Dencun
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Ethereum Dencun: Breakthrough in Financial Digitalization
The upcoming upgrade of the Ethereum network, known as Dencun, represents a significant shift towards a more efficient and innovative blockchain environment. The anticipated improvement, scheduled for March 13th, aims to reduce operational costs, which will have a particularly positive impact on second-layer networks. Such progress has the potential to open up space for new innovations, which could significantly influence decentralized finance sectors, online gaming, and other applications.
Significance of the Dencun Upgrade for Second-Layer Networks
By combining the "Deneb" and "Cancun" upgrades into one, the Dencun upgrade introduces a new method for storing data on the Ethereum network. Second-layer networks, such as Arbitrum, Polygon, and Base (Coinbase Global Inc.), have previously utilized Ethereum for data storage. This secure yet financially intensive approach results in high costs for unlimited data storage across all Ethereum nodes. The new "blobs" concept aims to significantly reduce these costs, leading to a decrease in transaction fees.
Roberto Bayardo from Coinbase notes that unlike past upgrades, such as the "Merge" in September 2022, which reduced Ethereum's energy consumption but didn't bring direct benefits to users, the Dencun upgrade will have a direct positive impact on customer experience.
Expansion of the Ethereum Ecosystem
Cost reduction resulting from the upgrade will enable further development of the Ethereum ecosystem. Ed Felten, a former professor and co-founder of Offchain Labs, points out new possibilities in the realm of AI-driven games and DeFi applications, which were previously constrained by high costs. The upgrade may also support the creation and spread of new second-layer networks, thereby lowering barriers to entry for new projects.
Jim McDonald from Attestant predicts a "huge explosion of second-layer chains" in the near future, which could lead to cheaper and more innovative products, such as purpose-built chains.
Implementation and Outlook
Although rapid adoption of blob by many second-layer networks is expected, some, like Arbitrum, will require time for governance processes and voting. Despite these immediate benefits, it should be noted that with increasing demand for storage, blob costs may rise again. Nevertheless, the period of low costs is expected to provide an important window for innovation and growth.
Karl Floersch from Optimism reminds us that while initial fee reductions will spur development and adoption, preparation for a potential return of higher costs is necessary. However, the Dencun upgrade is considered a significant milestone in Ethereum's evolution, bringing about an expanded and more accessible blockchain ecosystem.
$ETH
#ETH #Dencun
Notice:
,,The information and views presented in this article are intended solely for educational purposes and should not be taken as investment advice in any situation. The content of these pages should not be regarded as financial, investment, or any other form of advice. We caution that investing in cryptocurrencies can be risky and may lead to financial losses.“
Significance of the Dencun Upgrade for Second-Layer Networks
By combining the "Deneb" and "Cancun" upgrades into one, the Dencun upgrade introduces a new method for storing data on the Ethereum network. Second-layer networks, such as Arbitrum, Polygon, and Base (Coinbase Global Inc.), have previously utilized Ethereum for data storage. This secure yet financially intensive approach results in high costs for unlimited data storage across all Ethereum nodes. The new "blobs" concept aims to significantly reduce these costs, leading to a decrease in transaction fees.
Roberto Bayardo from Coinbase notes that unlike past upgrades, such as the "Merge" in September 2022, which reduced Ethereum's energy consumption but didn't bring direct benefits to users, the Dencun upgrade will have a direct positive impact on customer experience.
Expansion of the Ethereum Ecosystem
Cost reduction resulting from the upgrade will enable further development of the Ethereum ecosystem. Ed Felten, a former professor and co-founder of Offchain Labs, points out new possibilities in the realm of AI-driven games and DeFi applications, which were previously constrained by high costs. The upgrade may also support the creation and spread of new second-layer networks, thereby lowering barriers to entry for new projects.
Jim McDonald from Attestant predicts a "huge explosion of second-layer chains" in the near future, which could lead to cheaper and more innovative products, such as purpose-built chains.
Implementation and Outlook
Although rapid adoption of blob by many second-layer networks is expected, some, like Arbitrum, will require time for governance processes and voting. Despite these immediate benefits, it should be noted that with increasing demand for storage, blob costs may rise again. Nevertheless, the period of low costs is expected to provide an important window for innovation and growth.
Karl Floersch from Optimism reminds us that while initial fee reductions will spur development and adoption, preparation for a potential return of higher costs is necessary. However, the Dencun upgrade is considered a significant milestone in Ethereum's evolution, bringing about an expanded and more accessible blockchain ecosystem.
