The Cancun upgrade will be activated tonight. Which targets will it benefit?
Tonight, the Ethereum community will usher in a long-awaited moment - the Dencun Upgrade will be officially activated. This upgrade is a substantial improvement in technology and will be divided into two parts: Deneb and Cancun.
Deneb focuses on the consensus level of the network, while Cancun, which is what we call the Cancun upgrade, mainly targets the execution level of Ethereum.
It will significantly increase the network's processing speed and capacity, allowing Ethereum to support more applications and users. Enhanced network security and reduced potential attack risks. It reduces users’ transaction costs and improves user experience.
Imagine if you needed to send a package before, you might have to pay high courier fees because all packages had to be sent through the same channel. Now, with Blob transactions, it is like opening up a special fast channel specifically for processing these data-intensive transactions. In this way, not only is the speed faster, but the cost is also greatly reduced.
1: What do we need to do to upgrade Cancun?
Retail investors: Nothing needs to be done.
Non-staking node operators/validators: need to update the node to the client version. Staking node operator/validator: You need to update the node to the client version and ensure that both the beacon node and the validator client are updated.
2: Which projects will directly benefit?
1. All Layer 2 projects. Optimism, Arbitrum, Starknet, Metis, Manta Pacific, etc., these projects that we are already familiar with will see significant cost reductions due to the Cancun upgrade. As well as unissued currency projects such as zkSync, Blast, Linea, and Scroll.
2. Games and social platforms that have high requirements for transaction speed and cost may usher in new growth opportunities.
3. Storage concept projects may also usher in certain development opportunities due to changes in Layer 2’s storage requirements for transaction history. Since Blob does not store data permanently like calldate, this means that Layer 2 needs to find other ways to store historical transaction data for a long time. New needs are new opportunities.
The Cancun upgrade is an important milestone in the development of Ethereum.It will not only directly improve the performance of the Ethereum network, but may also stimulate new vitality in the entire ecosystem and lead Ethereum to a new stage of development.
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