The Ethereum blockchain is poised for a significant upgrade with the forthcoming "Cancun-Deneb" (Dencun) enhancement. Scheduled to begin testing on January 17, the upgrade will initially be implemented on the Goerli testnet, followed by rollouts on Sepolia and Holesky testnets on January 30 and February 7, respectively. The mainnet deployment date remains to be announced.
The Dencun upgrade promises several improvements, notably Ethereum Improvement Proposal (EIP) 4844, or "proto-danksharding." This feature will allow layer-2 rollup networks like Arbitrum, Base, and Polygon zkEVM to temporarily store transaction data in a new format called "blobs," which can be deleted after 18 days. This is a shift from the current practice of permanent storage in the CALLDATA field and is expected to significantly reduce transaction fees on layer 2 networks.
Additionally, the upgrade includes EIP-1153, introducing a "transient storage" system to further decrease fees, and EIP-4788, which aims to increase transparency by storing Beacon Chain block roots in a smart contract. These roots can then be accessed by applications, enhancing the potential for new features in bridges and staking pools.
Furthermore, EIP-6780, another key proposal in the Dencun upgrade, seeks to limit the use of the self-destruct keyword in smart contracts. This change will prevent the keyword from erasing the code of a smart contract unless called in the same transaction it was deployed, although it will still allow the transfer of all funds to the deployer in future transactions.
Disclaimer: Please note that the information provided in this article is based on the referenced research articles. It is essential to conduct further research and analysis before making any investment decisions. The cryptocurrency market is highly volatile, and investors should exercise caution and consult with financial professionals before engaging in cryptocurrency trading or investment activities.