The update includes an improvement to EIP-4844, which is designed to increase network throughput and reduce the cost of transaction fees.
What happened? On January 17, Ethereum blockchain developers deployed the Dencun update to the Goerli test network. The hard fork was not completed due to a potential network split and an error related to validator synchronization. Ethereum client teams are expected to make a fix after investigating the issue.
What else is known? The Dencun hard fork includes Ethereum Improvement Proposal (EIP) number 4844. EIP-4844 will introduce proto-dunksharding to the main network, which scales the blockchain by introducing a new type of transaction for large amounts of binary data (blobs).
Thus, transactions carry data objects attached to blocks, which increases the amount of information that blocks can process. This is expected to reduce transaction costs in decentralized applications (DApps) and increase network throughput.
Dencun will launch on the Sepolia and Holesky test networks on January 31 and February 7, respectively. The final release on the mainnet is expected by the end of Q1 2024.
In October 2023, the Centrifuge DeFi protocol team developed the EIP-7540 proposal to expand the functionality of cross-chain lending and liquid staking protocols, as well as real-world asset (RWA) projects.
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