Dencun is coming! According to its developers, the price of Ethereum will become a lot cheaper as a result.

A blog post published yesterday by the Ethereum Foundation confirmed that the next two steps of the long-awaited upgrade, namely the Sepolia and Holesky testnets, will be completed early next month.

This means the upgrade should go live on the mainnet in March.

“Assuming Sepolia and Holesky upgrades go smoothly, Dencun will be on the Ethereum mainnet next,” the post reads, adding that Sepolia will be upgraded on January 30, while Holesky will be completed on the testnet on February 7.

Developers promise that these incremental steps are among the final ones needed to make Ethereum faster and cheaper.

Ethereum, the blockchain behind ETH, the second-largest cryptocurrency by market value, is notoriously congested.

This makes it difficult and expensive for people who want to use it to build applications or send funds.

But those behind the technology say the latest upgrade will address the network’s scalability issues.

One of the features of the upgrade, dubbed “proto-danksharding” (or EIP-4844), means the network will be able to process over 100,000 transactions per second cheaply.

The developers say it will achieve this by making Ethereum Layer 2 solutions, such as Optimism, cheaper.

Layer 2 solutions on ethereum are where the bulk of ethereum activity takes place, according to an October report from market intelligence firm Messari. They run in parallel with the main network, so transactions essentially bypass ethereum’s blockchain at a fast clip.

Ethereum is constantly improving. Most notably, in 2022, the network is moving from proof-of-work to proof-of-stake, an upgrade widely known as a “merge.” #以太坊升级  #Dencun