The upgrade to Cancun will complete the first step of expanding Ethereum L1. Proto Danksharding, also known as EIP-4844, will reduce the transaction cost of L2 by an order of magnitude, and the Layer2Rollup ecosystem will also experience a major explosion
The upgrade to Cancun will complete the first step of expanding Ethereum L1. Proto Danksharding, also known as EIP-4844, will reduce the transaction cost of L2 by an order of magnitude, and the Layer2Rollup ecosystem will also experience a major explosion.
What is the Cancun upgrade? The Cancun upgrade is the next upgrade after the upgrade of Ethereum Shanghai. The reason why it is called the Cancun upgrade is because the Ethereum upgrade convention names the city held by the Ethereum Developer Conference, and the city of the next conference happens to be in Cancun, Mexico. Each upgrade includes several very important proposals aimed at better addressing the three challenges of blockchain and improving performance and user experience.
What is EIP-4844? The purpose of expanding Ethereum is to increase the amount of data processing and accelerate processing speed. EIP-4844 has added the execution logic, validation standards, and cost market required for complete sharding.
What are the opportunities brought by EIP-4844? The first positive aspect of upgrading EIP-4844 in Cancun is the L2 track and related ecology. The expansion and low cost of EIP-4844 will enable rapid growth of various Layer2 projects. Due to the scalability of zkRollup being determined by data availability, the newly introduced Blob transactions enhance data throughput and greatly benefit the ZK ecosystem. Once the data availability issue is resolved, multiple Rollup ecosystems will be the next direction, and the OP ecosystem will become more diverse.
At present, the leaders of Optimistic Rollup are Arbitrum and Optimism. EIP-4844 may provide more opportunities for small and medium-sized Optimistic Rollups, such as Metis, Boba, etc., while ZK series projects such as zksync, zkswap, Aztec, Starknet, etc. may have a richer ecosystem and an increase in user numbers due to the reduction of online costs. At present, the L2 track still leads the OP series and occupies the vast majority of the market, but ZK has huge potential, and its explosive timing may be achieved when Ethereum is fully fragmented.
Secondly, EIP-4844 will benefit the L1 storage expansion network, which is essentially the same solution as existing L2 to improve L1 performance and scalability.
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