Dencun update goes live on Ethereum mainnet

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.

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.

Source: Etherscan

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.

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.