$ETH
#ETH #Dencun
Notice:
,,The information and views presented in this article are intended solely for educational purposes and should not be taken as investment advice in any situation. The content of these pages should not be regarded as financial, investment, or any other form of advice. We caution that investing in cryptocurrencies can be risky and may lead to financial losses.“
Ethereum's Ascent: Navigating the $3,000 Resistance and Beyond
Reading time 5 min⌛
#ETH #Ethereum2024 #Dencun
In the dynamic realm of cryptocurrency, Ethereum stands out not just as a digital currency but as a platform that continues to push the boundaries of blockchain technology and decentralized applications. As "The Crypto Sage," we delve into the recent developments surrounding Ethereum, particularly its challenge against the $3,000 resistance level, the anticipated Dencun upgrade, the potential approval of Ethereum ETFs, and our price prediction for February 2024. This article aims to provide a comprehensive understanding of Ethereum's current market position and future potential.
Ethereum's Battle with the $3,000 Resistance
Ethereum's recent price action has captivated the crypto community, as it tests the significant $3,000 resistance level. This pivotal moment is not just a test of strength but also a testament to the enduring optimism surrounding Ethereum's long-term value proposition. While the bullish momentum indicates a strong push towards breaking this resistance, it's important to acknowledge the potential for a correction. Market dynamics suggest that a pullback to the $2,700 level could occur before Ethereum gathers the strength to ascend further. However, this potential correction is seen not as a setback but as a natural part of its upward trajectory.
The Dencun Upgrade: A Catalyst for Growth
The upcoming Dencun upgrade is poised to be a game-changer for Ethereum. Aimed at increasing data availability for Layer-2 rollups, this upgrade is critical for Ethereum's evolution into a scalable and efficient settlement layer. By enhancing the network's capacity to facilitate faster and more cost-effective transactions, the Dencun upgrade is expected to significantly boost Ethereum's utility and, consequently, its price. This development reflects Ethereum's commitment to innovation and its responsive approach to the growing demands of the crypto ecosystem.
The Potential Approval of Ethereum ETFs
The crypto community is abuzz with anticipation for the potential approval of Ethereum Exchange-Traded Funds (ETFs). Following the SEC's recent approval of 11 spot Bitcoin ETFs, the stage seems set for Ethereum to receive similar regulatory acceptance. Analysts estimate a 70% chance of spot Ether ETFs being approved by May 2024, a development that could markedly increase Ethereum's attractiveness to both institutional and retail investors. The approval of Ethereum ETFs would not only validate its status as a leading digital asset but also facilitate mainstream adoption and investment in Ethereum.
Ethereum Price Prediction for February 2024
Considering Ethereum's bullish momentum, the strategic technological upgrades, and the potential regulatory milestones, we forecast a promising future for Ethereum's price. In a bullish scenario, should Ethereum successfully breach the $3,000 $ETH resistance and sustain its upward momentum, we predict the price could potentially soar to or beyond $3,200 $ETH by February 2024. Conversely, in the face of a correction and market volatility, Ethereum may momentarily dip to the $2,600-$2,700 $ETH range before regaining its upward trajectory.
Conclusion: A Future Filled with Potential
Ethereum's journey is emblematic of the broader crypto market's evolution – filled with volatility, but fundamentally driven by innovation and the pursuit of decentralization. The Dencun upgrade and the potential approval of Ethereum ETFs are pivotal developments that could significantly influence Ethereum's market dynamics and adoption rates. As we look towards February 2024, the optimism for Ethereum reaching new heights remains undimmed, underscored by its strong fundamentals and the continuous growth of the blockchain ecosystem.
As always, we remind our readers that the crypto market is unpredictable and subject to rapid changes. While our analysis and predictions are based on thorough research and market insights, we encourage every investor to conduct their own research and consider multiple viewpoints before making any investment decisions.
Stay tuned to "The Crypto Sage" for more insights, analysis, and updates on your favorite cryptocurrencies. Together, let's navigate the ever-evolving world of blockchain and digital assets.
Disclaimer
This article is provided for informational and educational purposes only and should not be construed as financial advice, investment recommendation, or an endorsement of any particular strategy or investment. The views expressed in this article are those of the author(s) and do not necessarily reflect the official policy or position of Binance Square or any other organization.
Cryptocurrency investments are subject to high market risk and price volatility. The value of your investment can go down as well as up, and you may not get back the amount invested. Past performance is not indicative of future results. Leveraged and futures trading in cryptocurrency carries a significant level of risk and is not suitable for all investors.
Before making any financial decisions, do your own research (DYOR) and consider seeking advice from an independent financial advisor if you have any doubts. The author(s) or Binance Square do not bear any responsibility for any losses or damages resulting from decisions made based on the information provided in this article.
References:
Malwa, S. (2024, January 11). Ether ETF Hopes Drive Smart Money Bets After Historic Bitcoin ETF Approval. CoinDesk. Retrieved from Coindesk.(2024, January 11). Ethereum Spot ETFs Could Be Next, According to Bloomberg Analyst. Yahoo Finance. Retrieved from Finance.yahoo.(2024, January 10). Spot Ethereum ETFs now have a straight shot for approval — Analysts. Cointelegraph. Retrieved from Cointelegraph.(2023, December 4). Ethereum’s Dencun Upgrade Will Increase Data Availability for Layer-2 Rollups: Goldman Sachs. CoinDesk. Retrieved from Coindesk.Malwa, S. (2024, January 11). Ether (ETH) Price to Rally 70% to $4K if Pre-ETF Price Action Mirrors Bitcoin (BTC). CoinDesk. Retrieved from Coindesk.
