Ethereum’s Dencun upgrade goes live on Sepolia testnet
Quick Take The upgrade, when deployed on the mainnet in the future, is expected to significantly lower fees and increase scalability.
Dencun deployment on Sepolia commenced at 22:51 UTC Tuesday and was finalized soon after. “Blobs are now flowing in Sepolia,” Parithosh Jayanthi, DevOps engineer at the Ethereum Foundation, wrote in a post on X. “Uneventful testnet forks are the best ones!”
Ethereum core developers deployed the upgrade on the Goerli testnet earlier this month. The upgrade’s initiation on the third and final testnet Holesky is scheduled for Feb. 7. Following a third successful testnet deployment, the Ethereum team is expected to establish a mainnet launch date for Dencun.
One anticipated feature Dencun is set to bring is proto-danksharding , which aims to lower gas fees and improve scalability by introducing a new, compressed data storage mechanism called “blobs.”
“A blob-carrying transaction is like a regular transaction, except it also carries an extra piece of data called a blob,” Ethereum co-founder Vitalik Buterin wrote in a community explainer . “Blobs are extremely large (~125 kB), and can be much cheaper than similar amounts of calldata.”
Ethereum’s last major upgrade, Shapella , took place in March 2023, which enabled users and validators to withdraw their staked ETH on the network.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
AI "New Cloud" rebounds sharply after overselling, quickly cooling down! CoreWeave briefly switched from gains to losses, IREN's gains slashed by half
On Thursday, US stocks in the AI sector experienced a sharp sell-off, with CoreWeave, Nebius, and IREN dropping by approximately 10%, 15%, and 17% respectively. After Thursday's close, IREN's earnings report exceeded expectations with significant revenue growth from its AI Cloud business. Combined with a broad rebound in tech stocks on Friday, US pre-market saw CoreWeave up 9.3%, IREN up 24.6%, and Nebius up 13.7%. However, during the US market midday session, American media reported that Microsoft will not renew part of its computing power lease with Oracle, once again dampening the slightly improved market sentiment and narrowing gains in the Neocloud sector.
1998 VS 2000, Goldman Sachs executive: AI sell-off resembles LTCM crisis rather than the internet bubble, but key questions remain unanswered
Goldman Sachs Delta One Trading Head Privorotsky is more inclined to compare the recent sharp decline to the 1998 LTCM crisis, which was a liquidity shock. At that time, the fundamentals of US economic growth remained sound, and once liquidity was restored and the Fed cut rates, the market quickly recovered its losses. However, the current market does not have the support of Fed rate cuts. Privorotsky also pointed out that the real issue for AI now is whether revenues can ultimately match the capital invested, a question that remains unanswered.
Zcash ETF leads $16.8 million altcoin fund outflows, Hedera bucks trend
Ethereum falls 8% to $2,200 as ETF outflows hit $99.9 million
Crypto prices
More
