The Ethereum network is poised for its Dencun upgrade next week, a significant development that has sparked considerable excitement within the Ethereum community. This upgrade, also referred to as EIP-4844, is expected to drastically reduce costs associated with Layer 2 (L2) solutions, which have been a focal point for reducing Ethereum's high transaction fees. In anticipation of the upgrade, the number of active users on Ethereum L2s surged to a record 3.5 million last week, highlighting unprecedented activity on platforms such as ZkSync Era and Linea. Additionally, February data shows that rollups, crucial for Ethereum's scalability, spent millions on posting data to Ethereum, with Arbitrum leading at $7.23 million, followed by zkSync Era at $6.02 million, Optimism at $5.68 million, Base at $3.79m, Scroll at $3.64m, and Linea at $2.29m. The upgrade is hailed as the most significant since the Ethereum merge, with expectations of making L2 solutions substantially cheaper and more efficient.
An unanswered question in the rollup centric roadmap: Can shared interoperability infrastructure (@EspressoSys, @nebrazkp) get L2s to join their common-space? (chain globalism) Or will L2s build their own internal infra (agg layer), and keep strong borders? (chain isolationism)
A huge ongoing research theme in the rollup centric roadmap: Can shared interoperability infrastructure (@EspressoSys, @nebrazkp) get L2s to join their common-space? (chain globalism) Or will L2s build their own internal infra, and keep strong borders? (chain isolationism)
A huge ongoing research theme in #Ethereum's rollup centric roadmap Can shared interoperability infrastructure (@EspressoSys, @nebrazkp) get L2s to join their common-space? (chain globalism) Or will L2s build their own internal infra, and have strong borders (chain globalism)
A less talked about fact: EIP4844 will also make L1 txns cheaper for users. Arbitrum, zkSync, OP, Linea, Starknet, Scroll and Base were all top gas guzzlers over the last 3 months. These rollups will participate in the blob gas fee market instead of the standard gas market.β¦ https://t.co/fWj2AY3jCK
I'm looking forward to joining @gnosischain for their Dencun upgrade call, just two days before the Ethereum mainnet upgrade. Much stoked. https://t.co/8h54TZUpyX
1. Bridge to L2s 2. Use L2s 3. Bridge between L2s as needed L2s: Arbitrum, Optimism, Blast, Base, etc Bridges: Hop, Rhino, etc This is what Ethereum modularity is built for.
PSA: Contrary to what youβll read on some social media accounts the effect of dencun and 4844 on eth L1 tx fees is little to none. However L2 are expected to be multiples times cheaper to use at equivalent demand.
Dencun 4844 is the biggest Ethereum upgrade since the merge. L2s burn alt L1s π₯π₯π₯
Soylana manlets are going to keep showing screens of $100+ gas fees until we start using L2s more, which is the plan anyways. There are many L2s with all the same dapps as on Ethereum mainnet. Base, Optimism, Arbitrum, Blast.
0.07$ gas fees in llamazip vs >4$ in other aggregators many ppl have asked me how that's possible it's because llamazip optimizes for calldata costs while other aggregators optimize evm costs On L2 calldata costs dominate over EVM costs, so llamazip does very well on L2s https://t.co/8HfBwSmT0e
β¬οΈThe number of active users on Ethereum L2s tagged a record high of 3.5 million last week amid unprecedented activity on ZkSync Era and Linea. The milestone comes as L2 fees are expected to plummet after Ethereum's Dencun upgrade next week π Read More: https://t.co/n0kXf1ydbg https://t.co/NYr1GduzRP
Here is what rollups spent on posting data to Ethereum in February. Excited to see these costs get slashed when EIP-4844 goes live this month! 1. Arbitrum - $7.23m 2. zkSync Era - $6.02m 3. Optimism - $5.68m 4. Base - $3.79m 5. Scroll - $3.64m 6. Linea - $2.29m 7. Mantle -β¦ https://t.co/IY5SR0cLcI
What is Ethereum Dencun upgrade and why is it causing so much excitement among the Ethereum community? https://t.co/Pqpvdzko7A