Dencun Upgrade Coming to Polygon zkEVM in April

Dencun Upgrade Coming to Polygon zkEVM in April

Polygon’s zkEVM is set to receive a significant upgrade in April with the implementation of the Dencun upgrade. This upgrade is expected to bring about substantial improvements to the network, particularly in terms of transaction costs and scalability. The Dencun upgrade, featuring the Ethereum Improvement Proposal (EIP) 4844, is poised to enhance the efficiency of the Polygon zkEVM and other layer-2 solutions by introducing ‘blobs’ for more efficient data storage, which is a precursor to the more advanced proto-danksharding and future sharding mechanisms.

Key Takeaways

  • The Dencun upgrade, integrating EIP-4844, is set to significantly reduce transaction fees on Polygon zkEVM, potentially by 2x to 5x.
  • Enhanced scalability and throughput for layer-2 solutions, including Polygon zkEVM, will be a direct result of the Dencun upgrade’s implementation.
  • Polygon is preparing for future blockchain scalability with the Dencun upgrade, laying the groundwork for proto-danksharding and the eventual transition to Polygon 2.0.

The Impact of Dencun Upgrade on Polygon zkEVM

The Impact of Dencun Upgrade on Polygon zkEVM

Reducing Transaction Costs with EIP-4844

The introduction of EIP-4844 is a game-changer for Polygon zkEVM, promising to slash transaction fees significantly. This upgrade introduces Blobspace, a system designed to store and manage large objects for a limited time, offering a more cost-effective alternative to the current Calldata approach.

With EIP-4844, transaction fees are expected to see a reduction of 2x-5x. This means that a transaction costing $1 could potentially drop to as low as $0.20 – $0.50. It’s a substantial saving for users, making transactions on Polygon zkEVM more accessible.

The following table illustrates the estimated impact of EIP-4844 on transaction fees:

Current Fee Estimated Fee Post-EIP-4844
$1.00 $0.20 – $0.50
$2.00 $0.40 – $1.00
$5.00 $1.00 – $2.50

This upgrade is not just about cost savings; it’s also about enhancing the performance and management systems within Polygon zkEVM. By making transaction data available for a reasonable time and price, EIP-4844 is set to improve the overall user experience.

Enhancing Scalability and Throughput

The Dencun upgrade is poised to significantly enhance scalability and throughput for Polygon zkEVM, marking a pivotal step in Ethereum’s evolution. With the introduction of proto-danksharding, the groundwork is laid for a future where blockchain work is fragmented, leading to a more efficient system.

The anticipated increase in capacity is not just theoretical. It is estimated that once all second-level chains update their sequencers, Ethereum could reach the milestone of 100,000 transactions per second (tp/s).

This scalability is not only about handling a higher volume of transactions but also about doing so more cost-effectively. Projections suggest a cost reduction of nearly five times the original price for operations, a testament to the efficiency gains expected from the upgrade.

Preparing for Proto-Danksharding and Future Sharding

The Dencun upgrade is a pivotal step in the evolution of Ethereum’s layer-2 solutions, laying the groundwork for the much-anticipated proto-danksharding. This interim solution paves the way for the eventual full implementation of sharding, which promises to fragment blockchain workloads, thereby enhancing performance and scalability.

Proto-danksharding introduces ‘blobs’, a new data structure designed to store large amounts of information efficiently. This innovation is expected to significantly reduce the costs associated with data storage on layer-2 networks, such as Polygon zkEVM, and benefit data availability protocols by making it more economical to handle vast data volumes.

The Dencun upgrade, while not affecting main layer transaction costs, exclusively benefits layer-2 networks by improving the end-user experience in the Ethereum rollup ecosystem.

The following Ethereum Improvement Proposals (EIPs) are part of the Dencun upgrade, each contributing to the infrastructure enhancements:

  • EIP-1153
  • EIP-4788
  • EIP-5656
  • EIP-6780
  • EIP-7044
  • EIP-7045
  • EIP-7514
  • EIP-7516

As we transition towards a more scalable Ethereum network, the Dencun upgrade marks a significant milestone, offering a glimpse into the future where sharding will revolutionize the way blockchain networks operate.

