Base, a prominent Layer-2 network for Ethereum, has voiced strong backing for the Dencun upgrade slated for release. This upgrade is set to introduce the anticipated EIP-4844 protocol, with the potential of slashing transaction fees by over 90%, a move expected to notably benefit rollup solutions. The Dencun upgrade stands out as a pivotal enhancement for Ethereum, promising to make Layer-2 solutions significantly more affordable for users.
Imminent Dencun Upgrade Enhances Data Availability
On the horizon for March 13, the Dencun upgrade looks to bolster data availability, thereby supporting a sweeping fee reduction for rollup users. The Base team has confirmed its readiness to support the new upgrade from its inception. Additionally, the Ecotone OP Stack upgrade, coming on the heels of Dencun, promises to bring advantages to various Layer-2 ecosystems and the Optimism Superchain, where Base is a key participant.
Layer-2 to Reap Benefits from EIP-4844 Integration
With EIP-4844, Ethereum’s Layer-1 blocks will feature new data packages or ‘blobs’, offering a boost in data availability without jeopardizing existing infrastructure. This development is set to enable cheaper Layer-2 transactions and maintain cost-effectiveness even during network congestion spikes, thanks to an independent fee market for blobs.
The Base team has highlighted that the Dencun upgrade will not only reduce costs but also accelerate transaction speeds. This advancement could lead to more accessible decentralized apps, particularly in gaming and order book exchanges. Other Layer-2 projects like Polygon, zkSync, and Arbitrum are aligning with Base in predicting fee reductions ensuing the upgrade.
The anticipated Dencun upgrade is poised to bring substantial benefits for Ethereum’s Layer-2 ecosystem users. Industry analysts and experts predict that the decreased transaction fees could bolster interest in Layer-2 project tokens, potentially driving significant momentum for networks such as Arbitrum and Optimism in the near future.