Ethereum to follow the Paris and Shanghai Upgrade with Cancun

Ethereum recently talked about its focus shifting to the upcoming Cancun upgrade. The network has taken enough time to recover from the Shapella upgrade and is ready to progress.

The latest bi-weekly developer call concluded with a consensus about the Dencun (Cancun-Deneb) upgrade. According to the devs, the upgrade will primarily focus on a rollup-centric roadmap. Ethereum has also named its proto-danksharding, a nickname for EIP 4844.

This upgrade will introduce a new type of transaction called the blob-carrying transaction. It refers to a temporary data storage mechanic that can reduce transaction costs on L2-rollups. A team leader from Ethereum also talked about this development.

According to Peter Szilagyi, the upcoming EIP 4844 should be on everyone’s priority list. At the same time, the rest the team is receiving is nice, too, added Peter.

It was Peter’s idea to make EIP 4844 a priority for Ethereum, even suggesting how it should be prioritized over Shapella. However, the team lead was overruled, but now Peter is ready to get started on proto-danksharding. It was mutually decided on the bi-weekly call that the Cancun upgrade will focus on 4844.

Besides this, Ethereum is also planning on removing its SELFDESTRUCT opcode to create a way for statelessness. This concept goes back to Vitalik Buterin’s post from 2017, where the co-founder talked about “State”.

According to the post, it refers to every key piece of information at one point for the network. This includes all the accounts, their balances, the smart contracts, and their storage. An upgrade in the future should shift accountability for storing the network’s state to archival nodes. 

This will facilitate a larger set of full nodes to store less. It can even allow users to easily run a node, boosting the goal of network decentralization, stated Vitalik Buterin. 

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Uniswap also covered the recent decision by Ethereum to focus on Cancun. The network released a string of tweets to inform users about the upgrade and how it will be deployed. Given how successful Ethereum has been with its upgrades, the community also expects Cancun to be a significant improvement.

Trevor Holman

Trevor Holman follows crypto industry since 2011. He joined CryptoNewsZ as a news writer and he provides technical analysis pieces and current market data. He is also an avid trader. In his free time, he loves to explore unexplored places.

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