Original - Odaily

Author - Azuma

OKX market data shows that since the evening of December 7, Ethereum and Layer 2 sector tokens have experienced general gains.

As of the time of publication, ETH itself is temporarily quoted at 2371 USDT, with a 24-hour increase of 5.5%; OP is currently quoted at $2.17, with a 24-hour increase of 25.4%; ARB is currently quoted at $1.18, with a 24-hour increase of 10.9%; IMX is currently quoted at $1.53, with a 24-hour increase of 10.9%. The increase reached 9.3%; SKALE is now quoted at US$0.045, with a 24-hour increase of 11.7%.

Looking at the market dynamics, the most direct good news comes from the 176th Ethereum Core Developers Executive Meeting (ACDE) held yesterday. According to the summary of timbeiko.eth, the core developer of Ethereum, yesterdays ACDE mainly discussed the status of Dencun upgrade, the schedule of the test network, and how to plan the network upgrade.

The so-called Dencun upgrade is actually a collective name for the two upgrades of Deneb and Cancun. The former focuses on the consensus layer and the latter focuses on the execution layer. Among them, Cancun is the Cancun upgrade that the Layer 2 community has long awaited.

Odaily has reported many times on the specific effects of the Cancun upgrade and its impact on Layer 2. Simply put, the upgrade is expected to significantly improve the data availability of Ethereum, significantly improve Layer 2 network performance and reduce transaction costs.

• Further reading:Cancun Upgrade: Another Milestone After Shanghai；The Cancun upgrade will be a turning point for Ethereum L2。

Previously at the 123rd Ethereum Core Developers Consensus Conference (ACDC) on December 1, developers revealed that Ethereum Devnet #12 had activated the Dencun upgrade on November 30. Teku, Lodestar and Lighthouse, etc. The client software was first tested on Devnet #12.

According to timbeiko.eths summary of yesterdays ACDE, almost all clients except Prysm Ethereum Client have been tested on Devnet #12, and multiple clients including Reth and Lighthouse have also discovered and Some bugs fixed. The Prysm Ethereum Client development team is currently continuing work on blob caching and verification and is expected to join Devnet #12 in the next week or two.

The most important part of yesterdays meeting was that the developers said they were ready for the fork upgrade of the testnet and planned to conduct a large-scale Goerli shadow fork in the next few weeks. If all goes well, the developers expect to set a fork date for the Goerli testnet in early 2024, with plans to activate the Dencun upgrade on the network in January.

Goerli is currently the test network with the second largest number of nodes after the main network. Therefore, activating Dencun on this network also means that the Cancun upgrade that Layer 2s are eagerly awaiting has made a qualitative breakthrough in progress. It is still close to the official launch of the upgrade to the main network. Its getting closer.

From the perspective of the secondary market, the Layer 2 sector, which has been dull for a long time, has caused some ripples with this development. Will this lead to a collective explosion of this sector? 2024 will provide the answer.