– “consensus level” meetings that will be held every two weeks.
The crypto community is eagerly awaiting this update because of Ethereum Improvement Proposal 4844 (EIP-4844), known as “proto-danksharding,” which will be enabled through Dencun. Simply put, this update introduces a “blob” (space within a block), allowing more information to be stored while preserving the finiteness of the block.
This “blob” is particularly useful for Ethereum’s second-tier blockchain, which will store more transactions within the blocks of the network. Roni Schuster, a crypto analyst at Brazilian crypto exchange Mercado Bitcoin, explains that “for users, the second-level fees will be at least ten times cheaper.”
Schuster emphasizes that Ethereum itself may also benefit from this change, although the fee reduction may be “negligible.” Layer 2 transactions take up space on the blockchain, so Ethereum may have a little more leeway to allow transactions on the core network,” he adds.
The development team will release the final version of the Ethereum client with Dencun support by Feb. 22, and the validator will update nodes with new versions of the client within about two weeks.”