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- Ethereum developers have confirmed the complete set of changes for the anticipated ‘Dencun’ upgrade.
- The primary feature of this upgrade is EIP-4844, known as proto-danksharding, designed to enhance storage and decrease fees.
The next stage in Ethereum’s ongoing development is becoming clear as the project’s developers finalize the details for the forthcoming ‘Dencun’ upgrade. In a meeting on Thursday, the team delineated the full extent of the upgrade, also referred to as a hard fork, anticipated to be implemented before 2023 ends.
The upgrade contains five pivotal Ethereum Improvement Proposals (EIPs), aimed at enhancing on-chain data storage and cutting down fees. Central to this transformation is EIP-4844, colloquially referred to as proto-danksharding. This EIP is expected to provide a significant boost to the blockchain’s scalability by carving out more room for data “blobs.” The ensuing effect should be a substantial drop in gas fees for layer 2 rollups, making transactions faster and cheaper.
The additional EIPs chosen to be part of the Dencun upgrade include EIP-1153, which targets lower fees for on-chain data storage and better blockspace optimization. EIP-4788 sets out to refine designs for bridges and staking pools. EIP-5656 proposes minor code changes pertaining to the Ethereum Virtual Machine, and finally, EIP-6780 aims to eliminate code that could potentially lead to the termination of smart contracts.
“We also will not add anything else to the fork,”
announced Tim Beiko, the protocol support lead at the Ethereum Foundation, during the All Core Developers Execution Layer 163 call. Although the exact date for the hard fork is yet to be determined, the target is set for the end of 2023.
‘Dencun’ encapsulates simultaneous upgrades taking place on both layers of the blockchain. The ‘Cancun’ upgrade will occur on the execution layer, where all the protocol rules are implemented, while the consensus layer, responsible for block validation, will undergo a separate fork named ‘Deneb.’ Thus, ‘Dencun’ is a portmanteau, combining the names of these concurrent upgrades.
With the comprehensive scope of the Dencun upgrade now established, the development team can move into the next phase – rigorous testing of the proposed changes. This ensures a smooth transition when the upgrade is finally implemented, improving Ethereum’s functionality and user experience.
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