Ethereum’s Upcoming Duncan Upgrade Set to Enhance Layer 2 Solutions
The upcoming Duncan upgrade on Ethereum, set to be released in mid-March, is generating excitement among Ethereum enthusiasts. This upgrade will introduce “proto-danksharding,” also known as EIP-4844, which aims to enhance Layer 2 solutions such as zkSync, Optimism, and Arbitrum. This development is seen as crucial for the future of these solutions.
The inclusion of off-chain “data blobs” through EIP-4844 will allow for the inclusion of more data in Ethereum transactions without impacting block processing times. This is seen as a significant scalability solution for Layer 2s on the network, providing them with the ability to utilize increased data capacity.
Significant Decrease in Transaction Costs Anticipated
One of the major benefits of the EIP-4844 upgrade is the expected substantial reduction in transaction fees. Currently, zkSync transaction fees average around $0.20. After Duncan, it is predicted that the component related to data costs, which currently stands at roughly $0.08-$0.10 per transaction, could potentially reduce nearly ten-fold. This decrease in transaction costs is expected to make Ethereum Layer 2 solutions more affordable for users.
Matter Labs Enhancing zkSync Performance Ahead of Upgrade
Matter Labs, the core contributor to zkSync, has been implementing code enhancements over the past year to improve performance and transaction batching. These enhancements align with the goals of EIP-4844 and aim to maximize the capabilities of zkSync.
One of the key developments from Matter Labs is the implementation of Boojum, a STARK-based proof system. Boojum allows for more data compression and publishing within zkSync batches sent to the Ethereum mainnet. This enhancement, combined with the cost efficiency that Duncan brings, will make zkSync more cost-effective.
Larger Batches and Cheaper Transactions with Boojum Upgrade
The introduction of the Boojum upgrade has allowed zkSync to increase the size of its batches and improve data compression. This will result in larger batches and cheaper transactions for users. Matter Labs has made changes to the way data is published to the Ethereum mainnet in preparation for EIP-4844, which has also enabled them to enhance data compression and increase batch sizes.
With these advancements, the performance of zkSync is expected to improve significantly, making the Layer 2 solution more efficient and cost-effective for users.
Conclusion: Duncan Upgrade Set to Revolutionize Ethereum Layer 2 Solutions
The upcoming Duncan upgrade on Ethereum is poised to revolutionize Layer 2 solutions such as zkSync, Optimism, and Arbitrum. Through the introduction of EIP-4844, also known as proto-danksharding, the scalability of these solutions will be enhanced, allowing for increased data capacity and reduced transaction costs.
Matter Labs, the core contributor to zkSync, has been working on code enhancements and the implementation of the Boojum upgrade to further improve performance and transaction batching. These developments, combined with the Duncan upgrade, will make zkSync more efficient and cost-effective for users.
Overall, the Duncan upgrade is eagerly anticipated by the Ethereum community and is expected to propel Layer 2 solutions to new heights, paving the way for increased adoption and scalability on the network.
Analyst comment
Positive news: The upcoming Duncan upgrade on Ethereum is set to revolutionize Layer 2 solutions by enhancing scalability and reducing transaction costs. The inclusion of EIP-4844 will allow for increased data capacity and off-chain “data blobs,” while Matter Labs’ code enhancements and the Boojum upgrade will improve performance and transaction batching for zkSync. This upgrade is eagerly anticipated by the Ethereum community and expected to drive increased adoption and scalability in Layer 2 solutions.
