Coming...Great News for all ETH users 2024

GDNP...MVNE

8 Feb 2024

Dencun Ethereum Upgrade: EIP 4844 and more in ETH News

Ethereum, the powerhouse of the crypto world, is gearing up for a significant ETH update called Dencun Ethereum, promising to make using blockchain cheaper and faster. This Ethereum update is a big deal for anyone using ETH, incorporating the much-anticipated EIP-4844 explained in the article. Let’s break down what this means in simple terms and why it’s exciting ETH news for the crypto community.
Following the significant Dencun Ethereum upgrade news, it’s crucial to have the best decentralized crypto exchange and best ETH wallet for an enhanced experience. Guarda Wallet stands out in this regard, offering a secure and user-friendly platform to manage and trade ETH to BTC, ETH to USDT and more efficiently.

What’s the Dencun Upgrade?
The Dencun upgrade, bifurcated into the Ethereum Cancun upgrade and Deneb segments, signifies a leap towards addressing Ethereum’s long-standing challenges. Named after the consensus layer and the execution layer, this ETH upgrade is a precursor to the full-fledged implementation of data sharding. The spotlight shines on proto-danksharding/EIP 4844 explained as a revolutionary proposal aiming to drastically enhance network scalability and reduce gas fees through a novel data handling mechanism in ETH news.
Imagine Ethereum as a busy highway. Over time, this highway has become congested with traffic, leading to delays and higher costs for using it. The Dencun ETH upgrade is like adding new lanes and a fast track to this highway, aimed at easing congestion. Ethereum Cancun upgrade and Deneb focusу on making transactions smoother and more secure within the best Ethereum wallets highlighted in ETH news.

Spotlight on EIP-4844: Making Ethereum Easier on the Wallet
At the heart of the Dencun Ethereum upgrade is a feature called EIP-4844. Think of it as a special pass that allows for a new way to send large amounts of data cheaply. This Ethereum news is crucial because it means doing things on blockchain, like trading tokens with the best ETH wallets or playing blockchain games, could become much cheaper and quicker. To fully appreciate what ETH upgrade with EIP 4844 explained here is, we need to understand the concept of layers in blockchain.
Understanding Layers: L1 and L2 Solutions
To grasp the full impact of EIP 4844 explained in the Ethereum news, it’s essential to understand the interplay between Layer 1 (L1) and Layer 2 (L2) solutions in Ethereum’s architecture.
Layer 1 (L1) is the main Ethereum network, like the foundation of a building. It’s essential but can get overcrowded providing the issue to ETH next upgrade.
Layer 2 (L2) ETH update solutions are built on top of L1 to speed things up and reduce costs, like adding a fast-moving elevator to a building to avoid the stairs’ congestion.
The next Ethereum upgrade with EIP-4844 helps these L2 solutions work even better, making the network more efficient and cheaper to use, especially for ETH wallet users.
Why This Matters for You
The Dencun Ethereum upgrade, including EIP-4844, is set to become a faster and more affordable network providing valuable Ethereum news. This means:
Lower fees: Sending transactions with decentralized crypto exchange apps or interacting with apps won’t cost you as much with the next Ethereum upgrade.
Faster transactions: Your transactions on Ethereum will get processed more quickly, making everything smoother with ETH upgrade.
The roll-out of Dencun and EIP 4844 explained a new era for Ethereum, promising to alleviate some of the network’s most pressing issues. The Ethereum update in Cancun and the Deneb announcement are paving the way for the full implementation of data sharding, according to the latest ETH news.
Getting Ready with Guarda ETH Wallet
As Ethereum news buzzes on this Ethereum update information, finding the best Ethereum wallet is key. Guarda Wallet (https://grd.to/ref/guarda) shines as the best ETH wallet, offering seamless ETH to BTC and ETH to USDT (and more) exchanges on a secure decentralized crypto exchange. With Guarda, users get a free wallet that combines ease of use with robust security, making it ideal for managing Ethereum investments efficiently. As we move closer to this ETH next upgrade chapter, Guarda Wallet is here to help you navigate these changes, making sure you’re ready to take full advantage of what’s to come in the world of crypto.

What is EIP-4844 (The proto-danksharding proposal)?

EIP-4844 — also known as the proto-danksharding proposal — was created by Vitalik Buterin, together with other programmers from the Ethereum ecosystem. The main purpose of EIP-4844 is to reduce gas fees on the network, especially for the rollup solutions, without sacrificing decentralization. Rollup solutions, such as Arbitrum and Optimism, could have reduced gas fees by up to 100 to 1000 times.

EIP-4844 proposal is meant as an interim solution until the Ethereum 2.0 update is complete. The proposal explains a new method to help divide the information needed in a transaction, such as verification rules and the transaction format, without actually implementing any sharding.
The most important feature of EIP-4844 is the blob, which is a new type of transaction. The blob is similar to regular transactions, but it only carries an extra piece of data — called the blob. The pieces of data, or blobs, are large data packages (around 125 KB), but this type of transaction would be cheaper to execute than a calldata with the same data. However, the data stored in a blob is not accessible to the EVM, and it can only see it, but not verify it.
These blobs can be downloaded by validators and users. The data bandwidth, for a slot, in proto-danksharding is limited to 1 MB (instead of 16 MB). This change in the way data is transferred makes a huge difference that addresses the scalability issue that we’re all so familiar with when it comes to Ethereum. By adopting the EIP-4844 proposal, this data from the blobs is not the gas usage for the ordinary Ethereum transactions.

Will EIP-4844 help scale the Ethereum blockchain?
We’ll have to wait for this proposal to become a reality before we can argue about the effects it has on the network. From what it seems, Ethereum rollup protocols will see considerably reduced transaction fees, and this could open up a whole new world for smaller investors and novices.
We are all excited about the upcoming version of the Ethereum blockchain. By the end of 2022, the proof-of-stake (PoS) Ethereum blockchain will be rolled out. Ethereum improvement proposals (EIPs) such as EIP-4844 pave the way to a scalable and efficient network.