What benefits does the Ethereum Dencun upgrade bring to the currency circle?

EthHub co-founder Anthony Sassano (sassal.eth) posted on the X platform that the Ethereum Dencun upgrade will be launched on the mainnet on March 13, and EIP-4844 is coming soon, injecting new vitality into the blockchain ecosystem!

Ethereum price rose to $3,000 yesterday as Ethereum ETF approval and Dencun upgrade expectations soared

Ethereum (ETH) is currently the second largest cryptocurrency by market capitalization, Analysts and investors generally believe that one of the reasons for the rise in Ethereum prices is anticipation of the approval of a physical Ethereum ETF.

The cryptocurrency market is currently full of expectations

Ethereum is about to undergo an important Dencun upgrade, which is expected to be deployed on the mainnet before March 13 . Core developers have successfully implemented the upgrade on the Holesky testnet, which also marks the official entry of the Ethereum testnet into the final testing phase.

The launch of the Dencun upgrade is of great significance to the Ethereum network and the entire blockchain ecosystem. According to Ethereum execution client Nethermind, the Dencun upgrade has been launched on the Holesky testnet and successfully integrated the Cancun and Deneb upgrades. The upgrade is expected to bring substantial benefits to blockchain rollups, providing additional block space and reducing costs for layer 2 scaling solutions.

To promote the upgrade process, Ethereum developers held an ACDE conference call to discuss and coordinate changes to the Ethereum Execution Layer (EL) to shape the future of the Ethereum network. The meeting focused on the upcoming Dencun upgrade mainnet and some important Ethereum Improvement Proposals (EIPs), such as EIP-7610 and EIP-7523.

In the previous upgrade stage, Ethereum has solved problems such as development threshold, DoS attacks and POS transition. The main goal of this upgrade phase is to reduce transaction fees and optimize user experience. Multiple EIPs that have been implemented, such as EIP-1553, EIP-4788, EIP-5656, and EIP-6780, reduce the cost of interaction between contracts, improve the efficiency of beacon chain access, reduce the cost of data replication, and limit the SELFDESTRUCT word Section code role permissions.

In addition, EIP-4844, which introduces blob data outside the block, greatly improves Ethereum’s TPS and reduces data storage costs.

This upgrade will bring additional benefits to Ethereum’s decentralized applications (DA), and will also have a positive impact on the Ethereum L2 (layer two expansion) ecosystem. Considering its benefits to the L2 ecosystem, the Cancun upgrade may be more beneficial to Op Layer 2, further promoting the development of the entire ecosystem.

In general, this upgrade aims to improve the performance limits of DApps and bring their functionality closer to applications in Web2. The biggest purpose is to expand the main chain of Ethereum, which will enhance the scalability, security and availability of the Ethereum network. It will also increase the TPS of the main chain and reduce gas fees. This will bring significant benefits to the Ethereum L2 ecosystem and is expected to promote the vigorous development of the L2 ecosystem.

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