Category: NFT News

Beyond Blobs: Diving Into Dencun’s Overlooked Upgrades

By Published On: March 14, 20245.3 min readViews: 1720 Comments on Beyond Blobs: Diving Into Dencun’s Overlooked Upgrades

In addition to EIP-4844, Dencun also introduced significant upgrades bolstering block space efficiency, user security, and network validation.

Ethereum’s long-awaited Dencun hard fork went off without a hitch on March 13, ushering in a new era for Layer 2 scalability. But while all eyes were on the upgrade that reduced transaction costs for the chain’s scaling networks, there were many other key Ethereum Improvement Proposals (EIPs).

“[Dencun] might be the single fork where we ship the most individual EIPs or features,” said Tim Beiko, an Ethereum Foundation developer, during a March 13 live stream.

The main upgrade included in the Dencun fork was EIP-4844, also known as proto-danksharding, which significantly reduces fees on Ethereum Layer 2 networks by replacing gas-intensive calldata — which previously accounted for between 70% and 90% of L2 transaction costs — with lightweight binary large objects (blobs).

Data from GrowThePie shows that average transaction fees on Starknet, a Layer 2 network that implemented support for EIP-4844 prior to Dencun’s activation, dropped 96% to just $0.04 in the past 24 hours from $0.75 on March 13 — indicating Dencun has been a resounding success in bringing down transaction costs on Layer 2.