Blockchain technology has come a long way, with various upgrades and innovations constantly being introduced to enhance its overall capabilities. One such innovation, set to arrive by the end of 2023, is the Ethereum network’s upcoming upgrade named “Dencun.” This hard fork is expected to bring multiple improvements to the Ethereum blockchain, leading to increased storage for data and reduced fees.
A core aspect of the Dencun upgrade is EIP-4844, popularly known as proto-danksharding. With the implementation of proto-danksharding, the Ethereum blockchain’s capacity to house “blobs” of data will be increased, subsequently contributing to a decrease in gas fees for layer 2 rollups. It is anticipated that this innovative feature will set the stage for significant blockchain scaling.
Other Ethereum Improvement Proposals (EIPs) encompassed within the Dencun upgrade include EIP-1153, EIP-4788, and EIP-6780. EIP-1153 aims to lower the costs associated with storing data on-chain, thus effectively utilizing blockspace. Meanwhile, EIP-4788 targets the enhancement of designs for bridges and staking pools, and EIP-6780 aspires to eliminate any code with the potential to terminate smart contracts.
Tim Beiko, protocol support lead at the Ethereum Foundation, confirmed in the All Core Developers Execution Layer 163 call that no additional features will be added to the Dencun hard fork. With the complete scope of Dencun now established, it paves the way for more thorough testing and implementation.
The Dencun upgrade itself is a portmanteau of two simultaneous upgrades occurring on both sides of the Ethereum blockchain. The “Cancun” upgrade will take place on the execution layer, which houses all protocol rules. At the same time, the consensus layer, responsible for validating blocks, will undergo its own upgrade known as “Deneb.”
Although the Dencun upgrade promises numerous enhancements to the Ethereum network, it is worth noting that potential risks and drawbacks might emerge during the implementation process. It is vital for developers to exercise caution and remain vigilant for any challenges that could arise as the hard fork unfolds.
Imminent upgrades like Dencun, however, fortify the fact that the blockchain realm is consistently evolving, pushing boundaries and unlocking fresh possibilities. For blockchain enthusiasts and the larger crypto community, it is exciting to watch these progressive developments unfold and witness the ongoing transformation of the future of digital interactions.
Source: Coindesk
