Ethereum Foundation has announced the upcoming Dencun network upgrade that is expected to help reduce transaction costs and introduce new use cases. The Dencun upgrade is a set of Ethereum Improvement Proposals (EIPs) that will undergo review by the Ethereum community and should they be accepted, they will become part of the network’s code.
The major proposed changes include the introduction of EIP-4844, also known as Proto-Danksharding or The Surge, which will introduce temporary “data blobs” that Layer 2 solutions can use to post transaction and proof data instead of CALLDATA, consequently reducing the cost of Layer 2 transactions for users significantly. The deactivation of the SELFDESTRUCT opcode with EIP-6780 will preserve the functionality of SELFDESTRUCT in the creation and erasure of contracts within a single transaction.
Another major change is the introduction of EIP-1153, which will introduce two new opcodes, TSTORE and TLOAD, providing transient storage that will enable several use cases, from re-entry locks to single-transaction ERC20 approvals. Lastly, EIP-6475: SSZ Optionals, is a companion to EIP-4844, ensuring its forward compatibility with future SSZ objects introduced to Ethereum.
While Dencun is an important step in Ethereum’s development, the upgrade is still a work in progress. Client teams have a shortlist of EIPs that may still make it in, among them EIP-2537: Precompile for BLS12-381 curve operations, which has been considered since 2019.
The upgrade follows the recent Shapella upgrade, which took place just three weeks ago. However, the modifications to the EIPs are likely as discussions about the best long-term SSZ formats for transactions continue.
With this upgrade, Ethereum hopes to improve its development ecosystem with cheaper and efficient transactions, making it even more attractive to use cases besides just its primary use as a decentralized finance (DeFi) platform. Regardless, it is important for users to verify facts independently and consult a professional before making any decisions based on this news report.
In conclusion, the Dencun upgrade is set to be a significant development for Ethereum and the crypto space in general. Its impact on transaction costs and enabling additional use cases will be significant, and it will be interesting to see how the upgrade is received by the Ethereum community and its users.
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According to https://beincrypto.com/ethereum-dencun-upgrade-transaction-fees/
The material in this article is written on the basis of another article.