Ethereum

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Galaxy

The much-awaited Ethereum <a href="https://coingape.com/ethereum-dencun-mainnet-upgrade-eth-breaks-2500-as-geth-releases-crucial-update/" rel="noopener noreferrer nofollow">Dencun Upgrade</a> is just weeks away and the developers within the ecosystem are preparing for this ushering in of this game-changing update. To prepare for this event, Christine Kim, one of the developers at Galaxy has shared a to-do list for all innovators within the Ethereum network.
<h2 id="strong-preparing-for-the-ethereum-dencun-upgrade-strong">Preparing for the Ethereum Dencun Upgrade</h2>
Taking to her X account, Christine runs developers through ways to prepare for the Ethereum Dencun Upgrade. According to her, validators running on “mev boost” will have to update their software to a new version or v1.7. This version is undergoing a Flashbots preparation schedule and will be available for downloads in the coming week.
Ethereum validators running relays might not need to make any major changes. However, these classes of developers are advised to switch to the latest relay release dubbed v0.29.1 which was released in the past week. This relay has several uses with one of the most prominent being the prevention of withdrawals during the Dencun fork.
<blockquote class="twitter-tweet" data-width="550" data-dnt="true">
 quick notes from the mev boost community call today:
 1. dencun readiness <img src="https://s.w.org/images/core/emoji/14.0.0/72x72/1f421.png" alt="🐡" class="wp-smiley" style="height: 1em; max-height: 1em;"> *for validators running mev boost* you will have to update your software to a new version (v1.7) that flashbots is currently prepping and will be ready for downloading early next week… <a href="https://t.co/nxarhOkMwQ" rel="noopener noreferrer nofollow">https://t.co/nxarhOkMwQ</a>
 — Christine Kim (@christine_dkim) <a href="https://twitter.com/christine_dkim/status/1760347522025799754?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">February 21, 2024</a>
</blockquote>
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The Galaxy developer also noted that Ethereum builders will need to embrace the latest version, v1.13.12.4844.dev1 marks the latest upgrade to the Dencun testnets.&nbsp;&nbsp;
The Ethereum Dencun Upgrade is an innovation that will change the protocol altogether. This upgrade will introduce Proto-Danksharding or “blob” transactions that will be bundling transactions for cheaper processing. Besides changing the scalability of Ethereum with its simplicity, the lower costs of transactions that will accompany the upgrade will significantly change the game positively for Ethereum.
<h2 id="strong-ethereum-to-wrestle-its-cheaper-competitors-strong">Ethereum to Wrestle its Cheaper Competitors</h2>
Since the Decentralized Finance (DeFi) ecosystem on Ethereum blossomed, the usage of the blockchain for investments and transactions has been based on its legacy, not because it is more economical.
Its extremely high gas costs have not just birthed alternative chains like Solana (SOL) and Cardano (ADA), but it has significantly drawn criticisms from industry experts like Peter Brandt for its low usability.
When Ethereum <a href="https://coingape.com/how-ethereum-is-performing-after-the-merge/" rel="noopener noreferrer nofollow">transitioned into the Proof-of-Stake</a> (PoS) consensus model in 2022 the expectation was that its gas fee would reduce, however, this was not the case as developers <a href="https://coingape.com/vitalik-buterin-redesign-ethereum-staking/" rel="noopener noreferrer nofollow">promised the feature</a> in subsequent upgrades. The Ethereum Dencun Upgrade is the fulfillment of this promise and it might help push the protocol to the top of the chart as it concerns low cost and liquidity.
Whether or not this upgrade will be sustainable or not remains to be seen but the community’s anticipation is at its peak at this time.
The post <a href="https://coingape.com/ethereum-dencun-upgrade-heres-a-major-checklist-for-developers/" rel="noopener noreferrer nofollow">Ethereum Dencun Upgrade: Here’s a Major Checklist for Developers</a> appeared first on <a href="https://coingape.com" rel="noopener noreferrer nofollow">CoinGape</a>.

Ethereum Dencun Upgrade: Here’s a Major Checklist for Developers

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