#Write2Earn #TrendingTopic
#ETH #Ethereum2024 #Dencun
In the dynamic realm of cryptocurrency, Ethereum stands out not just as a digital currency but as a platform that continues to push the boundaries of blockchain technology and decentralized applications. As "The Crypto Sage," we delve into the recent developments surrounding Ethereum, particularly its challenge against the $3,000 resistance level, the anticipated Dencun upgrade, the potential approval of Ethereum ETFs, and our price prediction for February 2024. This article aims to provide a comprehensive understanding of Ethereum's current market position and future potential.
Ethereum's Battle with the $3,000 Resistance
Ethereum's recent price action has captivated the crypto community, as it tests the significant $3,000 resistance level. This pivotal moment is not just a test of strength but also a testament to the enduring optimism surrounding Ethereum's long-term value proposition. While the bullish momentum indicates a strong push towards breaking this resistance, it's important to acknowledge the potential for a correction. Market dynamics suggest that a pullback to the $2,700 level could occur before Ethereum gathers the strength to ascend further. However, this potential correction is seen not as a setback but as a natural part of its upward trajectory.
The Dencun Upgrade: A Catalyst for Growth
The upcoming Dencun upgrade is poised to be a game-changer for Ethereum. Aimed at increasing data availability for Layer-2 rollups, this upgrade is critical for Ethereum's evolution into a scalable and efficient settlement layer. By enhancing the network's capacity to facilitate faster and more cost-effective transactions, the Dencun upgrade is expected to significantly boost Ethereum's utility and, consequently, its price. This development reflects Ethereum's commitment to innovation and its responsive approach to the growing demands of the crypto ecosystem.
The Potential Approval of Ethereum ETFs
The crypto community is abuzz with anticipation for the potential approval of Ethereum Exchange-Traded Funds (ETFs). Following the SEC's recent approval of 11 spot Bitcoin ETFs, the stage seems set for Ethereum to receive similar regulatory acceptance. Analysts estimate a 70% chance of spot Ether ETFs being approved by May 2024, a development that could markedly increase Ethereum's attractiveness to both institutional and retail investors. The approval of Ethereum ETFs would not only validate its status as a leading digital asset but also facilitate mainstream adoption and investment in Ethereum.
Ethereum Price Prediction for February 2024
Considering Ethereum's bullish momentum, the strategic technological upgrades, and the potential regulatory milestones, we forecast a promising future for Ethereum's price. In a bullish scenario, should Ethereum successfully breach the $3,000 $ETH resistance and sustain its upward momentum, we predict the price could potentially soar to or beyond $3,200 $ETH by February 2024. Conversely, in the face of a correction and market volatility, Ethereum may momentarily dip to the $2,600-$2,700 $ETH range before regaining its upward trajectory.
Conclusion: A Future Filled with Potential
Ethereum's journey is emblematic of the broader crypto market's evolution – filled with volatility, but fundamentally driven by innovation and the pursuit of decentralization. The Dencun upgrade and the potential approval of Ethereum ETFs are pivotal developments that could significantly influence Ethereum's market dynamics and adoption rates. As we look towards February 2024, the optimism for Ethereum reaching new heights remains undimmed, underscored by its strong fundamentals and the continuous growth of the blockchain ecosystem.
As always, we remind our readers that the crypto market is unpredictable and subject to rapid changes. While our analysis and predictions are based on thorough research and market insights, we encourage every investor to conduct their own research and consider multiple viewpoints before making any investment decisions.
Stay tuned to "The Crypto Sage" for more insights, analysis, and updates on your favorite cryptocurrencies. Together, let's navigate the ever-evolving world of blockchain and digital assets.
Disclaimer
This article is provided for informational and educational purposes only and should not be construed as financial advice, investment recommendation, or an endorsement of any particular strategy or investment. The views expressed in this article are those of the author(s) and do not necessarily reflect the official policy or position of Binance Square or any other organization.
Cryptocurrency investments are subject to high market risk and price volatility. The value of your investment can go down as well as up, and you may not get back the amount invested. Past performance is not indicative of future results. Leveraged and futures trading in cryptocurrency carries a significant level of risk and is not suitable for all investors.
Before making any financial decisions, do your own research (DYOR) and consider seeking advice from an independent financial advisor if you have any doubts. The author(s) or Binance Square do not bear any responsibility for any losses or damages resulting from decisions made based on the information provided in this article.
