Starknet's Innovative Plans for Fee Reduction Following Ethereum's Dencun Upgrade
Summary:
The Starknet Foundation anticipates a significant reduction in rollup costs following the Dencun upgrade to Ethereum on March 13. The upgrade incorporates the Ethereum Improvement Proposal (EIP-4844), significantly changing how Ethereum rollups store data. Starknet further plans to launch a hard fork upgrade, transitioning from the costly 'call data' method to the more efficient 'blobs' transaction type. Starknet predicts immediate fee reductions and expects to see resulting statistics within an hour of Dencun's implementation.
The Starknet Foundation is expecting a doubling effect on cost reductions for rollups following the Dencun upgrade to Ethereum, which is set to take effect on March 13. Starknet is introducing additional initiatives to decrease fees on its protocol in conjunction with the arrival of the Dencun hard fork. This represents one of the most significant advances for Ethereum since it transitioned to proof-of-stake consensus in October 2022.
Incorporated within Dencun is Ethereum Improvement Proposal (EIP-4844), which modifies the method by which Ethereum rollups store data on mainnet. Several layer-2 rollups compile and process transactions off-chain and subsequently send a summary proof of these transactions to the Ethereum blockchain.
EIP-4844 introduces a new method for rollups to affordably add data to blocks by transitioning to blob space instead of using call data for storage. Traditionally, storing cryptographic proofs of bundled off-chain transactions using call data has been costly as every Ethereum node needs to process the data received on-chain indefinitely.
EIP-4844, proposed by a team known as Proto-danksharding, enables rollups to send and append data blobs to blocks. This data cannot be accessed by the Ethereum Virtual Machine and automatically expires after a set period of 18 days.
Polygon Labs Product VP, David Silverman, previously mentioned that the blog space provided robust security assurances and was remarkably more economical for rollups. Anticipating an immediate minimization in costs, Starknet awaits the outcome as post-Dencun fees are set to take a bit of time to reflect due to layer-2 rollups upgrading and governing their contracts to change from pointing to call data to pointing to the new blob space.
Starknet is releasing its dedicated hard fork upgrade, Starknet version 0.13.1, to coincide with Dencun, moving from the costly call data method for sending data to Ethereum to the economically efficient blobs transaction type, effectively decreasing fees. Starknet is set to see significant gains as call data accounts for almost 90% of the gas fees it spends to post transactions to the Ethereum mainnet.
Starknet’s SHARP prover, which transmits Starknet's state diffs to Ethereum as call data, will shift to blob space. State diffs encompass details about all updated contract storage and other contract deployment information.
Ilia Volokh, StarkWare Product Manager and blockchain researcher, expects accurate statistics reflecting a reduction in fees within an hour of Dencun’s implementation. According to Volokh, the benefits will be instantly visible to users, with data pricing aligning with Ethereum's blob prices.
Starknet's SHARP prover leverages recursive proof technology to batch previous proofs into packages known as trains. An innovative hash system set to launch in early 2024 will enable the trains to carry more transactions, enhancing the protocol's efficiency.
Published At
3/12/2024 4:00:00 PM
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