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Ethereum Devs Discuss Dencun Upgrade and EVM Object Format

On October 12, Ethereum developers convened over Zoom for the All Core Developers Execution (ACDE) Call #172, led by the Ethereum Foundation’s Protocol Support Lead, Tim Beiko. These bi-weekly discussions focus on the execution layer (EL) enhancements of Ethereum. The focal points of this session were the Dencun upgrade testing and Ethereum Virtual Machine (EVM) Object Format development.

Dencun Testing Progress

Barnabas Busa, an Ethereum Foundation DevOps Engineer, unveiled several updates concerning Devnet #9, launched on September 29. This devnet boasts a 93% participation rate, implying a substantial consensus among validators. The remaining 7% of non-operational validators primarily include Geth (EL)/Teku (CL) validator nodes. Additionally, there are identified issues with the Erigon (EL)/Prysm (CL) and EthereumJS (EL) client combinations.

The Flashbots team is presently examining an MEV-Boost relay and builder on Devnet #9, with Busa urging more relay and builder operators to get involved for broader MEV infrastructure testing on this devnet. However, blob transactions testing through MEV-Boost builders remains on hold as blobs are either being dropped due to invalidity or other unidentified reasons.

Looking ahead, Devnet #10’s launch is postponed to the following week, with an anticipated testing of the trusted setup file from the EIP 4844 KZG ceremony and a large validator set comprising 330,000 active validators. Yet, the launch of Devnet #10 awaits the resolution of “big questions” surrounding Dencun testing, as shared by Parithosh Jayanthi from the Ethereum Foundation.

EVM Object Format (EOF) Development

The session transitioned to the development of the EVM Object Format (EOF), a bundle of EIPs targeting EVM modifications to distinctly separate code from data and introduce new opcodes. Danno Ferrin, one of the EOF champions, delineated the EOF’s objective to enhance smart contract development efficiency and code security. He presented a comprehensive list of EIPs forming the EOF proposal, emphasizing the goal to have EOF as a core code change in the post-Cancun/Deneb upgrade, dubbed Prague/Electra.

However, the EOF initiative sparked debates among the developers, particularly concerning its timing post the Dencun upgrade, its urgency in comparison to the Verkle upgrade, and the direct benefits versus the complexity it introduces. Notably, some developers underscored the increase in protocol complexity and the potential backwards-compatibility issues with legacy smart contracts that EOF might present.

Furthermore, the discussion delved into EVM governance in the context of an expanding Layer-2 ecosystem and the implications of EOF on it. The discourse also touched upon the growing concern of historical chain data growth, with Lukasz Rozmej suggesting a revisit to code changes like EIP 4444.

The conversation regarding EOF, Verkle, and the upcoming Prague/Electra upgrade is set to continue at Devconnect, with a dedicated call for EVM-like Layer-2 protocols and an EOF Implementor’s Call scheduled for October 18.

Ethereum's Dencun Upgrade: Catalyst for Ecosystem Expansion and Price Surge in 2024

As Ethereum continues to evolve, it stands on the cusp of significant growth in 2024. Analysts, including CryptosRUs Analysis, are bullish about Ethereum’s future, particularly due to the anticipated Dencun Upgrade. This upgrade is expected to be a game-changer for Ethereum’s ecosystem, driving exponential growth through various technical enhancements.

Details of the Dencun Upgrade

Scheduled for early 2024, the Dencun Upgrade represents a pivotal step in Ethereum’s development. Initially planned for late 2023, its launch was shifted to 2024 to address complex engineering aspects. The upgrade is set to undergo its first testnet deployment in January, starting with the Goerli test network. This marks a move towards improving layer 2 rollup efficiency and expanding blockchain scalability.

The Dencun Upgrade focuses on increasing data storage capacity through “proto-danksharding,” a process that is key to Ethereum’s long-term scalability plans. This upgrade will also enhance the performance of bridges and staking protocols, reduce transaction fees, and limit the use of self-destruct operations on smart contracts.

During recent tests, Ethereum demonstrated a 99% participation rate in adopting the changes introduced by the upgrade, and 95% of data “blobs” propagated in less than 2 seconds. These technical achievements underline the potential efficiency gains from the Dencun Upgrade.

Impact on Ethereum’s Ecosystem

The Dencun Upgrade is expected to have a transformative effect on Ethereum’s ecosystem. It will increase data availability for layer-2 rollups via proto-danksharding, leading to reduced transaction costs for users. This will optimize gas fees and improve network security, making Ethereum a more scalable and efficient blockchain.

