php editor Youzi thinks calmly before the Ethereum Dencun upgrade: a short-acting solution to the expansion problem? In the field of cryptocurrency, Ethereum has always attracted much attention, but as transaction volume continues to increase, expansion issues have gradually become apparent. The Dencun upgrade is regarded as a solution, but whether it can permanently solve the expansion problem of Ethereum requires in-depth thinking. As the cryptocurrency market changes rapidly, we need to stay calm, think rationally, and avoid blindly following the trend.
Compiled by: Moni, Odaily Planet Daily
For the encryption industry, the expansion problem of Ethereum seems to be obvious from the beginning. As usage scenarios continue to increase, existing technologies are unable to meet the demand for processing large volumes of transactions. Therefore, it has become imperative to implement innovative solutions to expand the network.
Dencun upgrade plan is scheduled to be carried out on March 13, if everything goes well. While this is an important step in the right direction, some community members believe Dencun is just a temporary fix. They believe that Ethereum needs a more sustainable long-term solution.
The goal of the Dencun upgrade is to improve the scalability of Ethereum and is currently in the testnet deployment stage. Although the upgrade of the Goerli testnet was previously delayed due to bug issues, the deployment of Sepolia and Holesky is progressing smoothly.
Dencun introduces the concept of "proto-danksharding", aiming to reduce transaction costs by using the "blob" format instead of "calldata". Blobs will make transaction data temporarily available in a "compressed" format, thereby significantly improving storage efficiency and being more cost-effective than calldata (it is said to have the potential to reduce costs by 80% to 90%). Subsequent shard upgrades will also use the same format. Overall, the Dencun upgrade will bring developers higher storage efficiency, lower gas fees, and a better experience, while making Rollups more cost-effective.
Bitwise Invest researcher Juan Leon analyzes that IP-4844 will enable the "data fingerprint" of compressed transaction data structures and reduce L2 transaction fees to less than $0.01, which will greatly promote the expansion of the Ethereum network. and pave the way for mainstream consumer applications (transaction costs become negligible, which is a significant hurdle). David Lawant, director of research at FalconX, also expressed a similar view, adding that "technological developments usually do not affect the price of cryptocurrencies, but ETH upgrades are an exception. Before key upgrades, ETH often performs better than BTC."
While the Dencun upgrade is a step in the right direction, it is not a permanent solution. The main purpose of this upgrade is to improve data storage efficiency, which is undoubtedly beneficial. However, the long-term problem faced by the Ethereum network is the capacity issue, and future development needs to focus on expanding network capacity to support the increasing number of transactions. All things considered, a multi-chain solution may be more helpful in achieving this goal.
A multi-chain solution, namely Rollups and AppChain, is the ideal long-term mechanism for increasing Ethereum capacity.
Application chains, also known as application-specific blockchains, have their own dedicated processing power and storage and are designed to serve a single application. Application chains can be built on larger mainnets, such as Ethereum, or even L2 blockchains, allowing on-chain transactions to be offloaded from the mainnet and processed by the application chain. If widely used, Utility Chain will greatly increase Ethereum's capacity.
Rollup technology can be used to build application chains, but the difference is that Rollup mainly handles off-chain transactions - transactions are executed off-chain, and then "aggregated" into a single transaction and fed back to the main network. Rollups are generally less efficient than application chains because they generally rely more on the main chain for security than application chains. In addition, they are less customizable than application chains, but they can still provide a certain degree of flexibility and are easier to deploy and manage.
Since both have their own merits, synergy can be achieved by combining the transaction efficiency of Rollup with the flexibility and customization of AppChain. Developers can also benefit from scaling beyond L1 networks into more scalable and versatile environments, making it easier to design and deploy blocks that meet the needs of their user base while maintaining high levels of efficiency and security. chain application.
By increasing capacity, throughput, reducing latency and improving resource management, multi-chain solutions enable the network to accommodate greater transaction volumes while maintaining optimal performance.
For a long time, developers have been working hard to solve the impossible triangle problem of blockchain, trying to find a balance between scalability, security and decentralization. Multi-chain solutions that emphasize interoperability and security have the potential to help Ethereum realize its full potential.
Frankly speaking, implementing a multi-chain solution on the Ethereum network also presents a unique set of challenges for developers. One of the main obstacles to current multi-chain solutions is the complexity of interoperability management between different chains, so the integration of cross-chain communication protocols and integration technologies, as well as ensuring consistent security measures across multiple chains, is a top priority. Beyond this, overcoming these challenges requires a thorough understanding of the technologies involved and a commitment to creating an accessible and developer-friendly environment that facilitates seamless integration and effective utilization of multi-chain solutions.
The future development of Ethereum is exciting. Finance, identity, gaming, supply chain, healthcare, food supply and many other industries are already beginning to benefit from the Ethereum network, but rapid growth is also accompanied by Growing pains.
Capacity is a growing concern for Ethereum. While the Dencun upgrade will help solve this problem by improving efficiency, at this stage this solution is more like a "Band-Aid". So in the long run, the best way forward is still to increase capacity, and multi-chain solutions such as AppChain and Rollups may be a good idea.
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