In this installment of “The Protocol,” hosts Brad Keoun, the founding editor of The Protocol Newsletter, and tech journalists Sam Kessler and Margaux Nijkerk, discuss the Ethereum Dencun upgrade, a significant upgrade for the Ethereum blockchain, with a special guest, Ethereum Foundation’s Tim Beiko.
The upgrade introduces ephemeral data storage, known as blobs, which will reduce storage costs for layer twos and roll-ups. The Dencun upgrade is technology-neutral and does not favor any specific layer two solution. However, there are concerns about the potential fragmentation of the Ethereum ecosystem and the shift towards less secure chains. Overall, the upgrade is an important step towards Ethereum’s long-term scaling plans.
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00:00 Introduction and Technical Difficulties
01:26 Introduction to Ethereum Denkun Upgrade
05:23 Competition Among Layer Twos
08:23 Importance of the Dengkun Upgrade
10:47 Sharding and Fee Reductions
11:32 Stateless Ethereum and Fee Reductions
15:36 Duration of Blob Storage
19:11 Concerns about Fragmentation and Security
20:26 Developer Fragmentation and Experimentation
23:02 Security Assumptions and Education
26:06 Coordination and Decentralization
29:24 Coordinating with Layer 2 and Restaking Ecosystems
31:08 Data Availability Solutions and Trade-offs
34:38 Coordinating with Other Teams and Ecosystems
39:27 Prague and Electra Upgrades
42:43 The Future of Layer 2 Solutions
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