In a recent scheduled meeting held on June 8th, the Ethereum development team has finalized the key changes that will be implemented in the next major upgrade of the world’s second-largest cryptocurrency network, codenamed Dencun. These enhancements, set to take place in the near future, promise to further strengthen Ethereum’s capabilities and improve user experiences within the crypto ecosystem.
The Dencun upgrade will incorporate several Ethereum Improvement Proposals (EIPs) aimed at optimizing various aspects of the network’s functionality. Let’s take a closer look at the significant changes that will be introduced:
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 transactionHere’s the PR: https://t.co/thdzxRyfvY 😄
— timbeiko.eth ☀️ (@TimBeiko) June 8, 2023
EIP-1153: Transient storage opcodes One of the improvements includes the introduction of transient storage opcodes. This modification will enable data storage that automatically gets deleted at the end of a transaction, resulting in more cost-effective operations for users.
EIP-4788: Beacon block root in the EVM With EIP-4788, Ethereum will integrate the beacon block root into the Ethereum Virtual Machine (EVM). This integration aims to reduce trust assumptions for staking pools, making the network more secure and reliable for participants engaging in staking activities.
EIP-4844: Shard Blob Transactions EIP-4844 brings the addition of Shard Blob Transactions, allowing for efficient storage and deletion of data after a three-week period. This improvement will have a positive impact on the cost-effectiveness of rollup transactions, further enhancing Ethereum’s scalability.
EIP-5656: MCOPY – Memory copying instruction Introducing the MCOPY opcode, EIP-5656 will provide Ethereum developers with a powerful new tool. This instruction will facilitate efficient memory copying operations, streamlining the development process and enabling the creation of more sophisticated decentralized applications.
EIP-6780: SELFDESTRUCT only in the same transaction EIP-6780 proposes the removal of the SELFDESTRUCT function, reducing potential issues and vulnerabilities that can arise from its usage. This change will contribute to a more stable and secure Ethereum ecosystem.
Dencun marks the next major upgrade for Ethereum following the successful Shanghai hard fork that occurred in April 2023, which unlocked the ability to withdraw ETH from Ethereum 2.0 staking contracts.
While the exact timing of the Dencun upgrade is not yet set in stone, it is expected to take place in the fourth quarter of 2023 or, at the latest, early 2024. The Ethereum community eagerly anticipates the release of Dencun and looks forward to the positive impact these improvements will have on the network’s efficiency, security, and overall user experience.
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