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The popular Ethereum Layer-2 network Base team has announced it will provide support from day one for the upcoming Dencun upgrade, which aims to reduce transaction fees within the ecosystem and includes the much-anticipated EIP-4844. The Dencun upgrade on Ethereum is expected to significantly lower fees for Layer-2 users. Predictions from Base indicate a reduction of over 90%, especially benefiting rollups.
Base Team’s Announcement on Dencun Upgrade
The Dencun upgrade, scheduled for March 13, will bring changes that increase data availability. This upgrade on the mainnet will be closely followed by the Ecotone OP Stack upgrade, which will benefit other Layer-2 ecosystems such as Mode, Zora, Aevo, and Fraxtal, as well as the Optimism Superchain ecosystem, of which Base is a part. The team made the following statement regarding the matter:
“Base will provide support for the Dencun upgrade from the first day, and this upgrade is expected to reduce fees for users by 10 to 100 times through increased data availability for rollups.”
EIP-4844 introduces a new concept of blobs within Layer-1 blocks. These blobs are designed as an additional feature that increases Ethereum’s data availability without affecting the existing infrastructure, resulting in cheaper transactions in Layer-2 ecosystems. An independent fee market for blobs ensures costs remain low even during periods of high network congestion.
Dencun Upgrade and the Layer-2 Ecosystem
The team also noted that the upgrade will help make transactions faster and cheaper, thus making decentralized applications in areas such as gaming and order book exchanges more accessible on the chain. Meanwhile, other Layer-2 projects like Polygon, zkSync, and Arbitrum have also made similar predictions about fee reductions following the Dencun upgrade.
The Dencun upgrade is expected to bring significant benefits for users in Ethereum-based Layer-2 ecosystems. According to many analysts and experts, this reduction in transaction fees could increase interest in the native tokens of Layer-2 projects. In particular, popular network tokens like Arbitrum and Optimism are expected to gain serious momentum in the coming days.