Goldman Sachs notes that Dencun’s primary impact will be on enhancing Ethereum’s scalability through rollups and setting the stage for future scalability upgrades, including danksharding. This positions Ethereum as a more capable and versatile platform for decentralized applications and smart contracts.

Market Outlook and Predictions

Analysts, including those from CryptosRUs Analysis, forecast a bullish trend for Ethereum in 2024. This optimism is rooted in fundamental factors and technical indicators. The Dencun Upgrade, coupled with the potential approval of a spot ETF for Ethereum, is expected to catalyze significant market growth. CryptosRUs Analysis compares Ethereum’s prospective trajectory with Solana’s recent price action, suggesting a possible bull flag pattern for Ethereum leading into the upgrade.

At the time of writing, Ethereum’s native token, ETH, is trading at $2,315.75, with a recent 4.15% increase. This price movement, along with the high network activity and growth in NFT trades on Ethereum, indicates strong market interest and potential for further appreciation.

Ethereum All Core Developers Execution Call Number 181 Summary

On February 15, 2024, Ethereum’s All Core Developers Execution Call #181 took place, marking a pivotal discussion on the network’s future upgrades, including the mainnet activation of the Dencun upgrade and discussions on various Ethereum Improvement Proposals (EIPs). Chaired by Tim Beiko, Ethereum Foundation Protocol Lead, this bi-weekly meeting series brought together developers to deliberate on changes to the execution layer of Ethereum. Key topics included updates on the Dencun upgrade, retroactive EIPs, and proposals for the upcoming Pectra upgrade.

Dencun and Pectra Upgrades: A Forward Look

The Dencun upgrade is on the horizon, with a shadow fork planned to test the upgrade in a mainnet-like environment. This preparation step, crucial for the smooth roll-out of Dencun, is targeted for completion by February 23, with the mainnet activation date announced for March 13. The upgrade has seen support from Reth, Geth, and Besu client teams, with other teams in the final stages of releasing their versions.

The Pectra upgrade discussions featured a range of EIPs aimed at improving security, efficiency, and usability of the Ethereum network. Notable proposals included EIP 5806, introducing smart contract functionality to externally owned accounts with enhanced security over previous proposals, and EIP 7557, proposing a mechanism to distribute gas costs more equitably across transactions accessing the same smart contract data within the same block.

Retroactive EIPs and Technical Discussions

Retroactive EIPs were also a focal point, with EIP 7610 aiming to amend smart contract creation rules for enhanced simplicity and security, and EIP 7523 proposing to eliminate empty accounts from post-merge networks. These discussions underscore the ongoing efforts to optimize Ethereum’s operational rules and minimize technical debt.

Challenges and Future Directions

The call highlighted challenges such as ensuring Layer-2 rollup readiness for Dencun and addressing concerns around gas calculations and estimations for proposed EIPs. The discussions also paved the way for future considerations, including the potential impact of these upgrades on block builders and validators, and the importance of strategic planning to align with proposed timelines.

Conclusion

Ethereum’s All Core Developers Execution Call #181 underscored the community’s commitment to enhancing the network’s security, efficiency, and scalability through thoughtful and collaborative decision-making. As Ethereum continues to evolve, these discussions play a crucial role in shaping its future, ensuring it remains a robust and adaptable platform for decentralized applications.

Ethereum Core Developers Set Electra Upgrade, Plan Dencun Activation

In a gathering on February 22, 2024, Ethereum’s core developers held their 128th All Core Developers Consensus (ACDC) call. The bi-weekly meeting, chaired by Danny Ryan, an Ethereum Foundation researcher, serves as a collaborative platform for discussing and planning the network’s consensus layer changes.

Electra Upgrade Agendas

Central to the meeting was the Electra upgrade, a concerted effort to refine Ethereum’s infrastructure. Three Ethereum Improvement Proposals (EIPs) were agreed upon for inclusion: EIP 6110, designed to provision validator deposits on-chain; EIP 7002, facilitating execution layer triggerable exits; and EIP 7549, which aims to segregate the committee index from attestations. The developers also considered EIP 7547, related to inclusion lists, which could be included in the Electra upgrade if it meets the criteria for ease of implementation.

