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The Ethereum blockchain is undergoing a massive rebrand, with its long-awaited Dencun upgrade now live on the Sepolia testnet.The Ethereum Foundation expects the Dencun upgrade to be launched on Sepolia on January 30 and successfully integrated. disclose Developed by core developer Terrence.eth, who has received many accolades from the community for it.
The Dencun upgrade going live on Sepolia is one of the two remaining steps required to launch the update on the Ethereum mainnet. Ethereum has long suffered from low scalability and high gas fees. To that end, it continues to face strong opposition from industry analysts such as legendary trader Peter Brandt, who believes its high operating costs underlie its long-term demise.
The Dencun upgrade will attempt to address scalability issues while making Ethereum more cost-effective as a protocol. The Dencun upgrade will specifically introduce proto-danksharding, a compressed data storage mechanism called “blob” to help optimize performance.
With the upgrade launched on the Goerli testnet earlier this month, development is now in its advanced stages. The final step before the mainnet debut will be the launch on the Holesky testnet, with the upgrade scheduled for February 7th.
Ethereum fights back against rivals
Many new protocols have emerged to exploit weaknesses in the Ethereum protocol. From Solana (SOL) to Cardano (ADA) and even Avalanche (AVAX), the race to dethrone Ethereum remains a core mantra for many developers in today’s Web3 ecosystem.
Through the Dencun upgrade, many pain points on Ethereum can be solved, making the protocol more attractive to developers and end users overall. With this upgrade, Ethereum is expected to expand its dominance as the blockchain of choice in areas such as decentralized finance (DeFi).
