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Pleasure is brewing within the Ethereum community as the ultimate countdown to the Dencun improve begins. After efficiently activating on all testnets, the Dencun community replace is now prepared for deployment on the Ethereum mainnet and can activate on the community at epoch 269568, which is able to happen on March 13, 2024, at 1:55 p.m. UTC.
The improve, which follows final yr’s Shapella improve, options a number of modifications, essentially the most notable of which is the implementation of ephemeral information blobs with EIP-4844, higher often known as “protodanksharding,” which is able to assist reduce L2 transaction charges.
Tim Beiko, an Ethereum core developer, excitedly tweeted in regards to the countdown to X, saying, “Lower than 24 hours earlier than Dencun.”
The preliminary announcement relating to the Dencun mainnet improve was made on Feb. 27, and Beiko highlighted that a number of consumer groups have since made Dencun-compatible releases containing important efficiency and stability enhancements.
A March 12 replace of this preliminary weblog put up explains the consumer releases, itemizing each the minimal and beneficial variations.
The Minimal Model column signifies the bottom Dencun-compatible launch for a consumer, whereas the Beneficial Model incorporates efficiency and stability enhancements.
Forward of the massive launch on the ETH mainnet, Gnosis Chain has deployed a model of the Dencun improve on its community. Gnosis Chain, previously often known as xDai Chain, capabilities as a sidechain to Ethereum and is managed by GnosisDAO.
This milestone was hailed by the bigger Ethereum neighborhood in addition to Ethereum cofounder Joseph Lubin.
Expectations for Dencun improve
Based on IntoTheBlock’s recent analysis, main Ethereum layer 2 (L2) might expertise charge reductions of no less than 80% following the Dencun improve. This additionally contains OP stack chains, that are anticipated to obtain upgrades that embody information blob performance.
Based mostly on estimates, prices for depositing USDC on platforms reminiscent of Aave may fall as little as $0.0091, representing a 27-fold lower. The charge reductions for L2s might be significantly higher, doubtlessly 60 instances decrease than present ranges based mostly on PolyMarket estimations.
Whereas the probability of charge reductions stays, the precise magnitude of such reductions ensuing from the Dencun improve stays largely unknown.