Ethereum Dencun upgrade navigates testnet seamlessly, EIP-4844 could see mainnet release in March
- Ethereum developers tested the Dencun upgrade on Sepolia testnet without any hiccups.
- The next step to EIP-4844’s mainnet launch is the Holesky testnet release.
- Dencun’s smooth testnet releases could bring the next major upgrade to Ethereum in March 2024.
Ethereum network’s next major upgrade after its Merge is Dencun. The upgrade will implement several Ethereum Improvement Proposals, the most notable of which is EIP-4844. The improvement proposal, better known as protodanksharding, will reduce transaction costs for Layer 2 chains.
Also read: When is EIP-4844, and why is it considered the biggest game changer for Ethereum?
Ethereum Dencun upgrade successfully clears Sepolia testnet
The Dencun upgrade observed a successful implementation with no major issues, on the Sepolia testnet. Ethereum core developers Paritosh J and Tim Beiko shared the status update in recent tweets on X (formerly Twitter).
Blobs are now flowing in Sepolia :D
— parithosh | (@parithosh_j) January 30, 2024
Uneventful testnet forks are the best ones! https://t.co/HTTVwYcytm pic.twitter.com/Al45RZz95B
Everything looking smooth so far https://t.co/8kYhfFEIne
— timbeiko.eth ☀️ (@TimBeiko) January 30, 2024
Ethereum holders and crypto market participants consider this upgrade key to the ETH ecosystem since it will bring major changes to the network, for the first time since the shift of the consensus mechanism from Proof-of-Work to Proof-of-Stake in the Merge. The upgrade will introduce blobs, data units that are attached to Ethereum network’s existing blocks. These blobs reduce the specific storage required by Layer 2 chains, reduce the operation costs and transaction costs.
EIP-4844 is now closer to its mainnet release and the only step left in the process of its rollout on the Ethereum chain is the Holesky testnet. A successful completion of its release on Holesky will pave the way for EIP-4844 and Dencun’s arrival on Ethereum by March.
Christine Kim, Head of Research at Galaxy Digital has put the odds of Ethereum’s Dencun release on the mainnet at 70%.
fwiw, based on how smoothly sepolia went today, id say odds of a mainnet activation for dencun in march is now 70%, up from 60%.
— Christine Kim (@christine_dkim) January 30, 2024
odds only get stronger if holesky upgrade next wednesday also goes smoothly! https://t.co/c5gV6NLrmL
Author
Ekta Mourya
FXStreet
Ekta Mourya has extensive experience in fundamental and on-chain analysis, particularly focused on impact of macroeconomics and central bank policies on cryptocurrencies.
