Discover everything about Ethereum's significant upgrade "Dencun" in this detailed guide. Learn about its components, like Proto-Danksharding, its impact on transaction fees, and the anticipated dates for its testnet and mainnet launches.
Stay informed about how this upgrade aims to revolutionize Ethereum's performance and user experience.
Contents
What is Dencun? - The Next Big Step for Ethereum
"Dencun" is the name given to a significant upgrade planned for Ethereum in 2024, also known as "Cancun-Deneb".
Cancun refers to the upgrade of the execution layer, while Deneb indicates the upgrade of the consensus layer. The simultaneous execution of these upgrades has led to the name "Dencun".
The primary goal of the Dencun upgrade is to enhance the scalability, efficiency, and security of the blockchain.
It notably aims to reduce transaction costs associated with data transfer from Layer 2 (L2) to Layer 1 (L1), thereby significantly lowering L2 transaction fees.
Initially scheduled for the end of 2023, this major upgrade was postponed and is currently set for implementation in 2024.
Detailed Insights into the Dencun Upgrade
The Dencun upgrade encompasses several Ethereum Improvement Proposals (EIPs), with "EIP-4844: Proto-Danksharding" being a notable example.
Proto-Danksharding is an interim step towards a technical upgrade known as Danksharding, both aimed at minimizing transaction costs on L2.
With Danksharding, L2 rollup networks can temporarily store certain transaction data using a new format called "BLOB", significantly reducing users' L2 rollup usage.
Ethereum's L2 solutions like Arbitrum, Optimism, zkSync, and Base could see their transaction fees reduced by up to 99% with Danksharding.
Reported Ethereum Improvement Proposals (EIPs) included in the Dencun upgrade are as follows:
- EIP-1153: Introduces a temporary data storage system to decrease storage costs and increase network efficiency.
- EIP-4788: Adds "Beacon Chain Block Root" data in the execution layer and makes it public in the Ethereum Virtual Machine (EVM), enabling proof of values contained in the state of Beacon Chain blocks, like staking balances.
- EIP-4844: Implements Proto-Danksharding and introduces BLOB to reduce L2 transaction fees.
- EIP-5656: Introduces a new EVM copy code, MCOPY, providing a simpler and cheaper method to copy memory within the EVM.
- EIP-6780: Updates SELFDESTRUCT opcode to delete contracts only if the opcode is called within the same transaction as the contract creation.
- EIP-7044: Removes restrictions on the validity of validator exit messages.
- EIP-7045: Extends the period during which attestation proofs can be included in Beacon Chain blocks.
- EIP-7514: Adds a hard cap on the number of validators that can be activated in each epoch.
- EIP-7516: Introduces a new opcode, BLOBBASEFEE, which returns the value of the base fee for BLOB in the current block.
Key Benefits of the Dencun Upgrade
The Dencun upgrade is expected to bring several major advantages:
- Enhanced scalability
- Reduced gas fees (transaction fees)
- Improved security
- Better interoperability with L2 solutions
- Advances in data storage
- Promotion of development and innovation in L2 solutions
Implementation Dates for Dencun
While the mainnet implementation date for Dencun is not confirmed at the time of writing, regular updates are provided in developers' meetings regarding its testnet implementation.
As of January 9, 2024, the reported testnet implementation dates for Dencun are as follows:
| Testnet | Implementation Date |
|---|---|
| Goerli | January 17, 2024 |
| Sepolia | anuary 30, 2024 (Tentative) |
| Holesky | February 7, 2024 (Tentative) |
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