Ethereum developers, during a teleconference, approved the details of the upcoming network upgrade named Dencun (Cancun-Deneb), which is expected this year.
Had another @ethereum #ACDE earlier today: we finalized the Cancun EIP list, and discussed possible 4844, Engine API and validator spec changes ?️
Agenda: https://t.co/4vzQUyOftK
Recording: https://t.co/InavGJogQZRecap below ? https://t.co/bS7UPTHSLx
— timbeiko.eth ☀️ (@TimBeiko) June 8, 2023
A key component of the upgrade will be the proposal to improve Ethereum EIP-4844, known as Proto-Danksharding. The option scales the blockchain by introducing a new type of transactions for large blobs of binary data and organizing their storage. This is intended to reduce the fees for L2 solutions based on the technology Rollups.
So, TL;DR Cancun?️ will include:
EIP-1153: Transient storage opcodes
EIP-4788: Beacon block root in the EVM
EIP-4844: Shard Blob Transactions
EIP-5656: MCOPY — Memory copying instruction
EIP-6780: SELFDESTRUCT only in same transactionHere’s the PR: https://t.co/thdzxRyfvY ?
— timbeiko.eth ☀️ (@TimBeiko) June 8, 2023
Among other changes, the hard fork includes:
- EIP-1153 — reduces on-chain data storage fees and optimizes block space;
- EIP-4788 — improves the efficiency of cross-chain bridges and staking pools;
- EIP-5656 — introduces minor changes to the Ethereum Virtual Machine;
- EIP-6780 — removes code that could impede the operation of smart contracts.
Developers have not set a precise activation date for the upgrade. It is expected to occur before the end of 2023.
The Dencun upgrade also includes components for two layers of Ethereum — execution (Cancun) and consensus (Deneb).
In April, the previous hard fork was implemented — Shapella (Shanghai-Capella). As a result, validators were able to withdraw ETH from staking.