Ethereum Successfully Deploys ‘Dencun’ Upgrade on Holesky Testnet
Blobs, danksharding and rollups. You’d be forgiven for thinking that these were the names of prominent lolly brands. But in reality, these are the terms used to refer to powerful codes designed to improve the Ethereum network. The most recent pending update, known as ‘Dencun’ is ready to enter its final phase before going live, after successfully running on Ethereum’s testnet yesterday.
What is Dencun and How Does it Work?
The key to Ethereum’s Dencun upgrade is proto-danksharding. This new technology was developed thanks to Ethereum Improvement Proposal 4844, which is introducing a new style of transaction to the Ethereum network. Specifically, proto-danksharding is intended to assist ‘rollups’ – a technique of batching data used by L2s such as Optimism and Arbitrum. By using the new form of transaction called ‘blobs’, L2s can batch transactions quickly and more efficiently than at present, leading to vastly lower transaction fees and greater flexibility for dApp developers.
Nikolay Angelov, the Head of Blockchain at Nexo, was excited about the ‘Dencun’ upgrade’s potential scalability improvements:
Ultimately, it is the ability to onboard new protocols into a much freer-flowing environment and move capital at lower costs that will ultimately enhance cryptocurrency adoption by delivering a more economically feasible, highly-scalable on-chain solution.
Testnets are often the last line of defence for developers making changes to a live blockchain. These networks – intended to mirror the real blockchain as closely as possible – ensure that upgrading the network won’t have any major ramifications, downtime or ripple effects down the line. Dencun has now been trialled on three different testnets, with no bugs reported. Theoretically, the upgrade should be ready to go live on the Ethereum Mainnet without a hitch.