Gnosis Unveils Dencun Upgrade for Establishing a Highly Adaptable Network
Gnosis Chain developers have successfully implemented the Dencun update to enhance the scalability of decentralized applications. Philippe Schommers, the head of infrastructure at Gnosis, praised the new blob transactions introduced by proto-danksharding, stating that they demonstrate the blockchain community’s progress in overcoming conceptual challenges and creating a more scalable network. In a statement to crypto.news, the Gnosis team announced the activation of type-3 blob transactions, known as EIP-4844 or proto-danksharding, on the sidechain. These blob transactions will be launched on the Ethereum network with the Dencun update tomorrow at 13:55 UTC. The addition of blobs will expand the network’s capabilities by increasing data availability without affecting the existing Ethereum infrastructure, resulting in more cost-effective transactions on layer-2 fusions. Ethereum developers are actively preparing to update the network of the largest altcoin, ETH. The primary objective is to reduce fees in layer-2 solutions through the implementation of proto-danksharding, which will lower transaction costs for end users of second-tier networks. As anticipation builds for the imminent update, the price of ETH has surpassed the critical threshold of $4,000 and reached a multi-year high.
