Ethereum developers agreed Thursday on the full scope of the network's upcoming upgrade, called “Dencun.”
The upgrade, expected later this year, includes five Ethereum Improvement Proposals (EIPs) that designed to add more storage for data and reduce fees.
At the heart of this upgrade is EIP-4844, more commonly known as proto-danksharding. This feature will scale the blockchain by making more space for “blobs” of data, which then is expected to decrease gas fees for layer 2 rollups.
The other EIPs included are:
- EIP-1153 - to reduce fees for storing data on-chain, and therefore improve blockspace.
- EIP-4788 - to improve designs for bridges and staking pools.
- EIP-5656 - to add minor code changes related to the Ethereum Virtual Machine.
- EIP-6780 - to get rid of code that could terminate smart contracts.
There's no exact date for when the hard fork will happen, but it's supposed to go live by the end of 2023.
Dencun includes simultaneous upgrades happening on both execution layer and consensus layer of Ethereum.
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