References:
Malwa, S. (2024, January 11). Ether ETF Hopes Drive Smart Money Bets After Historic Bitcoin ETF Approval. CoinDesk. Retrieved from Coindesk.(2024, January 11). Ethereum Spot ETFs Could Be Next, According to Bloomberg Analyst. Yahoo Finance. Retrieved from Finance.yahoo.(2024, January 10). Spot Ethereum ETFs now have a straight shot for approval — Analysts. Cointelegraph. Retrieved from Cointelegraph.(2023, December 4). Ethereum’s Dencun Upgrade Will Increase Data Availability for Layer-2 Rollups: Goldman Sachs. CoinDesk. Retrieved from Coindesk.Malwa, S. (2024, January 11). Ether (ETH) Price to Rally 70% to $4K if Pre-ETF Price Action Mirrors Bitcoin (BTC). CoinDesk. Retrieved from Coindesk.
#Write2Earn #TrendingTopic
Ethereum's Dencun Upgrade: A Leap Towards Scalability and Affordability
⏳Reading time - 6 min⏳
#Ethereum #ETH #Dencun
On March 13, 2024, the Ethereum network is set to embark on one of its most transformative journeys yet—the Dencun upgrade. This pivotal update, fusing the innovations of the Cancun and Deneb upgrades, introduces proto-danksharding and "data blobs," heralding a new era of efficiency and scalability for Ethereum and its Layer 2 solutions.
Unlocking New Potentials with Proto-Danksharding and Data Blobs
At the heart of the Dencun upgrade is proto-danksharding, encapsulated by EIP-4844. This groundbreaking feature is set to dramatically expand Ethereum's capacity by incorporating blob-carrying transactions, which significantly increase block space for short-term data storage. The introduction of "blobs" is anticipated to slash transaction costs for Layer 2 networks like Arbitrum and Optimism, potentially reducing fees by up to 90% and accelerating Ethereum's adoption across decentralized finance (DeFi) and non-fungible tokens (NFTs).
Navigating the Challenges and Embracing Innovation
Despite facing hurdles such as governance and security concerns, the Dencun upgrade's potential to streamline transactions and foster a more accessible blockchain environment is undeniable. The introduction of EVM opcodes BLOBSTORE and BLOBLOAD, along with regular pruning of blobs to minimize storage demands, showcases Ethereum's commitment to innovation while maintaining network integrity.
A Catalyst for Growth and Adoption
The Dencun upgrade is poised to significantly impact the Ethereum ecosystem by improving scalability, reducing transaction costs, and making Ethereum a more attractive platform for developers and investors. With the backing of major financial institutions like Goldman Sachs, the upgrade's potential to increase data availability for Layer 2 rollups is crucial for Ethereum's scalability and efficiency.
Ethereum Price Prediction Post-Dencun Upgrade
Reflecting on Ethereum's current market performance and the anticipated impact of the Dencun upgrade, a positive trajectory for ETH's price $ETH is expected. In the short term (1 to 3 months post-upgrade), ETH prices could see a range between $3600 and $4000 $ETH , buoyed by the upgrade's immediate benefits and optimistic market sentiment. Looking ahead to the medium term (3 to 6 months post-upgrade), ETH could potentially reach between $4200 and $4600, $ETH reflecting broader adoption and confidence in Ethereum's enhanced scalability solutions.
Conclusion: Ethereum's Bold Stride Forward
The Dencun upgrade represents a significant milestone in Ethereum's ongoing quest for a more scalable, secure, and efficient blockchain ecosystem. By addressing long-standing challenges and setting the stage for future innovations, Ethereum continues to solidify its position as a leader in the blockchain space.
Disclaimer
This article is intended for informational and educational purposes only and should not be considered financial advice. The cryptocurrency market is highly volatile, and readers are encouraged to conduct their own research and consult with financial advisors before making any investment decisions.
References
Hazan, I. (2024, February 27). Ethereum’s Dencun Upgrade: Technical Overview and Potential Market Impact. Decrypt.ThirdWeb. (n.d.). What is the Dencun Upgrade? Ethereum Upgrade Explained. Blog.thirdweb.Ethereum Foundation Blog. (2024, February 27). Dencun Mainnet Announcement. Blog.ethereum.DataWallet. (n.d.). Ethereum Cancun Upgrade Explained: EIP List & Release Date. Datawallet.ConsenSys. (n.d.). Ethereum Evolved: Dencun Upgrade Part 5, EIP-4844. Consensys.
#TrendingTopic #Write2Earn
#Ethereum #ETH #Dencun
On March 13, 2024, the Ethereum network is set to embark on one of its most transformative journeys yet—the Dencun upgrade. This pivotal update, fusing the innovations of the Cancun and Deneb upgrades, introduces proto-danksharding and "data blobs," heralding a new era of efficiency and scalability for Ethereum and its Layer 2 solutions.
Unlocking New Potentials with Proto-Danksharding and Data Blobs
At the heart of the Dencun upgrade is proto-danksharding, encapsulated by EIP-4844. This groundbreaking feature is set to dramatically expand Ethereum's capacity by incorporating blob-carrying transactions, which significantly increase block space for short-term data storage. The introduction of "blobs" is anticipated to slash transaction costs for Layer 2 networks like Arbitrum and Optimism, potentially reducing fees by up to 90% and accelerating Ethereum's adoption across decentralized finance (DeFi) and non-fungible tokens (NFTs).
