With the Dencun update going live at 7:25 pm IST, Ethereum’s network went through a big change. The crypto community is very excited about this event because it is almost as important as the Merge. People who have been having trouble with Ethereum’s high transaction fees will be glad to hear that the Dencun boost will cut costs and make the network more scalable than ever before.

❔Dencun: What’s in the Name?

The Dencun upgrade combines two big improvements, Cancun and Deneb. Each one focused on a different part of Ethereum’s design. The Cancun part is all about making the network work better by improving how transfers are handled. On the other hand, Deneb improves the consensus layer, making it easier for everyone in the network to agree on what the state of the blockchain is. These improvements include nine Ethereum Improvement Proposals (EIPs), which show a broad effort to make Ethereum operate faster and give users a better experience.

Dencun’s proto-danksharding is one of the most impressive things about it. With something called ‘data blobs,’ it’s basically a new way for Ethereum to handle transaction data. It is believed that this change will make transactions a lot cheaper, especially on layer-2 networks like Polygon, Optimism, and Arbitrum. The way these networks work is that they group transactions together and then handle them on the Ethereum blockchain in groups. With Dencun, such groups can be handled quicker, which means that everyone pays less.
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