Gnosis Chain developers have successfully implemented the Dencun update to enhance the scalability of decentralized applications on the network.

Philippe Schommers, Gnosis’ head of infrastructure, highlighted the significance of the Dencun update, particularly the introduction of new blob transactions by proto-danksharding. This development signifies a major step forward for the blockchain community in overcoming challenges to create a more scalable network.

The introduction of temporary data with the Dencun update is crucial in addressing state bloat issues. Previously, all layer-2 data was stored indefinitely on Ethereum nodes, leading to increased network load. With the implementation of this new data type, data will now be automatically discarded after approximately two weeks.

In a recent statement, the Gnosis team confirmed the activation of type-3 blob transactions on the sidechain, known as EIP-4844 or proto-danksharding. These transactions are set to go live on the Ethereum network following the activation of the Dencun update, resulting in more accessible data and lower transaction costs on layer-2 networks.

Ethereum developers are actively working on updating the network to enhance the efficiency of layer-2 solutions. The primary objective is to reduce transaction fees for users through proto-danksharding, ultimately making second-tier networks more cost-effective.

As anticipation builds for the upcoming update, the price of Ethereum has surged past the critical $4,000 mark, reaching a multi-year high.

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