Navigating the Challenges and Embracing Innovation
Despite facing hurdles such as governance and security concerns, the Dencun upgrade's potential to streamline transactions and foster a more accessible blockchain environment is undeniable. The introduction of EVM opcodes BLOBSTORE and BLOBLOAD, along with regular pruning of blobs to minimize storage demands, showcases Ethereum's commitment to innovation while maintaining network integrity.
A Catalyst for Growth and Adoption
The Dencun upgrade is poised to significantly impact the Ethereum ecosystem by improving scalability, reducing transaction costs, and making Ethereum a more attractive platform for developers and investors. With the backing of major financial institutions like Goldman Sachs, the upgrade's potential to increase data availability for Layer 2 rollups is crucial for Ethereum's scalability and efficiency.
Ethereum Price Prediction Post-Dencun Upgrade
Reflecting on Ethereum's current market performance and the anticipated impact of the Dencun upgrade, a positive trajectory for ETH's price $ETH is expected. In the short term (1 to 3 months post-upgrade), ETH prices could see a range between $3600 and $4000 $ETH , buoyed by the upgrade's immediate benefits and optimistic market sentiment. Looking ahead to the medium term (3 to 6 months post-upgrade), ETH could potentially reach between $4200 and $4600, $ETH reflecting broader adoption and confidence in Ethereum's enhanced scalability solutions.
Conclusion: Ethereum's Bold Stride Forward
The Dencun upgrade represents a significant milestone in Ethereum's ongoing quest for a more scalable, secure, and efficient blockchain ecosystem. By addressing long-standing challenges and setting the stage for future innovations, Ethereum continues to solidify its position as a leader in the blockchain space.
Disclaimer
This article is intended for informational and educational purposes only and should not be considered financial advice. The cryptocurrency market is highly volatile, and readers are encouraged to conduct their own research and consult with financial advisors before making any investment decisions.
References
Hazan, I. (2024, February 27). Ethereum’s Dencun Upgrade: Technical Overview and Potential Market Impact. Decrypt.ThirdWeb. (n.d.). What is the Dencun Upgrade? Ethereum Upgrade Explained. Blog.thirdweb.Ethereum Foundation Blog. (2024, February 27). Dencun Mainnet Announcement. Blog.ethereum.DataWallet. (n.d.). Ethereum Cancun Upgrade Explained: EIP List & Release Date. Datawallet.ConsenSys. (n.d.). Ethereum Evolved: Dencun Upgrade Part 5, EIP-4844. Consensys.
#TrendingTopic #Write2Earn
See original
Dencun hard fork launched on Sepolia testnet
On January 30, Ethereum blockchain developers deployed the Dencun update to the Sepolia test network. Paritosh Jayanti, a DevOps engineer at the Ethereum Foundation, noted that the blobspace mechanism is now available in Sepolia, which is an alternative to calldata.
#Ethereum #Dencun
$ETH
On January 30, Ethereum blockchain developers deployed the Dencun update to the Sepolia test network. Paritosh Jayanti, a DevOps engineer at the Ethereum Foundation, noted that the blobspace mechanism is now available in Sepolia, which is an alternative to calldata.
#Ethereum #Dencun
$ETH
🔥 #Ethereum Dencun Upgrade Goes Live: Key Highlights
1⃣ Milestone Deployment: The #Dencun upgrade went live on the Ethereum mainnet on March 13, 2024, marking a significant advancement in supporting Layer 2 scaling solutions.
2⃣ Major Update: It's #ETH most substantial update since the Shapella upgrade in April 2023, facilitating the withdrawal of staked ETH.
3⃣ Merging Upgrades: Dencun merges elements from Cancun (execution layer) and Deneb (consensus layer), aiming to streamline transaction handling and consensus mechanisms.
4⃣ Reduced Fees: By leveraging Proto-Danksharding, the upgrade will alleviate surging gas fees, which have increased by over 100% in the last year.
5⃣ 9 EIPs: The hard fork comprises nine Ethereum Improvement Proposals (EIPs), bolstering Ethereum's scalability and overall functionality.
6⃣ EIP-4844: Introduces the "blob space" concept, providing rollups with a cost-effective method of adding data to blocks, reducing the burden on Ethereum nodes.
6⃣ Competitive Edge: The Dencunupgrade has the potential to enhance Ethereum's scalability and competitiveness against faster chains, aiding its transition to a global #Layer2 network database.
7⃣ Monitoring Success: Metrics like active addresses will be crucial in gauging the upgrade's impact on the Ethereum ecosystem and its success in addressing slow transaction speeds, low throughput, and high user costs.
#HotTrends #BTC $BTC $ETH $SOL
1⃣ Milestone Deployment: The #Dencun upgrade went live on the Ethereum mainnet on March 13, 2024, marking a significant advancement in supporting Layer 2 scaling solutions.
