Ethereum’s long-awaited update is coming as the devs prepare the final timeline.

Denkun is coming. And Ethereum It's going to happen. a lot Cheaper as a result, according to Devs.

Yesterday's blog post by the Ethereum Foundation Confirmed The next two phases of the long-awaited upgrade, known as the Sepolia and Holesky testnets, will be completed early next month.

This means the update should be live on the mainnet by March.

“Assuming that Seppolia and Holesky's upgrades go well, Denkun will be scheduled on the next Ethereum mainnet,” the post reads, Seppolia will be launched on January 30th, and Holesky will be on the testnet on February 7th.

These additional steps are among the last to make Ethereum faster and cheaper, developers promise.

Ethereum, the blockchain behind the second largest cryptocurrency by market cap, ETH, has a notoriously closed network.

This makes it difficult and expensive for people who want to build apps or send money.

But the people behind the technology say the new update will solve the network's scaling problem.

Dubbed proto-danksharding (or EIP-4844), one aspect of the upgrade is that the network can handle more than 100,000 transactions per second more cheaply.

It does this by making Ethereum layer-2 solutions like Optimum much cheaper, developers say.

Layer-2 solutions on Ethereum are where the majority of Ethereum activity takes place, reports market intelligence firm Messari He said he deserved it. In October. They are parallel to the main network so transactions can essentially zip around the Ethereum blockchain very quickly.

Ethereum is constantly evolving. Especially in the year By 2022, the network has transitioned from proof-of-work to proof-of-work with many known updates. “The Combination”

Edited by Ryan Ozawa.