Ethereum is a decentralized computing platform that supports digital currencies, global payments, and applications. Ethereum's vision is to become an open, permissionless, decentralized global computer that provides a foundation for human freedom and innovation. However, Ethereum currently faces some challenges, such as slow transaction speeds, high fees, and poor scalability. To address these issues, Ethereum is undergoing a series of upgrades to improve its performance and security and prepare for future development.

Recently, an important upgrade of Ethereum, Dencun upgrade, has been launched on the Goerli testnet. This is an upgrade that provides more space and efficiency for Ethereum layer 2 transactions. This article will introduce the content, significance and impact of Dencun upgrade to help readers understand the latest developments and prospects of Ethereum.

What are Dencun Upgrades?

Dencun upgrade is an upgrade of Ethereum's execution layer and consensus layer, including multiple improvement proposals, such as EIP-4844, EIP-1153, EIP-6780, EIP-4788, EIP-5656 and EIP-7516, etc. These improvement proposals involve Ethereum's transaction format, operation code, storage, verifier, signature and other aspects, aiming to improve Ethereum's scalability, security and sustainability.

The core of the Dencun upgrade is EIP-4844, also known as Proto-Danksharding or Shard Blob Transactions. This proposal introduces a new type of transaction, called Blob transactions, which can store more data without being limited by Calldata like ordinary transactions. Blob transactions are mainly used to store data for second-layer transactions, such as Rollups, which can reduce the cost of second-layer transactions and increase the throughput of second-layer transactions. The data of Blob transactions will be automatically deleted after a certain period of time and will not permanently occupy Ethereum's storage space.

The Dencun upgrade also includes a number of other improvements, such as:

EIP-1153: Add transient storage opcodes for reading and writing temporary data within blocks, reducing storage costs and gas consumption.

EIP-6780: Modify the functionality of the SELFDESTRUCT opcode so that it can only be used in the same transaction, preparing for the introduction of Verkle Tree in the future.

EIP-4788: Modify the Gas calculation method of the SLOAD opcode so that it is proportional to the amount of storage used to prevent abuse and waste of storage.

EIP-5656: Modify the validator's exit mechanism so that it can voluntarily exit at any time without waiting for the minimum exit delay, thereby increasing the flexibility of the validator.

EIP-7516: Modify the growth rate of the number of validators so that it is inversely proportional to the block time of the beacon chain, keep the number of validators within a reasonable range, and improve the security of the network.

The Dencun upgrade is an important milestone in the Ethereum upgrade roadmap. It prepares for Ethereum's future sharding and data availability sampling, and also opens up new space and efficiency for Ethereum's second-layer transactions.

How will the Dencun upgrade affect the network?

The Dencun upgrade will have some positive impacts on the Ethereum network, mainly in the following aspects:

Reduce the cost of second-layer transactions: Since Blob transactions can store more data and do not need to be permanently saved, the data availability cost of second-layer transactions will be greatly reduced, thereby reducing the total cost of second-layer transactions. According to estimates by Ethereum researchers, after the Dencun upgrade, the cost of second-layer transactions will be reduced by about 90%, which will make second-layer transactions more economical and feasible.

Improve the throughput of Layer 2 transactions: Since Blob transactions can store more data and do not occupy Calldata space, the data throughput of Layer 2 transactions will be greatly improved, thereby improving the speed and efficiency of Layer 2 transactions. According to estimates by Ethereum researchers, after the Dencun upgrade, the throughput of Layer 2 transactions will increase by 2 to 40 times, which will make Layer 2 transactions faster and more flexible.

Optimized data management: Since the data of Blob transactions will be automatically deleted after a certain period of time and will not permanently occupy Ethereum's storage space, Ethereum's data management will be more optimized and efficient, and there will be no accumulation and waste of data. This will reduce Ethereum's storage costs, improve performance, and enhance sustainability.

Enhanced network security: Since the Dencun upgrade also includes some other improvements, such as modifying the exit mechanism and growth rate of validators, the security of the Ethereum network will be enhanced, and there will be no excessive exit or excessive growth of validators, maintaining the stability and balance of the network.

Impact of Dencun upgrade on market conditions

The impact of Dencun upgrade on the market may be two-way, with both favorable and unfavorable factors, as follows:

Positive factors: The Dencun upgrade will improve the scalability and security of Ethereum, and provide more space and efficiency for second-layer transactions, which will enhance the user experience and competitiveness of Ethereum, attract more users and developers to use Ethereum, increase the demand and value of Ethereum, and drive up the price of Ethereum. In addition, the Dencun upgrade will also prepare for Ethereum's future sharding and data availability sampling, demonstrate Ethereum's potential for innovation and development, and increase Ethereum's confidence and reputation. In addition, the Dencun upgrade will provide more space and efficiency for Ethereum's second-layer transactions, which will stimulate more innovation and development, bring more diversity and vitality to the Ethereum ecosystem, enhance Ethereum's innovation, and increase Ethereum's demand and value.

Negative factors: Dencun upgrade may also bring some adverse effects, such as network instability, user discomfort, intensified competition, etc. Since Dencun upgrade involves changes in multiple aspects of Ethereum, it may cause some technical problems or errors, affecting the normal operation of the network. In addition, since Dencun upgrade introduces a new transaction type, Blob transaction, users may need a certain amount of time and learning cost to adapt to this new transaction method, affecting user experience and trust. In addition, since Dencun upgrade provides more space and efficiency for second-layer transactions, it may stimulate more innovation and development of second-layer transactions, increase the competitive pressure of Ethereum, and affect Ethereum's advantages and status.

Conclusion:

The Dencun upgrade is an important upgrade for Ethereum. It provides more space and efficiency for layer-2 transactions, prepares for Ethereum's future sharding and data availability sampling, and brings more choices and opportunities to Ethereum users and developers. However, the Dencun upgrade is not without risks and challenges. It may bring some problems such as network instability, user discomfort, and intensified competition. The Ethereum community and ecosystem need to work together and collaborate to solve these problems and ensure the development and prosperity of Ethereum.

In short, the Dencun upgrade is an innovation and progress of Ethereum. It will have some positive and negative effects on the Ethereum network, market and ecology. Investors and developers should fully understand and evaluate these effects, do their own research and judgment, and do not blindly follow the trend or speculate. #TrendingTopic #Dencun升级