YEREVAN (CoinChapter.com) — The Ethereum Dencun upgrade went live on the Goerli testnet on Jan 17 as planned, but it encountered some issues. The upgrade, which was initiated at 6:32 UTC, failed to reach a consensus and finalize on the testnet.
Ethereum Dencun Upgrade Launched — Or Not?
This lack of finalization was likely due to low participation and some validators not upgrading parts of their software. Developers are expecting to resolve these issues in the coming days.
In detail, finality in blockchain refers to the irreversibility of transactions once confirmed and added to a block, and a testnet is used for testing applications and upgrades before they are implemented on the mainnet. The Dencun upgrade on Goerli is part of a phased approach to introduce a new, less costly method of data storage on the main Ethereum blockchain.
Tim Beiko, a coordinator for the Ethereum Foundation, tweeted the latest news and promised to update his followers on the updates concerning Dencun.
In the tweet above, a “blob” is a term related to the proposed Ethereum Improvement Proposal (EIP) called EIP-4844, also known as “proto-danksharding.” Blobs are large data packages temporarily included in the Ethereum blockchain to enhance its scalability and reduce gas fees for Layer 2 solutions.
Here are more details about the Upgrade
What Does The Upgrade Entail?
The Ethereum Dencun upgrade, slated for early 2024 focuses on enhancing Ethereum scalability, security, and efficiency. It comprises two parts: Deneb and Cancun, spread across nine Ethereum Improvement Proposals (EIPs).
Several EIPs, including the mentioned EIP-4788, 6780, and 7514, focus on enhancing security at both the user application and consensus levels. Also, several Proposals aim to improve the staking user experience and block confirmation times. For example, EIP-7044 makes voluntary exits in delegated staking perpetually valid, and EIP-7045 extends the time for validators to submit attestations.
The Dencun upgrade is a part of Ethereum’s long-term development strategy, particularly its “Surge” phase, aiming to scale performance to 100,000+ transactions per second (TPS). It’s a continuation of Ethereum’s evolution following the Shanghai hardfork and is crucial in establishing Ethereum as a scalable, decentralized, and globally accessible settlement layer.
The team initially planned the upgrade for late 2023 but rescheduled it for 2024 due to deployment and consensus issues. The final dates for public testnets are:
- Goerli: January 17, 2024
- Sepolia: January 30, 2024
- Holesky: February 7, 2024
Ethereum plans the mainnet launch to occur in early or mid-March 2024. However, the date could be subject to change.
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