Ethereum

Scope

<a target="_blank" href="https://tokeninsight.com/en/coins/ethereum/overview">Ethereum</a> 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:<ul><li><a rel="noopener noreferrer nofollow" target="_blank" href="https://eips.ethereum.org/EIPS/eip-1153">EIP-1153</a> - to reduce fees for storing data on-chain, and therefore improve blockspace.</li><li><a rel="noopener noreferrer nofollow" target="_blank" href="https://eips.ethereum.org/EIPS/eip-4788">EIP-4788</a> - to improve designs for bridges and staking pools.</li><li><a rel="noopener noreferrer nofollow" target="_blank" href="https://eips.ethereum.org/EIPS/eip-5656">EIP-5656</a> - to add minor code changes related to the Ethereum Virtual Machine.</li><li><a rel="noopener noreferrer nofollow" target="_blank" href="https://eips.ethereum.org/EIPS/eip-6780">EIP-6780</a> - to get rid of code that could terminate smart contracts.</li></ul>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.&nbsp;<a target="_blank" href="https://tokeninsight.com/en/cryptocurrencies">TokenInsight</a> is dedicated to covering the most important and cutting-edge trends in the world of crypto. If you have information to share with us, please feel free to contact our email <a href="mailto:news@tokeninsight.com">news@tokeninsight.com</a>. Your trust will be well respected.

Ethereum Next Major Upgrade “Dencun” Scope Finalized

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