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What is Ethereum Upgrade?
Just like all systems, apps or software, Ethereum undergoes upgrades regularly in order to enhance its security, functionality and scalability. In 2020, Ethereum successfully transformed from version 1.0 to 2.0 with the launch of Beacon Chain Genesis. The recent launch of the Dencun Upgrade in March 2024 showcases the dedication of Ethereum to providing a better network.

Previous Major Upgrades:
Since the launch of Ethereum in 2015, it has undergone several major upgrades, including:

• Byzantium Upgrade(October 16, 2017): Block mining rewards reduced from 5 ETH to 3 ETH
• Beacon Chain Genesis (Dec 1, 2020): The first step of implementing proof-of-stake (PoS)
• London Upgrade (August 5, 2021): The introduction of Ethereum Improvement Proposal (EIP) 1559 fee structure changed the way transaction fee calculated
• Paris Upgrade, aka. The Merge (September 15, 2022): From proof-of-work mining algorithm to proof-of-stake.
  

Latest Upgrade
Dencun Upgrade aka. Cancun-Deneb (March 11, 2024) introduced EIP-4844. By implementing proto-danksharding, it allows higher transaction throughput and lower gas fee, bringing a more efficient and scalable platform to users.