• Ethereum developers plan to implement the ‘Dencun’ upgrade later this year.
• This upgrade will significantly enhance the efficiency of level 2 roll-ups.
• It also includes a new addition called “Proto-Danksharding” which aims to decrease transaction cost associated with transferring data from Layer 2 (L2) to Layer 1 (L1).
Ethereum Developers Sealing ‚Dencun‘ Upgrade
Ethereum developers plan to implement the ‚Dencun‘ upgrade later this year, aiming to significantly enhance the efficiency of level 2 roll-ups. The main change in pipeline is the implementation of EIP-4844, also known as “Proto-Danksharding”, which intends to reduce transaction cost associated with transferring data from Layer 2 (L2) to Layer 1 (L1).
Improvement Proposals for Upcoming Upgrade
On June 8th, developers on the Ethereum (ETH) blockchain formulated a series of improvement proposals (EIPs) for ‚Dencun‘. These include EIP-1153, EIP-4788, EIP-6780 and EIP-5656. Each of these proposals serves different purposes such as introducing new opcodes for temporary data storage, reducing transaction costs and enhancing safety and effectiveness by eliminating opcodes like SELF-DESTRUCT.
Expected Results After Implementation
The introduction of EIP-4844 is expected to incorporate „data blobs“ which address increasing storage costs incurred by users when they are scaling on L2 networks. This will enable users to save up on transaction fees when using L2 scaling solutions like Optimism and Arbitrum potentially achieving up to 100x reduction in fees.
No Specific Date for Launch
The developers are currently testing all the proposed changes before finalizing which ones will be included in the upcoming major hard fork. However there is no specific date set yet for launching it but they anticipate doing so by end 2023.
The upcoming Dencun upgrade promises significant improvements in terms of scalability and cost savings for users who make use of layer 2 scaling solutions on Ethereum network while providing greater safety features due other minor changes that come along with it.