2⃣ Major Update: It's #ETH most substantial update since the Shapella upgrade in April 2023, facilitating the withdrawal of staked ETH.
3⃣ Merging Upgrades: Dencun merges elements from Cancun (execution layer) and Deneb (consensus layer), aiming to streamline transaction handling and consensus mechanisms.
4⃣ Reduced Fees: By leveraging Proto-Danksharding, the upgrade will alleviate surging gas fees, which have increased by over 100% in the last year.
5⃣ 9 EIPs: The hard fork comprises nine Ethereum Improvement Proposals (EIPs), bolstering Ethereum's scalability and overall functionality.
6⃣ EIP-4844: Introduces the "blob space" concept, providing rollups with a cost-effective method of adding data to blocks, reducing the burden on Ethereum nodes.
6⃣ Competitive Edge: The Dencunupgrade has the potential to enhance Ethereum's scalability and competitiveness against faster chains, aiding its transition to a global #Layer2 network database.
7⃣ Monitoring Success: Metrics like active addresses will be crucial in gauging the upgrade's impact on the Ethereum ecosystem and its success in addressing slow transaction speeds, low throughput, and high user costs.
#HotTrends #BTC $BTC $ETH $SOL
🟡 Ethereum's Dencun hard fork, launched on March 13, brings significant reductions in L2 gas fees with EIP-4844's introduction.
This update, featuring "blobs" for efficient data handling, marks a step towards Ethereum's scalability, dropping median gas fees by up to 96.8%.
#Ethereum #Dencun #DencunUpgrade #TrendingTopic
This update, featuring "blobs" for efficient data handling, marks a step towards Ethereum's scalability, dropping median gas fees by up to 96.8%.
#Ethereum #Dencun #DencunUpgrade #TrendingTopic
How #Dencun will effects $ETH L2?
Ethereum Dencun update will not only make $ETH bullish, but also make its Layer 2 faster and lower transaction costs.
Which Layer 2 will effect? I don't know exactly as there are many Layer 2 in Crypto Market.
Polygon $Matic also has ZK-rollup project .
Arbitrium $ARB and Optimmism $OP are also to consider.
How about specific Layer2 like ImmutableX $IMX , Blur $BLUR and Exchange protocol like $dYdx DYDX.
And #MANTA
$MANTA will also going up as it started gaining traction. Will Dencun also effect Manta Pacific ? How its toke will react.
Let's see.
Ethereum Dencun update will not only make $ETH bullish, but also make its Layer 2 faster and lower transaction costs.
Which Layer 2 will effect? I don't know exactly as there are many Layer 2 in Crypto Market.
Polygon $Matic also has ZK-rollup project .
Arbitrium $ARB and Optimmism $OP are also to consider.
How about specific Layer2 like ImmutableX $IMX , Blur $BLUR and Exchange protocol like $dYdx DYDX.
And #MANTA
$MANTA will also going up as it started gaining traction. Will Dencun also effect Manta Pacific ? How its toke will react.
Let's see.
#write2earn
Navigating #Ethereum 's Rollup-Centric Future: #Dencun Update and the Road Ahead #layer2 #HotTrends
$ETH $ARB $OP
The recent rollout of Ethereum's Dencun update, a major milestone after extensive planning, has been met with mixed reactions. While it's a step forward, particularly with the introduction of Proto-danksharding aimed at enhancing scalability by incorporating sharding principles, some concerns linger among developers.
Dencun focuses on empowering Layer 2 solutions, primarily to reduce fees for rollup networks like Optimism and Arbitrum. While this is celebrated by many for potentially making Ethereum more affordable, others worry about the long-term implications. Ethereum's co-founder Vitalik Buterin has been advocating for a "rollup-centric" approach, where third-party layer-2 networks take the lead in scaling efforts, rather than directly addressing Ethereum's high gas fees.
Proto-danksharding is a significant move towards this vision, optimizing Ethereum to support rollups better. However, there's apprehension about relying too heavily on third-party networks, fearing it might fragment the Ethereum ecosystem and weaken its primary use as a settlement layer. Concerns also arise regarding the security of rollups, as they vary in design and may not offer the same level of security as Ethereum's base layer.
Despite these concerns, there's acknowledgment that cheaper networks might be an inevitable shift, and Ethereum is adapting to this evolving landscape by providing users with more options.
Navigating #Ethereum 's Rollup-Centric Future: #Dencun Update and the Road Ahead #layer2 #HotTrends
$ETH $ARB $OP
The recent rollout of Ethereum's Dencun update, a major milestone after extensive planning, has been met with mixed reactions. While it's a step forward, particularly with the introduction of Proto-danksharding aimed at enhancing scalability by incorporating sharding principles, some concerns linger among developers.
