The world of blockchain has witnessed a major event with the deployment of the Dencun update on the Ethereum network. This breakthrough, the most significant since Merge, promises to radically transform transaction fees and scalability, two aspects crucial to the future of blockchain.
The successful deployment of Dencun
On March 13th at 13:55 UTC, the Ethereum network reached a decisive milestone with the activation of the Dencun update. This successful deployment is the result of hard work and considerable anticipation within the Ethereum community.
Dencun’s main aim is to optimize transaction costs and improve scalability on the network. This update is particularly focused on improving the performance of Layer 2 networks, essential for fast, cost-effective transaction processing.
Experts share their vision
Arthur Breitman, co-founder of Tezos, points out that while Dencun is a step in the right direction, the update does not fully address the challenges of Layer 2 solutions. This critical perspective sheds important light on Dencun’s limitations and expectations.
The update incorporates nine Ethereum Improvement Proposals (EIPs), merging Cancun’s improvements on the execution layer with Deneb’s on the consensus layer. The introduction of data blobs via EIP-4844, also known as proto-danksharding, is one of the major changes, aimed at reducing costs and increasing data availability.
Impact on users and transaction costs
Despite the advances, fees on the Ethereum mainnet remain high, affecting users who prefer security and decentralization. The upgrade will probably encourage more users to turn to Layer 2 solutions, although the mainnet remains preferred for high-value transactions.
The activation of Dencun opens up new prospects for Ethereum, making the blockchain more accessible and powerful. While some challenges remain, there is optimism about the technological future and the growing adoption of Ethereum.
