Ethereum Developers Approve Dencun Update Details

Ethereum developers have confirmed the details of a future network upgrade called Dencun (Cancun-Deneb), which is expected this year, during a teleconference.

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/InavGJogQZ

Recap below 👇 https://t.co/bS7UPTHSLx

— timbeiko.eth ☀️ (@TimBeiko) June 8, 2023

A key component of the upgrade will be an Ethereum EIP-4844 improvement proposal known as Proto-Danksharding. The option scales the blockchain by introducing a new type of transactions for large arrays of binary data (blobs) and organizing their storage. This is intended to reduce commissions for L2 solutions based on Rollups technology.

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 transaction

Here’s the PR: https://t.co/thdzxRyfvY 😄

— timbeiko.eth ☀️ (@TimBeiko) June 8, 2023

Among other changes, the hard fork includes:

• EIP-1153 – reduces fees for storing on-chain data and optimizes block space;
• EIP-1153 – improves the efficiency of cross-chain bridges and staking pools;
• EIP-5656 – makes minor changes to the Ethereum Virtual Machine;
• EIP-6780 – removes code that can prevent smart contracts from working.

The developers have not determined the exact date of activation of the update. It is expected that this will happen before the end of 2023.

The Dencun upgrade simultaneously includes components for two levels of Ethereum – execution (Cancun) and consensus (Deneb).

Recall that on April 13, the previous hard fork, Shapella (Shanghai-Capella), was implemented in the blockchain. As a result of the update, validators now have the ability to withdraw ETH from staking.

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