Ethereum's 'Cancun' Upgrade Successfully Boosts Scalability and Efficiency

In July 2024, Ethereum successfully completed its "Cancun" network upgrade, aimed at enhancing the network's scalability and transaction efficiency. The Cancun upgrade introduced "DANKsharding" technology, a significant step towards Ethereum's transition to a fully sharded architecture. This technological advancement dramatically increases Ethereum's transactions per second (TPS) and reduces user transaction fees (gas fees). The upgrade provides robust support for the further proliferation of decentralized applications (DApps) and developer innovation. Experts predict that this upgrade will significantly bolster Ethereum's market competitiveness, solidifying its position as the leading smart contract platform.