Polygon’s Strategic Developments Alongside Dencun

Polygon's Strategic Developments Alongside Dencun

Integrating EIP-4844 on zkEVM Testnet

The integration of EIP-4844 proposals on the Polygon zkEVM testnet marks a significant step towards reducing transaction costs and enhancing network scalability. Testing is set to commence in April, paving the way for the Feijoa upgrade to bring these improvements to the mainnet.

The anticipated reduction in transaction fees by 2x-5x post-Dencun Upgrade is a testament to the efficiency gains expected from EIP-4844. This proposal introduces Blobspace for managing large binary objects, which is crucial for optimizing call data expenses.

Following the testnet phase, a 10-day timelock standard is required before the changes can be propagated to the mainnet. This procedural step ensures stability and security during the transition. The integration of EIP-4844 is a precursor to the broader ambitions of Polygon 2.0, which includes a token swap from MATIC to POL to unify the ecosystem.

The Transition to Polygon 2.0 and Token Swap

As Polygon advances its technological infrastructure, a pivotal transition is on the horizon with the introduction of Polygon 2.0. This significant upgrade is set to redefine the ecosystem by converting the current native token, MATIC, to a new token, POL. The token swap is a strategic move aimed at unifying the platform’s diverse functionalities, streamlining governance, and enhancing the utility of the token within the ecosystem.

The process of token conversion will be critical for users and investors, as it will involve specific steps to ensure a smooth transition. Here’s a brief overview of what to expect:

  • Announcement of the token swap details and timeline
  • Instructions for token holders on how to participate in the swap
  • Implementation of the swap through a smart contract or designated platform

The token swap is designed to be a seamless process for MATIC holders, with the goal of minimal disruption to the network’s operations.

Following the token swap, the unified POL token will serve as the cornerstone for transactions and governance across the entire Polygon ecosystem. The transition to Polygon 2.0, coupled with the Dencun upgrade, positions the network for a future of increased scalability, efficiency, and interoperability.

Timeline for Dencun and Subsequent Upgrades

The Dencun Upgrade, a combination of the Deneb and Cancun upgrades, marks a significant milestone in Ethereum’s evolution, particularly for the Polygon zkEVM. The upgrade is set to roll out in April 2023, following the Shapella update that initiated the unstaking process from the Beacon Chain.

Subsequent to the Dencun Upgrade, the Ethereum roadmap includes The Scourge, slated for March 2024, which focuses on censorship resistance, decentralization, and MEV-related protocol risks. This progression underscores Ethereum’s commitment to continuous improvement and innovation.

The Dencun Upgrade not only enhances scalability and security but also sets the stage for proto-danksharding, a precursor to the more comprehensive sharding mechanism.

Here is a brief timeline of the key upgrades:

  • Sep 2022: Shanghai Upgrade – Introduced staking withdrawals.
  • Apr 2023: Dencun Upgrade – Enhances scalability and introduces proto-danksharding.
  • Mar 2024: The Scourge – Targets censorship resistance and decentralization.

The community eagerly anticipates the benefits these upgrades will bring, particularly in terms of reduced transaction costs and increased throughput for Layer 2 networks.

Frequently Asked Questions

What is the Dencun upgrade and how will it affect Polygon zkEVM?

The Dencun upgrade is a significant update to the Ethereum blockchain that introduces improvements such as proto-danksharding and EIP-4844. For Polygon zkEVM, it will bring benefits like reduced transaction fees and enhanced scalability by leveraging efficient data storage through ‘blobs’.

When is the Dencun upgrade expected to hit the Polygon zkEVM testnet?

The Dencun upgrade is scheduled to hit the Polygon zkEVM testnet in April 2024, with the Feijoa upgrade bringing these changes to the mainnet approximately a month later.

What changes will Polygon 2.0 bring, and how does the token swap fit into this upgrade?

Polygon 2.0 is focused on further scalability efforts and ecosystem unification. A key component of this upgrade is the token swap from MATIC to POL, which aims to serve as the medium of exchange and governance across the entire Polygon ecosystem.

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