jakiro
Author: Climber, Bitchain Vision Realm
The Ethereum Kankun upgrade is finally coming!
On March 13, according to the official blog of the Ethereum Foundation, Ethereum Cankun was upgraded to EPOCH 69568 on the main network.As another important milestone incident after the upgrade of Shanghai last year, Ethereum is of great significance for the project itself and the entire blockchain industry.
Reporting and research articles on the upgrade of Cancan have been increasing since the upgrade of Shanghai, and the most concerned about investors is that this upgrade will benefit some tracks and projects.To this end, the Bitchain vision system combed multiple value information in this incident for readers’ reference.
Related data performance on the occasion of Ethereum Cancun upgrade
Along with the arrival of Ethereum Cankun, the price of Ethereum TVL and ETH has also reached a phased high.
According to DEFILLAMA data, the current TVL of Ethereum network is about US $ 57.865 billion, a new high since May 2022.
At the same time, Ethereum TVL is the first in the existing 258 chain with 58.13%of the data, and it is still the unbreakable “King of Wan Chain”.In addition, there are as many as 990 agreements on the Ethereum chain.
The price of the Ethereum project token ETH has also risen. Since the $ 1,500 in mid -October last year, it has risen to the current $ 4066, an increase of about 171%.Especially in the past month, ETH has risen significantly, with an increase of about 60%.
Looking back on the upgrade of Shanghai, one month before and after the upgrade of Shanghai, the ETH low was $ 1368.39.Subsequently, it was stimulated by the news to rise to US $ 2141.54, an increase of about 56.57%.But then there have been all the way.
From the perspective of the increase, the two are not much different, but it should be noted that the current crypto market can be described as a bull market.BTC has broken its historical high, and most of the currencies are rising, and ETH, the second place in cryptocurrencies, is not very convinced.
At the same time, the current GAS fee of the Ethereum network is still high, which is a bit discouraged when interacting.According to OKLINK data, since February 20, ETH has a increasing amount of combustion, and it will burn 6K+almost every day, and it is about $ 24.39 million at the current price.
However, it can be seen from the comparison of the data above that even if the Cancun upgrade is completed, the handling fee for its transactions has not been reduced for Ethereum network.
The main content of the Cancun upgrade
The full name of the Cancun upgrade is “Cancun-Deneb”, which is the two upgrades of Cancun and Deneb. The English is referred to as “Dencun”.Among them, Cancun focuses on the expansion of the execution layer, while DeneB focuses on improving the consensus layer of Ethereum.
From the upgrade of the Ethereum border on July 30, 2015, as of today, Ethereum has been upgraded 12 times.
Cankun’s upgrade includes five EIPs, which aims to increase more data storage and reduce costs.The upgrade is centered on EIP-4844. In addition, it also includes four improvement proposals: EIP-1153, EIP-4788, EIP-5656, and EIP-6780.
EIP-4844: As the core of Cankun’s upgrade, EIP-4844 is also calledProto-DankshardingIt is an expansion scheme around Rollup.
Proto-Danksharding is the core upgrade of Dencun, which can reduce the transaction cost of the L2 blockchain and reduce the availability cost, thereby solving the key scalability challenge.This will lay the foundation for the final implementation of “Danksharding” and further expand these benefits.
EIP-4844 is also the first step of Ethereum expansion.Before the upgrade, the Rollup data was permanently stored on Ethereum. Since the storage cost was expensive, 90% of the transaction cost paid by the user for Rollup was due to the storage cost.
To this end, the EIP-4844 introduces a new type of transaction-Blob Transaction, which will be temporarily stored to the “Blob”. The storage time will be about 1 month. After that, the data will be deleted.To store long -term data storage, other service providers are stored according to actual needs.
When Blob becomes part of the Ethereum protocol through Proto-Danksharding, it may add more BLOB to the Ethereum block. At this timeIt will also decrease.
Other selected EIPs include:
EIP-1153: Reduce the cost of storing data on the chain, thereby improving block space.
EIP-4788: Improve the design of cross-chain bridges and equity pools.
EIP-5656: Add secondary code changes related to the Ethereum virtual machine.
EIP-6780: Remove code that may terminate smart contracts.
The main functions of Ethereum Cancun-Deneb upgraded version include:
Enhanced scalability: By implementing native encryption technology (EIP-4844), the upgraded version aims to divide the Ethereum blockchain into smaller parts or “Blobs”.In this way, transactions and smart contracts can be handled in parallel to greatly increase network capacity and reduce transaction costs.
Improvement of security and consensus mechanisms: The upgrading of consensus layers is to strengthen network security and improve the consensus algorithm (POS) consensus algorithm.
Optimize GAS efficiency: Introduce various EIPs, including EIP-1559 (changes in the toll market), EIP-2929 (increased national access GAS cost) and EIP-2537 (BLS curve operation), which aims to improve GAS efficiency and reduce transaction costs.Improve the overall user experience of the network.
Optimized data storage: The implementation of EIP-1153 will bring more efficient blockchain data storage, improve operation, and reduce costs, which will benefit from the second-level solution that simplifies data management.
Enhanced cross-chain function: EIP-4788 aims to improve the ease of use and security of cross-blocking interaction, and support enhancement of the interoperability of the second-level solution.
Overall, the upgrade of Cancun is expected to improve the adaptability, security and user experience of the Ethereum network, consolidate its position in the field of digital assets, and enhance the second -level solution.
Faid track and project
The most significant favorable track of the Ethereum Cankun upgrade incident is the Layer2. The introduction of BLOB has made the transaction cost of L2 a significant decrease, and the TPS has also been improved to a certain extent.
According to L2Beat data, the current Layer2 section has a TVL of about 38.98 billion US dollars, and has increased by 11.08%in the past 7 days. The TVL of multiple star projects has also increased significantly.
At the same time, the Cancun upgrade will also drive the prosperity of the L2 ecological project.Therefore, the heads and popular projects on each L2 chain are worthy of attention.
In addition, the Cancun upgrade will also drive the development of DA, DEFI, LSD, full -chain game, and Infra track. The potential items are as follows:
DA: Ethstorage, Covalent, EIGENDA, Polygon Avail, Caldera, Altlayer, Lumoz, etc.
DEFI: Apex Protocol, AEVO, Vertex Protocol, GMX, Synthetix, GNS.
LSD: lido, Rocketpool, Swell, Eigenlayer, Renzo.
All -chain game: MUD, RedStone, Sky Strife, Loot Survivor, ISSAC, Influence, World Engine, Cardinal.
Infra: Caldera, Altlayer, Lumoz.
Summarize
The arrival of Cancun’s upgrade means that the opening of Ethereum expansion, higher transaction throughput and lower transaction costs will cause more projects on L2 and the influx of users.Sex will also be greatly improved.
From this point of view, the Cancun upgrade is of great significance whether it is Ethereum or L2 network or its chain ecological projects.In the future, the eyes inside and outside the encryption market will probably gather to the Ethereum ecosystem with L2 and L3 as the core. The legend of Ethereum will also be renewed. We might as well wait for this.
