Optimism gears up for Ethereum Dencun upgrade with these steps

Optimism gears up for Ethereum Dencun upgrade with these steps

January 27, 2024

Edited By: Ann Maria Shibu

Optimism implements a hardfork in preparation for Dencun.

EIP-4844 will bring reduced transaction fees on the network.

The Ethereum [ETH] Dencun upgrade is approaching, and Layer 2 solutions such as Optimism [OP] have expressed readiness for this upcoming development. The upgrade is set to impact the fees on Optimism, but what other changes can be expected?

Optimism set for Dencun activation

Optimism recently shared a post on X (formerly Twitter), announcing the arrival of 4844. Although the post may seem cryptic initially, further examination revealed that it alluded to the network’s adoption of the latest Ethereum Improvement Proposal (EIP).

This upgrade is part of the preparations for the upcoming Ethereum Dencun upgrade.

Optimism has successfully implemented the Ecotone hardfork on its Goerli development networks. It has enabled the submission of batches through EIP-4844 blobs.

This suggests that once Dencun is activated on the Ethereum mainnet, OP Stack chains will be able to leverage blob space, leading to reductions in transaction fees.