What are the differences between the Ethereum Shanghai upgrade and the Cancun upgrade?

The Cancun upgrade is currently the most concerned thing in the market, but at the same time, the Ethereum Shanghai upgrade is also a highly discussed topic in the currency circle. So what is the difference between the Ethereum Shanghai upgrade and the Cancun upgrade? The Cancun upgrade is the next major upgrade to the Ethereum network, and compared to the Shanghai upgrade, the Cancun upgrade introduces more improvements and new features. The most important change is the shift from the Proof of Work (PoW) consensus mechanism to the Proof of Stake (PoS) consensus mechanism. This will make Ethereum more energy efficient, more scalable, and reduce transaction fees. Next, the editor will analyze the differences between these two upgrades in detail.

What is the difference between the Ethereum Shanghai upgrade and the Cancun upgrade?

The Shanghai upgrade is an upgrade of the Ethereum network, while the Cancun upgrade is an upgrade of the Polkadot ecosystem. The two target different blockchain platforms and have different goals and characteristics.

The Shanghai upgrade is part of Ethereum 2.0 (also known as Serenity) and aims to introduce important improvements and upgrades to the Ethereum network, including improving network security and scalability. One of the key improvements is the introduction of EIP-152 (also known as BRENT precompiled contracts) to improve the security of elliptic curve encryption. In addition, the Shanghai upgrade also brings other improvements and optimizations to the Ethereum network.

The Cancun upgrade is an upgrade of the Polkadot ecosystem and is not directly related to Ethereum. Polkadot is a multi-chain blockchain platform that differs from Ethereum in design and purpose. The goal of the Cancun upgrade is to improve the performance, functionality, and security of the Polkadot network to support more blockchain projects and applications. This upgrade may improve Polkadot’s consensus mechanism, governance, chain interoperability, and chain functionality.

What is the impact of the Cancun upgrade on Ethereum?

The Cancun upgrade will improve the adaptability, security, and user-friendliness of the Ethereum network, solidify its position in the cryptocurrency space, and enhance the functionality and efficiency of second-layer solutions.

EIP-4844 upgrades Ethereum and introduces the Blob mechanism, which can store large amounts of state data off-chain. Doing so can not only reduce the cost of layer2Batch transactions, but also increase storage space to achieve expansion.

Through EIP-4844’s Proto-Danksharding integration, the Ethereum network will significantly improve scalability and efficiency, making transactions faster and more cost-effective.

The upgrade of Ethereum is to realize its vision of becoming a global modular transaction center. The upgrade is not just a technical improvement but also focuses on enhancing security and reducing transaction fees. Through the second layer rolling of optimism and ZK, Ethereum can better meet the needs of users, improve transaction efficiency, and promote the development of the entire blockchain industry.

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