Ethereum’s Dencun upgrade is getting closer. Will Ethereum reach $3,000?
According to Ethereum Foundation Protocol Support Tim Beiko, Ethereum’s next upgrade, Dencun, will be released on January 18. Dencun will launch first on the Goerli Testnet, followed by the Sepolia testnet and Holesky on February 7 and 31 2024. The mainnet launch has been scheduled for February 20,24.
This new upgrade will it make things better or worse for ETH?
Dencun Scheduled for Q1/2024
Dencun was initially expected to launch in late 2023, but concerns about testnet deployment timelines and consensus issues prompted Ethereum’s core developers to delay its implementation. While the event is now slated for early 2024, the team hasn’t finalized the upgrade dates.
The upgrade will introduce proto-danksharding, or EIP-4844, to boost data storage and improve the efficiency and scalability of rollups using “blobs.” Blobs are essentially chunks of data, much larger than typical Ethereum transactions, that can be attached to blocks. They can store up to 125 kilobytes, as opposed to the usual transaction size of 250 bytes.
The process is expected to positively impact Ethereum’s…