Ethereum Upgrade 'Dencun' Likely Delayed to 2024
Ethereum's Dencun Upgrade Delay
The Ethereum upgrade, known as Deneb-Cancun or "Dencun," is expected to be postponed until early next year. This upgrade aims to resolve scalability issues within the Ethereum network through the implementation of EIP-4844.
Testing Challenges and Timeline
Concerns arise as the upgrade has yet to be tested on vital public networks like Goerli, Sepolia, and Holesky. Tim Beiko from the Ethereum Foundation highlighted the risks of not conducting these tests before Devconnect, an Ethereum developer conference slated for November 2023. If public testing does not commence by November, the mainnet activation of Dencun is unlikely to occur this year, pushing the timeline to 2024.
Readiness and Testing Phases
The deployment readiness of Dencun depends on the software code's preparedness across Ethereum's execution and consensus layers, alongside the readiness of various client teams. These elements require comprehensive testing on public networks, which may necessitate considerable time. The upgrade is still in its "devnet phase," with only a few months left in the year. Developers have initiated a localized network called "Devnet 9," set to begin testing Dencun before moving into public network testing.
Key Features of the Upgrade
The Dencun upgrade will introduce significant changes across Ethereum’s two main layers: the execution layer, responsible for smart contract execution (dubbed Cancun), and the consensus layer, focused on blockchain consensus through staking (dubbed Deneb). Together, they form the Cancun-Deneb upgrade.
EIP-4844 and Scalability Enhancements
The most awaited feature of this upgrade is EIP-4844, or proto-danksharding, intended to enhance Ethereum's scalability beyond current Layer 2 solutions. This proposal allows Ethereum nodes to temporarily store and retrieve off-chain data, addressing the data and storage needs of blockchain applications. Once implemented, EIP-4844 is expected to lower transaction costs on Layer 2 rollup solutions, such as Optimism and Arbitrum.
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