Ethereum Prepares for Dencun Upgrade to Reduce Transaction Fees and Introduce More Use Cases

The Ethereum Foundation has announced the upcoming Dencun upgrade, which will bring significant changes to the network. The main goal of this upgrade is to reduce transaction fees on the Ethereum blockchain while introducing more use cases.

What You Need To Know About Dencun Upgrade

The Dencun upgrade will feature several Ethereum Improvement Proposals (EIPs) that aim to bring changes to the network. These proposals are reviewed by the Ethereum community before being accepted or rejected.

If accepted, these EIPs become a part of the Ethereum network codes. There are four proposals in total: EIP-1153, EIP-6475, EIP-4844, and EIP-6748.

EIP-4844: Proto-Danksharding or The Surge

This proposal aims to introduce “data blobs” for Layer 2 solutions instead of CALLDATA. Data blobs offer lower gas costs since they’re never stored permanently on the blockchain. This change should help lower transaction fees on Ethereum significantly.

EIP-6780: Deactivating SELFDESTRUCT Opcode While Preserving Functionality

This proposal deactivates SELFDESTRUCT opcode but still preserves its functionality allowing creation and erasure of contractsSponsored Product in a single transaction without deleting contract code or storage.

EPI -1153 : TSTORE & TLOAD Opcodes For Transient Storage

This proposal introduces two new opcodes – TSTORE and TLOAD – providing transient storage cleared once transactions end with additional use cases from re-entry locks to single-transactions ERC20 approvals.

EIP -6475 : SSZ Optionals

This proposal supports EIP -4844 by defining one of its SSZ elements in transaction format to facilitate forward compatibility with SSZ objects that will be introduced to the network.

The development team has other proposals under consideration, including EIP -2537 which is a precompile for BLS12 – 381 curve operations. The Dencun upgrade comes just three weeks after the Shapella upgrade and should further improve Ethereum’s functionality while reducing fees.