Ethereum (ETH) developers have outlined a comprehensive plan for the network’s development in 2024, including significant upgrades and new proposals after their latest execution layer meeting on Dec. 8.
A key focus is on the deprecation of the Goerli testnet, with a fork scheduled for early 2024. This move is part of the strategy to activate ‘Dencun’ on the Ethereum network in January, marking a significant advancement in its technological capabilities.
Dencun Activation
The Dencun upgrade will introduce a novel concept in transaction processing termed ‘blob-carrying transactions.’ In this context, ‘blobs’ is an acronym for ‘Binary Large Objects’. The primary purpose of these blobs is to refine the way Ethereum stores and retrieves data by reducing the amount of data that must be stored indefinitely on the Ethereum blockchain.
Consequently, the transaction costs associated with data storage are expected to decrease, making overall transactions more economical. It is a
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