WOO (woo) 
Ethereum Developers Successfully Deploy Dencun Update to Mainnet
On March 13, Ethereum developers successfully deployed the Dencun update to the mainnet with the aim of scaling and reducing fees not only on the mainnet but also on layer-2 protocols. Tim Beiko, a member of the project team, confirmed the successful launch of the update.
Etherscan data shows that the Ethereum mainnet block height has reached the Dencun upgrade scheduled epoch. Just 10 minutes after the update launch, changes in the commission size were observed, with the average being 56 gwei.
The anticipation of the update’s launch caused the price of Ethereum (ETH) to reach $4,083, a new high since December 2021. However, shortly after the launch, ETH experienced a drawdown, with the price currently at $3,993.
With high transaction costs causing on-chain activity on the Ethereum network to stagnate, the Dencun update is expected to bring a revival in the DeFi segment. This will be fueled by the cyclical growth of the market as a whole, increasing the competitiveness of ETH. Rollups will also become cheaper, as noted by developer Anton Cheng.
In addition to the reduction in fees, the Dencun update includes several other updates, such as the proposal to allow the introduction of a perpetual signature for voluntary withdrawal from ETH staking, improved voting evaluation, limits on validators joining, a new command for the basic memory copy operation, and more.
The Dencun upgrade is set to further reduce Ethereum’s dominance and accelerate layer-2 solutions, according to Flipside. This update brings exciting developments to the Ethereum network, paving the way for a more efficient and cost-effective ecosystem.
