On March 13th, the Ethereum team successfully implemented the Dencun (Deneb-Cancun) upgrade on the main network.
Dencun went live, we've had blobs land in blocks on mainnet .oO 🎉
— timbeiko.eth ☀️ (@TimBeiko) March 13, 2024
One of the key components of the upgrade is EIP-4844, which includes the Proto-Danksharding option designed to scale the network by introducing a new type of transaction for large arrays of binary data (BLOB).
It is expected to significantly reduce transaction fees for L2 solutions, particularly based on Rollup technology. According to estimates by IntoTheBlock experts, the average swap transaction fee on Arbitrum will decrease from $2.02 to $0.40, on Optimism from $1.42 to $0.28, and on Base it will drop to $0.01.
Similar expectations for the upgrade were voiced by the Polygon team, confirming that rollups such as Polygon zkEVM, Linea, Scroll, and zkSync will benefit the most.
Next week is the mainnet rollout of the Dencun upgrade. Included with it is EIP-4844, which will lower transaction fees related to calldata on L2s.
On Polygon zkEVM, posting to calldata accounts for 80% of a tx fee. Current estimates are that blobs will reduce this by 2X – 5X.… pic.twitter.com/Y5iWE7QgYJ
— Polygon Foundation (@0xPolygonFdn) March 7, 2024
On January 17th, the activation of Dencun on the Goerli testnet (consensus layer) led to a chain split. Developers resolved the issue within approximately four hours.
And it seems like we have a chain split! Client teams are looking into it, but it's likely to a while to pin down + fix the issues. Keep an eye out for updates!
— timbeiko.eth ☀️ (@TimBeiko) January 17, 2024
The deployment of the upgrade on Sepolia (execution layer) on January 31st proceeded smoothly. On March 7th, the implementation of the update on Holesky (launched in 2023 to replace Goerli) also encountered no issues.
The following day, during the weekly call, the team confirmed the activation date of the hard fork on the mainnet.
It is worth noting that according to experts at Grayscale, the launch of Dencun will help Ethereum “mature,” increasing the scalability of the network.
