A decentralized crypto exchange plans to upgrade to a new version after Ethereum’s (ETH) Dencun update rolls out in March.
In a new announcement, The Uniswap Foundation, the team behind digital asset exchange Uniswap (UNI), says the fourth version of the protocol will launch sometime in the third quarter of 2024, according to a shared launch roadmap.
“Phase 1: Code freeze (in progress), core code completion, testing, gas optimizations, security improvements, and peripheral finalization.
Phase 2: Auditing and extensive testnet audit by multiple accounting firms and a community audit competition. At the same time, v4 will be deployed to testnet and final adjustments will be made to the code.
Phase 3: Launch Push v4 will be pushed to Mainnet ETH in Q3.”
UNI is trading at $7.40 at the time of writing, a gain of 1.34% over the last 24 hours.
Dencun, a merger of Cancun and Deneb, represents two separate upgrades happening simultaneously for the leading smart contract platform – one for the execution layer and another for the consensus layer, according to a article written in October by blockchain software company Consensys.
“With the upcoming Cancun-Deneb upgrade, there is a clear focus on improving Ethereum’s scalability by creating ‘data blobs’: a new transaction type intended to scale data availability for Layer 2 (L2) rollups …
The Ethereum network is divided into two main layers: the execution layer and the consensus layer. Prior to the Bellatrix upgrade – often described as ‘The Merge’ – Ethereum’s Consensus Layer and Execution Layer worked independently of each other. In our post-merger world, these two run parallel…
Each Ethereum layer undergoes separate upgrades, but the customer teams for each layer synchronize the timing of each Ethereum hard fork. Although the upcoming Cancun and Deneb upgrades are technically different, they will therefore be implemented simultaneously.”
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Featured image: Shutterstock/Klerka/Voar CC