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Ethereum Developers Deploy Dencun Upgrade on Goerli Testnet

2 mins
Updated by Ryan Boltman
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In Brief

  • Ethereum core developers deployed the Dencun upgrade on the Goerli testnet, facing challenges with achieving finality.
  • The Dencun upgrade will implement the Ethereum Improvement Proposal - 4844 (EIP-4844), aiming to tackle storage demands
  • The upgrade is expected to significantly lower transaction costs for Ethereum decentralized applications (dApps).
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Ethereum core developers deployed the Dencun upgrade on the Goerli testnet. However, the testnet deployment faced challenges with finality.

Before the launch on the main network (mainnet), blockchain developers test the updates on the testnet. It eliminates the risk of losing real funds on the mainnet if there are some mishaps during testing.

Dencun Upgrade Expected to Significantly Decrease Ethereum Transaction Costs

On Wednesday, Ethereum core developers forked the Goerli testnet to implement the Dencun upgrade. However, the team faced challenges in achieving finality due to the low participation of validators.

Read more: What Is a Mainnet in Cryptocurrency?

When a blockchain upgrade achieves finality, it means that the change is permanent and irreversible.

The team seeks time to do a proper evaluation of the upgrade. However, before the upgrade, one of the developers anticipated challenges.

“It will take time to accurately evaluate the status. Therefore, before someone claims that the Goerli hard fork failed and Deneb is delayed, we should allow time for a proper analysis,” said Ethereum developer – Terence.

Despite the Dencun upgrade, there is no significant impact on the price of Ethereum (ETH). The screenshot below shows that ETH is trading at $2,545, up by 0.83% in the last 24 hours.

Ethereum (ETH) Price
Ethereum (ETH) Price. Source: BeInCrypto

The team plans to implement the Dencun upgrade on the Sepolia testnet by the end of January. Meanwhile, it has scheduled the upgrade on the Holesky testnet on February 7. As of now, the Dencun mainnet upgrade is expected by the end of the first quarter.

The Dencun upgrade will implement the Ethereum Improvement Proposal – 4844 (EIP-4844). Consequently, the upgrade will allow temporary storage and access of off-chain data by Ethereum nodes, aiming to alleviate storage demands. 

“EIP-4844 can bring rollup fees down by orders of magnitude and enable Ethereum to remain competitive without sacrificing decentralization,” explains the EIP-4844 official website.

Read more: What Is EIP-4844?

The anticipated outcome is a significant reduction in transaction costs for Ethereum decentralized applications (dApps). High transaction costs or gas fees are one of the main pain points of Ethereum users.

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Harsh Notariya
Harsh Notariya is a journalist at BeInCrypto, who writes about various topics, including decentralized physical infrastructure networks (DePIN), tokenization, crypto airdrops, decentralized finance (DeFi), meme coins, and altcoins. Before joining BeInCrypto, he was a community consultant at Totality Corp, specializing in the metaverse and non-fungible tokens (NFTs). Additionally, Harsh was a blockchain content writer and researcher at Financial Funda, where he created educational reports on...
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