Dencun is the latest upgrade The Ethereum network may have achieved its goal of reducing transaction costs, since data shows a notable drop in the average fees for layer-2 networks.
Dencun upgrade Then, went live Tim Beiko of the Ethereum Foundation Protocol support confirmed to me that on March 13th, Ethereum’s mainnet was launched.
Dune has provided data that shows L2 protocols using blob transaction have seen a substantial decrease in fees. Platforms such as Base Optimism and Arbitrum saw some of the biggest drops soon after Dencun was launched.
Dune’s data shows that on March 11 Optimism recorded an average fee for a transaction of $1.587 and Base $1.927. These values, however, have fallen dramatically, as Optimism, and Base, both recorded an average transaction fee of $0.035 during the time period reported.
It represents a massive 97.7% decrease in Optimism fees, and a 98.8% drop for Base. Dune’s data also shows that Zora has experienced an equally impressive drop in fees. From $1.423 to $0.003 on March 11, the figures have dropped by 99%.
Starknet, a Starknet-branded wallet, saw a drop of the same magnitude. The average price for Argent X in-app exchanges dropped by about 10%. slumping Dencun’s price has dropped from $6.82 to $0.04 in just a few short days. The influx of new users has been a major factor in the success. Starknet Foundation You can also read about how to get in touch with us. promised Introduce a fee reduction mechanism in parallel to Dencun.
The uninitiated may not understand the significance of the Dencun upgrade The seamless integration of the two “Cancun” The following are some examples of how to get started: “Deneb” updates. The roadmap of Ethereum is aligned with this. “The Surge,” With a focus on improving the network’s scaleability.
It is important to note that the word “you” means “you”. upgrade The novel concept of “proto-danksharding” The EIP-4844 aims to improve data management and fine-tune the gas fee for layer-2 network and rollups.
Dencun aims to improve the Ethereum eco-system by reducing transaction costs. Noteworthy, the goal could be reached through a new type of transaction known as “shard blob transactions,” EIP-4844 is a new product.
Ethereum has a thriving ecosystem. witnessed The utilization of more than 4,000 blobs has been achieved so far. Arbitrum will join in the fun with its ArbOS Hypervisor, which is launching soon. Blast, meanwhile, saw its 1-hour transaction time increase. downtime Dencun has been the subject of many issues.
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Source: crypto.news