The Ethereum Cancun upgrade is expected to take place later this year

2023-04-23 08:22:33

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ChainCatcher news reports that during the Ethereum core developers meeting held on Thursday, developers indicated that they are preparing for the next upgrade of Ethereum, which will involve code modifications to the blockchain's consensus layer. This upgrade is referred to as "Cancun-Deneb," and it is expected to take place later this year.

The most significant change anticipated in the Ethereum Cancun upgrade will be Ethereum Improvement Proposal EIP-4844, also known as "proto-danksharding." EIP-4844 aims to enable temporary storage and retrieval of off-chain data through Ethereum nodes to meet the data and storage needs of blockchain applications. If successfully activated, EIP-4844 is expected to reduce transaction costs for Layer 2 solutions, including Optimism and Arbitrum.

Additionally, EIP-4844 has already been tested on four development networks. During the conference call, developers announced that a fifth test network will be launched this Friday. (The Block)

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Cancun-Deneb Cancun Upgrade EIP-4844

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