A core Ethereum blockchain developer has tweeted (X) regarding the anticipated launch date of the Dencun update.
The update, which will introduce the Blobs and Proto-Danksharding mechanisms, is predicted to enhance Ethereum’s speed to up to 100,000 transactions per second, thanks to improved collaboration between Ethereum and its second-layer blockchains.
Ethereum Upgrade Launch Date
This tweet was posted by the Twitter account named timbeiko.eth, stating that the Dencun update will occur on slot 8626176.
Manually calculating from the current state of the Ethereum Blockchain, this update is predicted to take place on March 13, 2024.
One of the main highlights is the implementation of the Blobs mechanism, which is part of the new mechanism introduced through EIP-4844.
Blobs are part of a new innovation called Proto-Danksharding, which is expected to help Ethereum increase its transaction speed to 100,000 transactions per second.
This transaction speed is achieved through collaboration with second-layer blockchains such as Arbitrum and Polygon, due to the introduction of new communication mechanisms in this update.
With the introduction of Blobs, communication between Ethereum and its second-layer blockchains becomes more efficient due to changes in data delivery and storage mechanisms.
Currently, before the update is introduced, if a transaction on the Ethereum Blockchain requires assistance from a second-layer blockchain, the data from that transaction will be sent from Ethereum to the second layer one by one.
Additionally, after being validated by the second-layer blockchain, this data will be permanently stored on that blockchain and also on Ethereum.
This mechanism forces second-layer blockchains to accept data at a slower pace and to have larger data storage capabilities.
As a result of the increased effort in data transfer and storage, transaction costs become higher compared to transactions solely occurring within the second-layer blockchain itself.
Through Blobs, data transfer will be grouped so that data sent from Ethereum to second-layer blockchains is done in larger batches, speeding up the transaction validation process on Ethereum by allowing simultaneous sending rather than waiting one by one.
Furthermore, with the Blobs mechanism, second-layer blockchains only need to store Ethereum transaction data for a short period until validation is complete.
Thus, the second-layer blockchain does not require additional storage space because after transaction validation, data can be deleted, and the data will only be stored on Ethereum.
This data will only be stored for one to three months, minimizing the need for large storage space.
The result is higher transaction speeds and lower transaction costs, as data does not have to wait in line one by one, and storage space costs decrease.
Successful Test Runs
This update has passed two trial stages, on the Sepoila test network and the Holesky test network.
Ethereum developers have also conducted initial trials on the Goerli test network in mid-January 2024, making this update ready for implementation overall.
According to circulating data, the trial on Sepoila was conducted on January 31, 2024, and was successful because several Ethereum clients such as Nethermind participated in the trial.
The trial was also conducted on February 7 on the Holesky test network, indicating that trials have been conducted across all Ethereum test networks. For now, there is no official confirmation yet regarding the launch date.
However, if it indeed occurs on slot 8626176 and successfully implements the promised outcome of 100,000 transactions per second, Ethereum may potentially surpass the majority of third-generation blockchains that have maximum speeds below this rate.
The majority of funds and activities in the crypto world could return to Ethereum because with this update, not only can transactions on Ethereum become more convenient, but they can also become more inclusive, catering not only to large investors but also to small investors due to reduced transaction costs.
