Ethereum, the second-largest blockchain, has activated its 'Dencun' upgrade to support growth on layer-2 networks like Arbitrum and Polygon by lowering their data fees.
One key aspect of the upgrade is the introduction of "proto-danksharding," which provides a dedicated space on the blockchain for storing data at a reduced cost compared to regular transactions.
The upgrade, which took place at Ethereum epoch 269,568, aims to address Ethereum's high transaction fees. Despite the upgrade, the price of ether (ETH), Ethereum's native cryptocurrency, remained relatively stable.
The upgrade has been seen as a significant moment for Ethereum, signaling a new phase in its development and potentially sparking competition among layer-2 networks to leverage the blockchain's scaling improvements.
During the upgrade, some networks, like Offchain Labs and Starknet, began using the new data storage feature, while others, like Blast, reported temporary issues but later resolved them. $ETH
