Ethereum Dencun: Update is deployed to the Holesky testnet

The Dencun upgrade of the Ethereum (ETH) blockchain has been implemented by the network’s developers on Holesky. This is the last move of the Ethereum testnet prior to the deployment that is scheduled for the mainnet in March.

Ethereum execution client Nethermind shared on its official X account that the Ethereum Dencun upgrade was forked on the Holesky testnet at around 6:35 am ET and finalized a while later.

Confirming the rollout of the update, Nethermind wrote: “Holesky blobs Dencun is live on the Holesky testnet! Nethermind nodes are green. Mainnet, you’re next.”

Holesky 🤝 blobs
Dencun is live on the Holesky testnet! Nethermind nodes are green 🟢

Mainnet, you’re next 🔜 pic.twitter.com/ZoQqxX4jnb

— Nethermind (@NethermindEth) February 7, 2024

At the time of publication, the price of Ethereum was quoted at US$2,356.68, up 1.8% in the last 24 hours. During this period, the cryptocurrency recorded a trading volume of US$10,017,139,330. The price of Ehereum has shown growth in recent days. The second largest cryptocurrency has appreciated by 2.9% in the last seven days.

Dencun Ethereum Update

The imminent arrival of the Dencun update on Ethereum, an innovation that promises to revolutionize the ecosystem with significantly reduced gas fees and faster transactions.

The Dencun update, which made its debut on the Goerli testnet on January 17, brings a series of technically advanced improvements. Among them, the implementation of proto-danksharding, a facet of EIP-4844, which aims to drastically reduce layer 2 (L2) transaction fees, potentially between 80% and 90%, stands out.

In addition to proto-danksharding, Dencun encompasses significant changes to Ethereum’s consensus and execution layers, including nine distinct Ethereum Improvement Proposals (EIPs). These improvements include transient storage (EIP-1153), Beacon block root integration into EVM (EIP-4788), and Shard Blob transactions (EIP-4844), all of which are essential in pushing Ethereum towards a more efficient structure. and economical.

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