Imminent Dencun Upgrade Rollout

All Ethereum clients, barring the Lodestar client, have rolled out their final versions in preparation for the Dencun upgrade. The Ethereum Foundation’s DevOps Engineer, Parithosh Jayanthi, reported the successful launch of the final mainnet shadow fork for Dencun, signaling a stable transition. With the mainnet activation date announced for March 13, 2024, developers are confident in a smooth rollout, further supported by the Flashbots team’s planned release of a Dencun-ready MEV-Boost software update.

Debate Over Issuance Curve Adjustment

The meeting also featured a proposal from EF Researcher Ansgar Dietrichs calling for a 30% reduction in staking rewards issuance. This recommendation stems from concerns about the high staking ratio’s impact on network load, ETH value dilution, and dependency on third-party protocols for security. While the proposal’s technical implementation is straightforward, its ramifications warrant thorough discussion within the community.

Enhancing Light Client Compatibility

The call highlighted Etan Kissling’s proposal to update execution layer serialization formats to Simple Serialize (SSZ), aligning with the consensus layer and bolstering light client development. This initiative is vital for nodes operating with minimal computational resources, ensuring a more inclusive and efficient network.

Conclusion

The ACDC call #128 signifies a proactive approach to Ethereum’s development, with the Electra upgrade shaping to be a critical milestone. The discussions around issuance curve adjustments underscore the community’s focus on sustainable and efficient network economics. As Ethereum continues to evolve, these upgrades and proposals are set to enhance its infrastructure, ensuring its long-term viability as a leading blockchain platform.

Ethereum Mainnet Gears Up for Dencun Upgrade: Lower Fees and Enhanced Efficiency

The Ethereum Foundation’s Protocol Support Team has officially announced the activation of the Dencun network upgrade on the Ethereum mainnet. This long-anticipated upgrade, slated to go live at epoch 269568 on March 13, 2024, at 13:55 UTC, promises to bring significant improvements to the network, including the introduction of ephemeral data blobs and a mechanism known as “protodanksharding.”

A Leap Forward in Scalability and Efficiency

The Dencun upgrade, which follows the previous year’s Shapella upgrade, includes transformative changes to both the consensus and execution layers of Ethereum. Among the most notable is the implementation of EIP-4844, which introduces shard blob transactions designed to reduce Layer 2 (L2) transaction fees. This upgrade represents a crucial step in Ethereum’s ongoing journey to increase scalability and efficiency, ultimately benefiting users and developers alike.

What the Dencun Upgrade Entails

The upgrade encompasses several Ethereum Improvement Proposals (EIPs), including:

EIP-1153: Transient storage opcodes

EIP-4788: Beacon block root in the EVM

EIP-4844: Shard Blob Transactions

EIP-5656: MCOPY – Memory copying instruction

EIP-6780: SELFDESTRUCT only in same transaction

EIP-7044: Perpetually Valid Signed Voluntary Exits

EIP-7045: Increase Max Attestation Inclusion Slot

EIP-7514: Add Max Epoch Churn Limit

EIP-7516: BLOBBASEFEE opcode

The full specifications for these changes are detailed in the respective EIP documents and the deneb folder of the ethereum/consensus-specs repository. Additionally, the upgrade necessitates changes to the Engine API, which facilitates communication between consensus and execution layer nodes.

Client Releases and Upgrade Instructions

The Ethereum Foundation has provided a list of client releases that support the Dencun upgrade on the mainnet, urging node operators and stakers to upgrade their software accordingly. It’s critical for participants to be aware of the risks associated with running a majority client on either the execution or consensus layer and to consider diversifying their client usage.

Implications for Users, Node Operators, and Developers

For the average Ethereum user or Ether holder, no action is needed concerning the upgrade. However, node operators must update their clients to the specified versions to remain compatible with the post-upgrade network. Similarly, stakers must ensure that both their beacon node and validator client are updated. Failure to participate in the upgrade will result in being left on an incompatible chain, unable to send Ether or operate on the updated network.

Application and tooling developers are advised to review the EIPs in the upgrade to assess the impact on their projects. New features and potential backward compatibility implications, particularly with EIP-6780, EIP-7044, and EIP-7514, should be taken into account.

The Significance of “Dencun”

The name “Dencun” combines “Deneb,” a star in the Cygnus constellation, and “Cancun,” the site of Devcon 3, aligning with the convention of naming upgrades after celestial objects and Devcon locations.

The Ethereum Foundation extends thanks to all contributors who played a role in bringing this significant upgrade to fruition, marking another major enhancement to the Ethereum network.