Ethereum developers are accelerating testing for Dencun, a highly anticipated network upgrade set for 2024. It will introduce data storage capabilities and scale the blockchain through a process called “proto-danksharding.”The new functionality promises to reduce fees for layer 2 rollups—solutions built on top of Ethereum to improve transaction speeds and costs—and expand data capacity on the blockchain by enabling the storage of large “blobs” of data.Also read: Binance Coin Christmas Price Prediction: How High Can BNB Go?Ethereum targeting testnets firstIn a recent biweekly call, Ethereum developers discussed targeting January 17th for a test run of Dencun on Goerli, one of the network’s test networks used to trial changes in a low-risk environment.“Obviously if we find a major issue or something crazy before then, we can always cancel,” said Tim Beiko, protocol support lead at the Ethereum Foundation. “This would mean, ideally, we’re putting out the blog post for the fork sometime during the week of January 8th, so people have at least a week to update.”While originally slated for late 2023, complex engineering hurdles led developers to push back Dencun’s main network deployment to 2024. Test network launches represent major milestones on the road to a mainnet release.#Ethereum.to.outperform.Bitcoin #EthereumRally #ETHPriceRise In addition to the January 17th Goerli test, developers mapped out an aggressive Dencun testing timeline, with subsequent test runs planned on two other test networks, Sepolia and Holesky.Also read: US Government Finalizes Forfeiture of 69,370 Silk Road BitcoinIf testing progresses smoothly, they envision rolling out Dencun on the Ethereum mainnet around late February 2024. However, issues uncovered during testing could delay this schedule.Dencun will be the first major upgrade following Shapella, which allowed the withdrawal of staked ether funds to secure the newly proof-of-stake Ethereum network.While the development timeline remains fluid, the active testing regime underscores developers’ commitments to releasing functional upgrades that securely advance Ethereum’s capabilities.

About Ethereum⭐The Ethereum price is $2,212.21, a change of -1.59% over the past 24 hours as of 4:31 p.m. The recent price action in #Ethereum left the tokens market capitalization at $265,907,256,314.80. So far this year, Ethereum has a change of 85.40%. Ethereum is classified as a Smart Contract Platform under CoinDesks Digital Asset Classification Standard (DACS).⭐Ethereum is a blockchain-based software platform that can be used for sending and receiving value globally with its native cryptocurrency, ether, without any third-party interference. But it can also do much more than that.⭐First proposed in 2013 by Russian-Canadian computer programmer Vitalik Buterin, Ethereum was designed to expand the utility of cryptocurrencies by allowing developers to create their own special applications. Unlike traditional apps, these Ethereum-based applications, called “decentralized applications,” or dapps, are self-executing thanks to the use of smart contracts.⭐Smart contracts are code-based programs that are stored on the Ethereum blockchain and automatically carry out certain functions when predetermined conditions are met. That can be anything from sending a transaction when a certain event takes place or loaning funds once collateral is deposited into a designated wallet. The smart contracts form the basis of all dapps built on Ethereum, as well as all other dapp#BONK #eth #EthereumRally #BinanceTournament $BTC $ETH