{"id":1533,"date":"2024-03-14T13:13:47","date_gmt":"2024-03-14T10:13:47","guid":{"rendered":"https:\/\/coinmarketrate.com\/blog\/?p=1533"},"modified":"2024-03-14T13:13:47","modified_gmt":"2024-03-14T10:13:47","slug":"ethereum-l2s-median-transaction-fees-decline-as-much-as-99-post-dencun-upgrade","status":"publish","type":"post","link":"https:\/\/coinmarketrate.com\/blog\/ethereum-l2s-median-transaction-fees-decline-as-much-as-99-post-dencun-upgrade\/","title":{"rendered":"Ethereum L2s median transaction fees decline as much as 99% post-Dencun upgrade"},"content":{"rendered":"
Ethereum layer 2 (L2) protocols have seen a significant drop in transaction fees, with some protocols recording a reduction of up to 99% after the\u00a0Dencun upgrade on Ethereum\u00a0on March 13. Dencun is a scalability-focused upgrade on the Ethereum mainnet, with many touting it as one of the most significant upgrades since the Merge.<\/div>\n
\n
<\/div>
Median transaction fee of L2s. Source: Dune<\/em><\/figcaption><\/figure>\n

Starknet, a prominent Ethereum-based L2, has seen a 99% reduction in gas fees after the upgrade. The protocol shared a screenshot of their latest gas fee, which has come down to $0.04 compared to over $6 prior to the Dencun upgrade.<\/p>\n

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Starknet gas fee. Source:\u00a0Starknet on X<\/a>.<\/em><\/figcaption><\/figure>\n

Several other L2 platforms, including Optimism, Base, Zora OP mainnet, and others, registered a dramatic decline in gas fees after the Dencun upgrade. The average transaction fees for Optimism dropped to $0.05, $0.064 on Base, $0.5 on Arbitrum and $0.16 on zkSync Era. Within 24 hours of the upgrade, Optimism and chains based on Optimism\u2019s tech stack, like Base, have seen the most critical gas fee reductions.<\/p>\n

\n
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Optimism L2s transaction cost decline. Source:\u00a0Optimism on X<\/a>.<\/em><\/figcaption><\/figure>\n

One of the most widely used L2 platforms, Arbitrum One, plans to launch its ArbOS upgrade to introduce blob support to Arbitrum rollup chains\u00a0later today.<\/p>\n

The Dencun hard fork introduced nine different Ethereum Improvement Proposals (EIPs), out of which EIP-484 introduced data blobs and provided Layer 2s with a new transaction datatype called blobs. The latest data blobs bypass the traditional \u201ccall data\u201d process to publish information on the Ethereum mainnet, providing faster transactions at lower fees. The Dencun upgrade was two years in the making.<\/p>\n

Ethereum Foundation\u2019s Tim Beiko called Dencun \u201cthe most complex fork we\u2019ve shipped since the Merge,\u201d and ties with Byzantium for the \u201cmost total EIPs in a fork.\u201d<\/p>\n

As the number of rollups using blobs rises and the battle for blob space is predicted to heat up, the low cost on L2 chains using blobs may see increased fees in the future, resulting in higher transaction costs.<\/p>\n","protected":false},"excerpt":{"rendered":"

Ethereum layer 2 (L2) protocols have seen a significant drop in transaction fees, with some protocols recording a reduction of up to 99% after the\u00a0Dencun upgrade on Ethereum\u00a0on March 13. Dencun is a scalability-focused upgrade on the Ethereum mainnet, with many touting it as one of the most significant upgrades since the Merge. Median transaction […]<\/p>\n","protected":false},"author":1,"featured_media":1534,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[8],"tags":[],"class_list":["post-1533","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-uncategorized-en"],"yoast_head":"\nEthereum L2s median transaction fees decline as much as 99% post-Dencun upgrade<\/title>\n<meta name=\"description\" content=\"Ethereum layer 2 (L2) protocols have seen a significant drop in transaction fees, with some protocols recording a reduction of up to 99% after the\u00a0Dencun upgrade on Ethereum\u00a0on March 13. 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