Dencun focuses on empowering Layer 2 solutions, primarily to reduce fees for rollup networks like Optimism and Arbitrum. While this is celebrated by many for potentially making Ethereum more affordable, others worry about the long-term implications. Ethereum's co-founder Vitalik Buterin has been advocating for a "rollup-centric" approach, where third-party layer-2 networks take the lead in scaling efforts, rather than directly addressing Ethereum's high gas fees.
Proto-danksharding is a significant move towards this vision, optimizing Ethereum to support rollups better. However, there's apprehension about relying too heavily on third-party networks, fearing it might fragment the Ethereum ecosystem and weaken its primary use as a settlement layer. Concerns also arise regarding the security of rollups, as they vary in design and may not offer the same level of security as Ethereum's base layer.
Despite these concerns, there's acknowledgment that cheaper networks might be an inevitable shift, and Ethereum is adapting to this evolving landscape by providing users with more options.
(Parithosh)
#Blobs are live on Ethereum Mainnet!
The #Dencun fork finalized without issues and the network has been running stably since then. We can see healthy blob propagation statistics (expect a deeper analysis over the next weeks).
Congrats to all the client teams and contributors!
#ETH #DencunUpgrade
#Blobs are live on Ethereum Mainnet!
The #Dencun fork finalized without issues and the network has been running stably since then. We can see healthy blob propagation statistics (expect a deeper analysis over the next weeks).
Congrats to all the client teams and contributors!
#ETH #DencunUpgrade
Ethereum Sets March 13 for Dencun Upgrade, Introducing Proto-Danksharding
Ethereum's development community has earmarked March 13 as the launch date for its Dencun upgrade, a pivotal step forward for the blockchain. The Dencun upgrade, blending elements from the Cancun and Deneb updates, is poised to integrate several Ethereum Improvement Proposals (EIPs), with proto-danksharding (EIP-4844) being a standout feature aimed at reducing transaction costs, particularly on layer 2.
A Leap in Blockchain Evolution
The Dencun upgrade stands as Ethereum's most significant update since April 2023, signaling a crucial evolution in the blockchain's capability. Proto-danksharding introduces "blobs" that allow the temporary storage of large volumes of off-chain data by Ethereum nodes, designed to alleviate storage pressures and slash transaction costs for decentralized applications (dapps), especially benefiting Layer 2 rollup chains by enabling more efficient and scalable data handling.
Successful Testnet Implementations
Following thorough deliberations in the bi-weekly all-core developers coordinating call, the March 13 date was selected after Dencun's smooth implementation on the Holesky testnet. This testnet deployment, confirmed by Ethereum execution client Nethermind, marked a critical milestone, ensuring the upgrade's readiness for the mainnet. Dencun had previously seen successful deployments on the Goerli testnet on January 17 and the Sepolia testnet on January 30, underscoring a meticulous and phased approach to its rollout.
Anticipated Mainnet Launch
Scheduled to activate at block 8626176, precisely at 13:55 UTC on March 13, the Dencun upgrade's mainnet launch is a highly anticipated event. However, this date awaits final ratification from the developer community and official confirmation on GitHub. This upgrade, colloquially referred to as a "hard fork," represents years of dedicated effort, as noted by Parithosh Jayanthi, a DevOps engineer at the Ethereum Foundation.
Proto-Danksharding: A Gateway to Scalability
The introduction of proto-danksharding is a major highlight of the Dencun upgrade. This innovation aims to lower transaction costs significantly by introducing a new transaction class designed to accommodate large data "blobs." Such advancements are not only expected to make Ethereum more cost-effective but also enhance the appeal of projects like Celestia, Avail, and EigenDA.
Beyond Dencun: The Road Ahead
While the Dencun upgrade marks a significant milestone, the Ethereum community is already looking towards future improvements. The next hard fork, Prague/Electra, is expected to include innovations like "Verkle Trees," which promise to optimize node storage capabilities without compromising block validation efficiency.
A Continuum of Progress
Ethereum's journey of continuous evolution, from the Shapella upgrade in April 2023 that enabled ether withdrawals to the forthcoming Dencun deployment, underscores its commitment to meeting the expanding needs of its users and the broader decentralized ecosystem. With each upgrade, Ethereum cements its position as a leading blockchain platform, ready to tackle the challenges and opportunities of a rapidly evolving digital landscape.
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#Ethereum #ETH #Dencun #blockchain
Notice:
,,The information and views presented in this article are intended solely for educational purposes and should not be taken as investment advice in any situation. The content of these pages should not be regarded as financial, investment, or any other form of advice. We caution that investing in cryptocurrencies can be risky and may lead to financial losses.“
A Leap in Blockchain Evolution
The Dencun upgrade stands as Ethereum's most significant update since April 2023, signaling a crucial evolution in the blockchain's capability. Proto-danksharding introduces "blobs" that allow the temporary storage of large volumes of off-chain data by Ethereum nodes, designed to alleviate storage pressures and slash transaction costs for decentralized applications (dapps), especially benefiting Layer 2 rollup chains by enabling more efficient and scalable data handling.
