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Ethereum devs pin hopes on Dencun upgrade for ambitious 2024 road map
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Ethereum devs pin hopes on Dencun upgrade for ambitious 2024 road map

Jan 9, 2024

Ethereum’s core developers are considering priorities for a potential hard fork in 2024 or 2025, while maintaining the current schedule for the Dencun fork with a testnet launch on Goerli set for January 17.

“We had tentatively agreed on January 30 and February 7 as dates for Sepolia and Holesky, respectively. We eventually confirmed these dates also, but after some debate,” said X (formerly Twitter) user @lightclients.

Developers now debate whether to focus on a feature-focused set of smaller Ethereum Improvement Proposals (EIPs) or a protocol upgrade to implement Verkle Trees to the execution layer.

Verkle Trees use more sophisticated vector commitments based on elliptic curve pairings in comparison to the previous Merkle Tree. Verkle Trees also use less space and have a faster verification speed, which allows users to make more transactions, compared to Merkle Trees. Some developers argue that Verkle Trees will become the probable solution to the ongoing “state bloat” problem that currently prevents wider usage of Ethereum coins by users.

Importance of Dencun upgrade

The Dencun upgrade marks the start of “The Surge” era in the Ethereum roadmap that focuses on increasing massive scalability for rollups via sharding and EIP specifications with the final goal of hitting 10,000 transactions per second and beyond.

Ethereum will use layer-two rollups to achieve mass scale to set up the foundation for the network. In the process, Ethereum determines the proto-danksharding EIP as the upgrade that would facilitate an ecosystem-wide move to rollups by decreasing gas fees on Ethereum L2s.

If the plan to perform the Goerli test net takes place on January 17, Dencun will move to the Sepolia testnet at the end of January and the Holesky testnet sometime in February 2024. Considering the complexity and gravity of the upgrade, developers said the Dencun ETH upgrade will take some time.

Developers put their hopes on the Cancun upgrade thanks to the several benefits it may bring to the Ethereum ecosystem and network. For example, Cancun’s proto-danksharding and reduced gas fees will ensure Ethereum transactions have temporary storage space and decrease exorbitant gas fees that are common occurrences in Ethereum transactions.

Cancun also promises better data storage and improved cross-chain communication needed for the convenience of the users’ Ethereum transactions.

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