- The Dencun update on Ethereum introduces “protodanksharding” to lower L2 transaction costs, going live on March 13, 2024.
- Node operators and stakers must upgrade their software before the Dencun release to maintain network compatibility.
Ready to make the leap to a more efficient and cost-effective Ethereum? Well, on March 13, 2024 at 13:55 UTC, we mark a milestone with the arrival of the Dencun update to the Ethereum mainnet.
What does this new feature bring? A promise of more agile, lower-cost transactions. Imagine, this not only benefits veterans in the subject, but also the newbie who wonders how to send his first ETH without it costing an arm and a leg.
Reducing Costs, Increasing Efficiency
First things first: the blobs. Sounds strange, doesn’t it? But these blobs, introduced by the famous EIP-4844 or “protodanksharding,” are our gateway to cheaper Layer 2 (L2) transactions .
According to ETHNews, this move is a direct response to the need to make Ethereum more accessible to use. Forget about high fees; we are entering an era where sending digital money will be as cheap as sending a text message.
Innovation is the order of the day
Dencun is not short on advancements. This package of improvements includes everything from transient storage opcodes to tweaks to the Ethereum Virtual Machine (EVM) to an overhaul of the SELFDESTRUCT process.
The goal? An Ethereum that not only runs faster and goes further but also has a lower environmental impact. Just as you read it, we’re talking about sustainable blockchain technology.
For those who have their investments either operating nodes or staking, the watchword is clear: upgrade the software. Choosing the right client is more crucial than ever, considering the balance of the network. But rest assured, there are options for everyone, and upgrade guides are at hand.
This new chapter in Ethereum’s history is not just a technical achievement; it is proof positive of the community’s commitment to continuous improvement. As ETHNews previously stated, we are moving closer and closer to the vision of a decentralized platform that welcomes unrestricted applications.
Dencun is not just another update; it is the beginning of a new era for Ethereum, where efficiency and transaction economics are brought to the forefront. So mark your calendar, get ready for the upgrade and be part of this exciting journey into the future of decentralized finance.
The current price of Ethereum (ETH) is $3423.7 USD, with a minimal change of -0.01% in the last 24 hours. Ethereum has shown remarkable performance with an increase of 14.41% in the last week and an impressive 48.58% in the last month.
Over the past six months, ETH has experienced 110.11% growth. From the beginning of the year to date, ETH is up 50.02%, and over the last year, it has recorded a 118.13% increase.
Ethereum’s market cap is currently approximately 411.31 billion USD, with a 24-hour trading volume of around 11.63 billion USD.