Successful Testnet Implementations
Following thorough deliberations in the bi-weekly all-core developers coordinating call, the March 13 date was selected after Dencun's smooth implementation on the Holesky testnet. This testnet deployment, confirmed by Ethereum execution client Nethermind, marked a critical milestone, ensuring the upgrade's readiness for the mainnet. Dencun had previously seen successful deployments on the Goerli testnet on January 17 and the Sepolia testnet on January 30, underscoring a meticulous and phased approach to its rollout.
Anticipated Mainnet Launch
Scheduled to activate at block 8626176, precisely at 13:55 UTC on March 13, the Dencun upgrade's mainnet launch is a highly anticipated event. However, this date awaits final ratification from the developer community and official confirmation on GitHub. This upgrade, colloquially referred to as a "hard fork," represents years of dedicated effort, as noted by Parithosh Jayanthi, a DevOps engineer at the Ethereum Foundation.
Proto-Danksharding: A Gateway to Scalability
The introduction of proto-danksharding is a major highlight of the Dencun upgrade. This innovation aims to lower transaction costs significantly by introducing a new transaction class designed to accommodate large data "blobs." Such advancements are not only expected to make Ethereum more cost-effective but also enhance the appeal of projects like Celestia, Avail, and EigenDA.
Beyond Dencun: The Road Ahead
While the Dencun upgrade marks a significant milestone, the Ethereum community is already looking towards future improvements. The next hard fork, Prague/Electra, is expected to include innovations like "Verkle Trees," which promise to optimize node storage capabilities without compromising block validation efficiency.
A Continuum of Progress
Ethereum's journey of continuous evolution, from the Shapella upgrade in April 2023 that enabled ether withdrawals to the forthcoming Dencun deployment, underscores its commitment to meeting the expanding needs of its users and the broader decentralized ecosystem. With each upgrade, Ethereum cements its position as a leading blockchain platform, ready to tackle the challenges and opportunities of a rapidly evolving digital landscape.
$ETH
#Ethereum #ETH #Dencun #blockchain
Notice:
,,The information and views presented in this article are intended solely for educational purposes and should not be taken as investment advice in any situation. The content of these pages should not be regarded as financial, investment, or any other form of advice. We caution that investing in cryptocurrencies can be risky and may lead to financial losses.“
#Grayscale Investments, in a recent report, suggests that Ethereum's recent price surge is more attributable to anticipation surrounding the upcoming #Dencun upgrade, scheduled for March 13th, 2024, rather than optimism about the potential approval of a spot #EtherETF by the Securities and Exchange Commission (SEC). The Dencun upgrade is expected to enhance throughput and reduce transaction costs on the Ethereum network, making it more competitive in the Smart Contract Platforms Crypto Sector. Grayscale Research Analyst William Ogden Moore notes that the upgrade could position #Ethereum to compete with faster chains like Solana in terms of scalability. Grayscale, currently seeking SEC approval for converting its Ethereum trust into a spot Ether ETF, remains optimistic about Ethereum's potential, citing factors such as "net deflationary supply" and "network revenue generation." The report also emphasizes Ethereum's ability to capture more smart contract business by improving throughput and cost competitiveness. Ethereum's price has risen about 25% since the beginning of the year, and Grayscale holds the largest spot Bitcoin ETF by assets under management.
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The Uniswap Version 4 protocol launch is tentatively scheduled for Q3 this year
Uniswap Foundation plans to launch #Uniswap version 4 (v4) in Q3 2024, pending Ethereum's #Dencun hard fork and security audits.
V4 introduces modular "hooks" for liquidity pool customization, including dynamic fees and on-chain limit orders. A "flash accounting" system will reduce fees for liquidity providers. The upgrade aims to enhance Uniswap's flexibility and user experience.
Uniswap Foundation plans to launch #Uniswap version 4 (v4) in Q3 2024, pending Ethereum's #Dencun hard fork and security audits.
V4 introduces modular "hooks" for liquidity pool customization, including dynamic fees and on-chain limit orders. A "flash accounting" system will reduce fees for liquidity providers. The upgrade aims to enhance Uniswap's flexibility and user experience.
BREAKING!!
The #Ethereum mainnet saw the successful deployment of the #Dencun upgrade at 1:55 pm UTC on March 13. This upgrade, highly awaited since the Merge, aims to drastically lower transaction fees for layer-2 networks and boost Ethereum's scalability. However, Arthur Breitman, co-founder of Tezos blockchain, notes that while the Dencun upgrade marks progress, it does not address every limitation of layer-2 solutions. $ETH
The #Ethereum mainnet saw the successful deployment of the #Dencun upgrade at 1:55 pm UTC on March 13. This upgrade, highly awaited since the Merge, aims to drastically lower transaction fees for layer-2 networks and boost Ethereum's scalability. However, Arthur Breitman, co-founder of Tezos blockchain, notes that while the Dencun upgrade marks progress, it does not address every limitation of layer-2 solutions. $ETH