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- 1 Dencun to be the following Big Upgrade in the Ethereum blockchain.
- 2 The inclusion of EIP4844 in Dencun will lead to lower gas fees.
- 3 Developers are aiming to make Dencun live by the second half of 2023.
After the successful Shapella Upgrade, which enabled staked ETH withdrawals, Ethereum developers are now on a row, and all set for the next upgrade the Blockchain Platform will go through.
What is Dencun?
The Dencun upgrade derives its name from combining two elements: ‘Deneb’, the first-magnitude star in the constellation Cygnus, and ‘Cancun’, a city in Mexico.
The Dencun update will mark the deployment of several Ethereum Improvement Proposals (EIP), which include EIP-4844, EIP-6780, EIP-1153, and EIP-6475.
EIPs to get incorporated within Network’s code must go through a review process by the Ethereum community and only gets input after receiving approval from the community. The EIPs as mentioned above, are being used under the Dencun layer to enhance Ethereum’s execution layer.
The name is a combination of the two simultaneous upgrades that the blockchain-based platform is going through. The two main layers are getting upgraded in the blockchain. The execution layer, where all protocol rules reside, will undergo the “Cancun” upgrade, while the consensus layer, which ensures that blocks are validated, is known as “Deneb.”
The developers previously named “Shapella” are based on the Shanghai and Capella upgrade. So, following the trend, the developers are referring to “Dencun” based on the two upgrades happening.
EIP4844 is the core of Dencun, also known as “proto-dank sharding”. This particular feature will reduce the fees for layer 2 roll-ups and will scale the blockchain by increasing space for “blobs” of data. EIP4844 would be pushed ahead of Shapella, given that it was too big of a task to include it with the staked ETH withdrawals.
What is EIP4844?
This EIP introduces a new data layer to the Ethereum network, which will serve as an interaction point for both the current consensus layer and the execution layer.
EIP4844 inclusion will also bring “data blobs” into the picture. They will help to tackle the rising transaction costs and will relieve the burden caused by growing block sizes.
This upgrade will help the level 2 roll-ups very efficiently. Due to the smaller size of the blobs, the data retrieval will be much more efficient and quicker. And since these blobs are not stored permanently, it could result in a reduction in gas fees.
Protocol Support Lead at Ethereum, Tim Bieko conducts bi-monthly meetings. This time, he opened the meeting by mentioning that if anyone wants to include some changes with “Cancun”, he can put it in the agenda as he said that they want to keep the scope open.
No dates were revealed on Thursday regarding the timing of the Dencun update, although the developers have said in the past that they are aiming to push it live by the second half of 2023. Before the full scope of Dencun is revealed over the next few weeks the developers are testing out the EIPs before they solidify what other proposals will make it into the next big hard fork.
Andrew is a blockchain developer who developed his interest in cryptocurrencies while pursuing his post-graduation major in blockchain development. He is a keen observer of details and shares his passion for writing, along with coding. His backend knowledge about blockchain helps him give a unique perspective to his writing skills, and a reliable craft at explaining the concepts such as blockchain programming, languages and token minting. He also frequently shares technical details and performance indicators of ICOs and IDOs.
