The second largest crypto blockchain, Ethereum, is gearing up for a new upgrade that will lower transaction fees on the network. The update labeled “Dencun” will also introduce more use cases for Ethereum.
In particular, the Ethereum Foundation made the advertisement of the Dencun update just three weeks after the Shapella update.
With the upcoming Dencun update, users of the Ethereum network can now transact with lower fees.
Introducing the Dencun Update: What You Need to Know
The next update to Dencun will include Ethereum Improvement Proposals (EIPs). They are proposals that aim to bring changes to the network. Proposals are often reviewed by the Ethereum community to accept or reject them.
If the community accepts the EIPs, they become part of the Ethereum network codes. The Dencun updates have four proposals, including EIP-1153, EIP-6475, EIP-4844, and EIP-6748.
The first proposal is EIP-4844 or Proto-Danksharding or The Surge. The Surge aims to bring “data blobs” for Layer 2 solutions to publish test and transaction data instead of CALLDATA.
Blobs offer lower gas costs as they are never permanently stored on the blockchain. The blob aims to reduce the transaction fee on Ethereum.
Other Dencun proposals bring various changes
The second major proposal for review is EIP-6780. This proposal is to disable the SELFDESTRUCT opcode but still preserve its functionality. The EIP-6780 proposal will allow the creation and deletion of contracts in a single transaction, but will not eliminate the contract code or storage.
The third proposal is EIP-1153 which will bring two new opcodes, TSTORE and TLOAD, to the network. The developers aim to provide transient storage that will be cleared after the transaction ends. This will add more use cases, from re-entry blocks to single-transaction ERC20 approvals.
The fourth proposal is EIP-6475: SSZ Optionals. This change is compatible with EIP-4844 as it defines one of its SSZ elements in the transaction format. The goal is to facilitate future compatibility with SSZ objects that will be introduced to the network.
While the above four proposals remain the main ones, the development team has others that could be considered as well. One of the likely ones is EIP-2537: Precompile for BLS12-381 Curve Operations.
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