Ethereum Developers Unveil Exciting Changes In ‘Dencun’ Upgrade
Key Points:
- Ethereum developers finalize Dencun upgrade with five EIPs to reduce fees and add more storage for data, including proto-danksharding.
- The EIPs prioritized to reduce fees are EIP-1153, EIP-4788, and EIP-6780.
- The hard fork is expected to go live by the end of 2023.
Ethereum developers agreed on the full scope of the Dencun upgrade, which is expected later this year.
This upgrade involves five Ethereum Improvement Proposals (EIPs) that are designed to add more storage for data and reduce fees. The upgrade is also known as a hard fork.
At the heart of this upgrade is EIP-4844, which is more commonly known as proto-danksharding. This feature will scale the blockchain by making more space for “blobs” of data, which is expected to decrease gas fees for layer 2 rollups.
One of the other EIPs that made the cut is EIP-1153. This proposal reduces fees for storing data on-chain, which can improve blockspace. Additionally, EIP-4788 improves designs for bridges and staking pools. EIP-5656 adds minor code changes related to the Ethereum Virtual Machine, while EIP-6780 eliminates code that could terminate smart contracts.
During the All Core Developers Execution Layer 163 call, Tim Beiko, the protocol support lead at the Ethereum Foundation, announced that they will not add anything else to the fork. Although there is no exact date for when the hard fork will occur, it is expected to go live by the end of 2023.
Dencun includes simultaneous upgrades happening on the two sides of the blockchain. The Cancun upgrade will take place on the execution layer, where all protocol rules reside. Meanwhile, the consensus layer, which ensures that blocks are validated, will go through its own fork known as Deneb. The name “Dencun” is a portmanteau of the names of the simultaneous upgrades.
DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.
Join us to keep track of news: https://linktr.ee/coincu
Annie
Coincu News
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Ethereum
Ethereum Developers Unveil Exciting Changes In ‘Dencun’ Upgrade
Key Points:
- Ethereum developers finalize Dencun upgrade with five EIPs to reduce fees and add more storage for data, including proto-danksharding.
- The EIPs prioritized to reduce fees are EIP-1153, EIP-4788, and EIP-6780.
- The hard fork is expected to go live by the end of 2023.
Ethereum developers agreed on the full scope of the Dencun upgrade, which is expected later this year.
This upgrade involves five Ethereum Improvement Proposals (EIPs) that are designed to add more storage for data and reduce fees. The upgrade is also known as a hard fork.
At the heart of this upgrade is EIP-4844, which is more commonly known as proto-danksharding. This feature will scale the blockchain by making more space for “blobs” of data, which is expected to decrease gas fees for layer 2 rollups.
One of the other EIPs that made the cut is EIP-1153. This proposal reduces fees for storing data on-chain, which can improve blockspace. Additionally, EIP-4788 improves designs for bridges and staking pools. EIP-5656 adds minor code changes related to the Ethereum Virtual Machine, while EIP-6780 eliminates code that could terminate smart contracts.
During the All Core Developers Execution Layer 163 call, Tim Beiko, the protocol support lead at the Ethereum Foundation, announced that they will not add anything else to the fork. Although there is no exact date for when the hard fork will occur, it is expected to go live by the end of 2023.
Dencun includes simultaneous upgrades happening on the two sides of the blockchain. The Cancun upgrade will take place on the execution layer, where all protocol rules reside. Meanwhile, the consensus layer, which ensures that blocks are validated, will go through its own fork known as Deneb. The name “Dencun” is a portmanteau of the names of the simultaneous upgrades.
DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.
Join us to keep track of news: https://linktr.ee/coincu
Annie
Coincu News
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