Starknet anticipates significant impact from Ethereum’s Dencun hard fork

cyptouser8 months agoCryptocurrencies News131
b98df8a0>

Layer-2 scaling protocol Starknet aims to double the impact of lowered costs for rollups after Ethereum’s latest hard fork, Dencun, takes effect on March 13.

The Starknet Foundation announced the rollout of additional fee-saving initiatives on its protocol that will coincide with the Dencun upgrade. The hard fork is arguably the most significant upgrade to Ethereum’s protocol since its shift to proof-of-stake consensus in October 2022.

Dencun includes Ethereum improvement proposal (EIP-4844), which changes how Ethereum rollups store data on mainnet. Several layer-2 rollups aggregate and process transactions off-chain and submit a summary proof of these transactions to the Ethereum blockchain.

Related: Make Ethereum cheap again: ‘Blobs’ to be launched via Dencun upgrade on March 13

EIP-4844 creates a new way for rollups to add cheaper data to blocks by introducing blob space as a replacement for using call data for storage. Using call data to store cryptographic proofs of off-chain bundled transactions has been historically expensive because all Ethereum nodes must process the data that lives on-chain indefinitely.

Proto-danksharding, named after the researchers who proposed EIP-4844, allows rollups to send and attach data blobs to blocks. The data is not accessible to the Ethereum Virtual Machine and is deleted automatically after a fixed period of 18 days.

Polygon Labs’ vice president of product, David Silverman, previously told Cointelegraph that the blog space is drastically cheaper for rollups and provides the same security guarantees.

Starknet expects immediate reduction in fees

Ecosystem developers anticipate that there might be a delay in the realization of the fee reductions by layer-2s in the coming weeks as rollups carry out governance and upgrade procedures to change their contracts — moving from pointing to call data to point to the new blob space.

The Starknet Foundation has announced a hard fork dedicated upgrade set to coincide with Dencun. Starknet version 0.13.1 will transition away from the “expensive” call data method for sending data to Ethereum to the more cost-effective “blobs” transaction type, significantly reducing fees.

The layer 2 expects to benefit significantly due to the fact that call data accounts for nearly 90% of the gas fees Starknet pays to post transactions to the Ethereum mainnet.

Related: More TPS, less gas: Ethereum L2 Starknet outlines performance upgrades

StarkWare product manager and blockchain researcher Ilia Volokh tells Cointelegraph that Starknet’s shared prover (SHARP), which sends Starknet’s state diffs to Ethereum as call data, will shift to blob space. State diffs contain information about every contract storage that was updated and additional information on contract deployments.

Volokh expects to see accurate statistics reflecting fee reduction within an hour of Dencun’s implementation. Meanwhile, the full benefits will be immediately reflected to users, Volokh said:

“A byte of data will be priced in accordance with Ethereum’s blob prices.”

Starknet’s SHARP prover makes use of recursive proof technology that essentially bundles previous proofs into batches called trains. A new hash system introduced in early 2024 will allow the trains to increase the amount of transactions they can carry and ramp up the protocol’s efficiency.

Magazine: Is measuring blockchain transactions per second (TPS) stupid in 2024? Big Questions

The content on this website comes from the Internet. Due to the inconvenience of proofreading the authenticity and accuracy of the copyright or content of some content, it may be temporarily impossible to confirm the authenticity and accuracy of the copyright or content. For copyright issues or other issues caused by this, please Call or email this site. It will be deleted or changed immediately after verification.

related articles

Roger Ver arrested in Spain after DOJ files tax fraud charges in the US

The US Department of Justice (DOJ) announced criminal charges against Roger Ver alongside his arrest...

Ledger finally ships Stax hardware wallet after months of delays

Ledger finally ships Stax hardware wallet after months of delays

55966e89˃ Ledger has begun shipping its new Ledger Stax hardware wallet to customers who pre-ordered...

Arkansas bills reining in crypto miners head for governor approval

55966e89˃Two bills regulating crypto mining in the American state of Arkansas have fully passed the...

Jamie Dimon praises AI tech, saying JP Morgan could use it in 'every single process'

Jamie Dimon, the CEO of JP Morgan Chase, praised various applications for artificial intellige...

Visa Token Service reaches 1 billion tokens served in Asia-Pacific market

25cc9d4a˃Visa announced on March 26 that its payment services in the Asia-Pacific region have served...

Bankrupt Mt. Gox repayment plan seemingly set in motion nearly a decade after hack

The trustee of bankrupt Mt. Gox will begin repaying the firm’s creditors in cash shortly, acco...