Ethereum Layer 2 Base Prepares for Dencun Upgrade, Aiming to Drastically Reduce Network Fees
Ethereum Layer 2 Base has announced its commitment to support the upcoming Dencun upgrade, including the much-anticipated EIP-4844, from day one.
The team’s objective is to usher in a significant reduction in fees on the Ethereum network.
The Dencun upgrade, scheduled for March 13, is set to bring about substantial changes, particularly in enhancing data availability.
This improvement is expected to have a profound impact on users of Layer 2 solutions, with Base estimating a fee reduction of over ten times, offering significant benefits, especially to rollups.
The subsequent Ecotone OP Stack upgrade, closely following Dencun on the mainnet, is set to extend its advantages to the Optimism Superchain ecosystem.
Ethereum Layer 2 Base, along with other projects like Mode, Zora, Aevo, and Fraxtal, will be among the beneficiaries of this ecosystem-wide enhancement.
We’re getting close to a major milestone on the journey to a better internet
— Base 🛡️ (@base) March 7, 2024
With the upcoming Dencun and Ecotone OP Stack upgrades, gas fees will be radically reduced for users of Ethereum L2s like Basehttps://t.co/LDAaXBWtxQ
“Base will have Day 1 support for the Dencun upgrade, which is expected to drive down fees for users by 10-100x through increased data availability for rollups,” the team stated.
EIP-4844 introduces an innovative concept called “blobs” within Layer 1 blocks. These blobs act as an additive feature, boosting Ethereum’s data availability without causing disruptions to the existing infrastructure. The outcome is more affordable transactions across Layer 2 solutions.
The introduction of an independent fee market for blobs ensures cost-effectiveness, even during periods of high network congestion.
The team emphasizes that this upgrade will not only reduce fees but will also accelerate transaction speed, making decentralized applications, particularly in areas like on-chain gaming and limit order book exchanges, more accessible to users.
Several other Layer 2 projects, including Polygon, zkSync, and Arbitrum, have expressed similar expectations of reduced fees following the implementation of the Dencun upgrade.
The collective efforts within the Ethereum ecosystem are geared toward creating a more scalable, efficient, and user-friendly decentralized environment.
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