Dencun is designed to reduce the costs of the growing number of ethereum-based networks.
The long-awaited Dencun update finally appeared on the #Ethereum network at around 9:55 a. m. ET on Wednesday.
The essence of Dencun revolves around EIP 4844, often referred to as "proto-dunksharding," and aims to improve the scalability of the #blockchain by increasing the capacity of data "blocks. " The changes are also expected to reduce the costs associated with Layer 2 deployments.
According to Tim Bajko, head of the protocol support group at the Ethereum Foundation, Dencun contains nine Ethereum Improvement Proposals (EIPs), making it the largest #hard fork in terms of the number of improvements implemented.
Layer 2 solutions such as Arbitrum, Optimism, and Polygon have benefited the most from Dencun. These solutions contribute to the scalability of the Tier 1 blockchain by aggregating user transactions and passing them to Ethereum for mass settlement.
The Dencun update has already appeared on the Ethereum network, and with it a number of EIPs, including the popular EIP-4844!
Once Dencun is implemented, these Layer 2 solutions will have the ability to transfer data to Ethereum within a dedicated "blob space", eliminating the need to incur the additional cost of adapting data to standard transactions.
In theory, this improvement will allow Tier 2 solutions to process large amounts of data more efficiently, while lowering transaction fees for end users.
Dencun is the most complex fork since the merger, and rivals Byzantium in terms of the number of EIPs in the fork. More teams were involved in the process than ever before, and somehow everything went smoothly ......! We are grateful to be working with all of them on the next fork. "
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