Final Timeline Released as Ethereum's Highly-Anticipated Upgrade Nears Completion

With Dencun's arrival, the developers of Ethereum predict that its price will significantly decrease.

According to a recent blog post from the Ethereum Foundation, the highly anticipated Sepolia and Holesky testnets are set to be finished by early next month.

As a result, the mainnet launch of the upgrade is expected to take place in March

"Assuming the Sepolia and Holesky upgrades go well, Dencun will be scheduled on the Ethereum mainnet next,” the post read, adding that Sepolia is due to take place on January 30, while Holesky will be completed on a testnet by February 7.

According to the developers, these incremental steps are crucial in making Ethereum faster and more cost-effective.

ETH, the second-largest cryptocurrency by market cap, is supported by the Ethereum blockchain, which is notorious for its congested network. Thus, it becomes challenging and costly for individuals who intend to utilize Ethereum for app development or fund transfers.

However, those involved in the technology assert that the upcoming upgrade will address the scalability issue of the Ethereum network.

Known as proto-danksharding (or EIP-4844), one notable aspect of the upgrade is its ability to efficiently process more than 100,000 transactions per second on the network at a low cost.

According to developers, this will be achieved by significantly reducing the costs associated with Ethereum layer-2 solutions, including Optimism.

According to a report by market intelligence firm Messari in October, layer-2 solutions on Ethereum are where the majority of Ethereum's activity occurs. These solutions operate alongside the main network, allowing transactions to be efficiently processed without relying heavily on Ethereum's blockchain.

Ethereum has been continuously enhancing its capabilities. One significant milestone was reached in 2022 with the highly publicized upgrade known as 'the merge,' which transitioned the network from proof of work to proof of stake.