ETH Clocks $2,534 as Geth Latest Update Sets Stage for Dencun Upgrade

The biggest Ethereum execution layer client, Go Ethereum (Geth), has rolled out a crucial update in preparation for the highly anticipated Ethereum mainnet Dencun upgrade. Geth’s recent release, Geth v1.13.12, codenamed Edolus, plays a pivotal role in the Dencun upgrade journey. This release integrates the mainnet fork number for Cancun and addresses a Geth miner tip enforcement bug.

Furthermore, the update incorporates several Ethereum Improvement Proposals (EIPs). This includes enhancements like transient storage opcodes (EIP-1153), Beacon block root in the EVM (EIP-4788), and Shard Blob Transactions (EIP-4844). Additionally, features such as MCOPY instruction (EIP-5656), SELFDESTRUCT restrictions (EIP-6780), and BLOBBASEFEE opcode (EIP-7516) are now part of the Ethereum ecosystem.

Moreover, Geth’s latest release introduces a refreshed Grafana dashboard alongside fixes and features. This includes era format for cross-client archive data, configurable RPC request limits, and memory-leak fixes for blob transactions. The adherence to engine API spec and minimum miner tip has also been bolstered.

In a recent conference call, Ethereum developers established March 13 as the target date for the Dencun upgrade. The term ‘Dencun’ is a combination of ‘Cancun’ and ‘Deneb.’ “Cancun” denotes the execution layer of the upgrade, while “Deneb” signifies the consensus layer of the upgrade.

The anticipated March upgrade will mark a significant milestone for Ethereum as it introduces the much-discussed proto-dank sharding feature. Notably, proto-dank sharding introduces “data blobs” to Ethereum blocks, allowing layer two solutions to store temporary data cheaply.

In response to these developments, the price of Ethereum (ETH) crossed the $2,500 threshold in the last 24 hours. Its cumulative seven-day trajectory now stands significantly at over 10.2%

ETH Chart | CoinMarketCap

At the time of reporting, ETH trades at $2,534 as market participants exchanged over $7.2 billion of the asset over the past day.

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