAi8
– timbeiko.eth (@TimBeiko) December 21, 2023
The option to abort
During the call, Beiko indicated that they have the ability to cancel if they encounter a serious or unforeseen problem. He also mentioned that the goal is to publish the fork blog post during the first week of January, giving users a minimum of a week to finish their reviews.
“Obviously, if we find a major problem or something crazy beforehand, we can always cancel,” he said. “This would mean that, ideally, we'll publish the blog post for the fork sometime during the week of January 8, so people have at least a week to update.”
ethereum currently trading at $2,288.52 territory. Chart: TradingView.com
Dencun: Technical Aspect
In more technical terms, ethereum Improvement Proposal (EIP) 4844, orcrypto-news-global/upcoming-ethereum-dencun-upgrade-set-for-testing-on-january-17-22-december-2023/” target=”_blank” rel=”noopener nofollow”> “proto-danksharding” It is one of the main elements of Dencun. With the help of a recently developed format known as “blobs,” this proposal allows layer 2 aggregative networks, such as Arbitrum, Base, Polygon zkEVM, and others, to temporarily store particular transaction data.
Blobs have an 18-day deletion period, in contrast to the current practice of permanently preserving data in the “CALLDATA” field of the blockchain. The creators of ethereum predict that proto-danksharding will significantly reduce layer 2 transaction fees.
The testing phase for ethereum upgrades typically lasts several months before the mainnet launch. The previous implementation, codenamed “Shapella”, began testing on February 7. On April 12, the mainnet launch took place.
At the time of writing, ethereum was trading at $2,287, They were down 1.3% and 1.7% in the last 24 hours and seven days, respectively, Coingecko data shows.
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