Ethereum developers have successfully deployed the Dencun update to the mainnet.
On March 13, the update was successfully launched, aiming to scale and reduce fees not only on the mainnet but also on layer-2 protocols. Project team member Tim Beiko confirmed the launch of the update.
Dencun went live, we've had blobs land in blocks on mainnet .oO 🎉
— timbeiko.eth ☀️ (@TimBeiko) March 13, 2024
Etherscan data also shows that the Ethereum mainnet block height has reached the Dencun upgrade scheduled epoch. In addition, 10 minutes after the update launch, changes in the size of commissions are observed – the average is 56 gwei.
Amid anticipation of the update’s launch, the Ethereum (ETH) price reached $4,083, a new high from December 2021. However, shortly after the launch, ETH reacted with a drawdown – at the time of writing, the price is $3,993.
Due to high transaction costs, on-chain activity on the Ethereum network has stagnated for a long time. However, with Dencun, users can expect a revival in the defi segment, fueled by the cyclical growth of the market as a whole, increasing the competitiveness of ETH. Rollups will also become cheaper, noted developer Anton Cheng.
— Anton Cheng (@antonttc) March 12, 2024EIP 4844:
I guess people are already familiar with this:
Blob is coming.
Rollup is becoming cheaper. Introduces more interesting topics like blob-sharing among rollups.We're one way closer to danksharding pic.twitter.com/LTQcgIpFsn
In addition to the reduction in commissions, Dencun included several more updates, among which the proposal to allow the introduction of a perpetual signature for voluntary withdrawal from ETH staking, improved voting evaluation, limits on validators joining, a new command for the basic memory copy operation, and others.