ETHEREUM'S DENCUN UPGRADE HARD FORK WILL GO LIVE ON FEBRUARY 8🔹

After ETH successfully releases the testnet upgrade on Goerli and Sepolia, this Thursday ETH will go live with the main version.

The Dencun update (known previously as Shanghai/Capella or Ethereum Improvement Proposal (EIP) 4895) is an important step in the evolution of the Ethereum network. Improvements include:

- Withdraw ETH from Beacon Chain: Dencun allows participants staking on Beacon Chain to withdraw their ETH. Previously, ETH was staked to support the transition from Proof of Work (PoW) to non-withdrawable Proof of Stake (PoS). This update opens the door to ETH withdrawals, increasing liquidity and reducing risk for those participating in staking.

- Performance and Scalability Improvements: Performance and scalability improvements help the network process transactions more quickly and efficiently, reducing transaction fees and confirmation times.

- Improvements in data management and structure: Improvements in the way data is managed and stored on the blockchain aim to enhance the security, performance and sustainability of the system.

➡️ In short: the update will help ETH solve its scaling problem and make transaction fees cheaper.