Crypto Flexs
  • DIRECTORY
  • CRYPTO
    • ETHEREUM
    • BITCOIN
    • ALTCOIN
  • BLOCKCHAIN
  • EXCHANGE
  • TRADING
  • SUBMIT
Crypto Flexs
  • DIRECTORY
  • CRYPTO
    • ETHEREUM
    • BITCOIN
    • ALTCOIN
  • BLOCKCHAIN
  • EXCHANGE
  • TRADING
  • SUBMIT
Crypto Flexs
Home»ETHEREUM NEWS»Blobs successfully lowered layer 2 fees with the goal of increasing adoption with the Ethereum Dencun upgrade.
ETHEREUM NEWS

Blobs successfully lowered layer 2 fees with the goal of increasing adoption with the Ethereum Dencun upgrade.

By Crypto FlexsMarch 14, 20242 Mins Read
Facebook Twitter Pinterest LinkedIn Tumblr Email
Blobs successfully lowered layer 2 fees with the goal of increasing adoption with the Ethereum Dencun upgrade.
Share
Facebook Twitter LinkedIn Pinterest Email

Transaction fees on various Ethereum layer 2 networks such as Base, StarkNet, and Optimism have decreased significantly since the implementation of the Dencun upgrade.

The Dencun upgrade was released yesterday. There have been months of anticipation within the cryptocurrency community. The upgrade, described as the most “complex fork” since Ethereum transitioned to a proof-of-stake network, introduced a new transaction type called Blob for layer 2 networks.

Dencun has launched Ethereum ‘blobs’, a temporary data storage mechanism that significantly reduces transaction fees and improves throughput on layer 2 networks by allowing a more efficient and cost-effective way to publish rolled-up data. This data is cleaned from the blockchain after approximately 18 days to maintain network efficiency.

Fee reduction

Jesse Pollack, a Base contributor, reported Network transaction fees are reduced from $0.31 to $0.0005.

Meanwhile, Base’s average fee is about $0.18, compared to $0.88 previously, according to OKLink data. The data also shows that Layer 2 network Optimism fees have decreased significantly from previous levels of over $1 to just a few cents.

StarkNet also saw a 99% reduction in fees. Argent, a prominent wallet provider on the network, reported The average swap fee was $0.04, a sharp contrast to the $6.80+ observed prior to Dencun.

Blockchain analysis platform SoSo Value confirmed This decline is “ Transfer (one-way) and swap (two-way) fees have been significantly reduced. decision, optimismand Base From 7am (HKT) on March 14th.”

Ethereum Layer2 network fees. (Source: SoSoValue)

Interestingly, Ethereum developers have begun storing the entire script of Bee Movie, an animated comedy featuring Jerry Seinfeld, on the Ethereum blockchain at minimal cost.

Improved adoption

As transaction fees on layer 2 networks decrease, stakeholders expect further adoption of the Ethereum network.

Brian Armstrong, CEO of Coinbase echoed This optimism highlights the potential for expanding cryptocurrency use cases while reducing transaction fees and confirmation times on layer 2 blockchains.

Likewise, Eli Ben-Sasson, Executive Director of the Starknet Foundation, said: CryptoSlate The Dencun upgrade will be considered “the moment when decentralized applications (dApps) that are otherwise not viable in terms of fees become practical.” “Today will be marked as the birth of dApp culture for all things.”

Mentioned in this article
recent Alpha market report

Share. Facebook Twitter Pinterest LinkedIn Tumblr Email

Related Posts

Ethereum whales doubled down on ETH as the $5,000 price target moves higher.

October 30, 2025

Ethereum Rebounds from Bull Market Support: Can It Conquer the ‘Pocket of Gold’ Next?

October 26, 2025

A retail rail can push $2 million a day out of the chain.

October 22, 2025
Add A Comment

Comments are closed.

Recent Posts

Let AI Work For You — Empowering Everyone To Profit From The Intelligence Era

October 30, 2025

NOWPayments Launches $0 USDT (TRC20) Network Fee Offer For New Partners

October 30, 2025

Jiuzi Holdings Launches $1 Billion Bitcoin Treasury With SOLV To Drive Institutional Yields And RWA Innovation

October 30, 2025

Hetu 3.0 – Deep Intelligence Money

October 30, 2025

Doodles has joined Universal Monsters and dropped a TON of NFT stickers.

October 30, 2025

Ethereum whales doubled down on ETH as the $5,000 price target moves higher.

October 30, 2025

SOL remains fixed below $200 despite surge in ETF trading volume

October 30, 2025

Bybit’s BbSOL Gains Institutional Custody Support From Anchorage Digital, Reinforcing Its Institutional-Grade Standing

October 30, 2025

OKX Ventures Invests in Accountability for Enhanced Financial Verification

October 30, 2025

Injective (INJ) Completes First Community Buyback Worth $32 Million

October 29, 2025

Whale.io Confirms First Airdrop For Crock Dentist NFT Holders

October 29, 2025

Crypto Flexs is a Professional Cryptocurrency News Platform. Here we will provide you only interesting content, which you will like very much. We’re dedicated to providing you the best of Cryptocurrency. We hope you enjoy our Cryptocurrency News as much as we enjoy offering them to you.

Contact Us : Partner(@)Cryptoflexs.com

Top Insights

Let AI Work For You — Empowering Everyone To Profit From The Intelligence Era

October 30, 2025

NOWPayments Launches $0 USDT (TRC20) Network Fee Offer For New Partners

October 30, 2025

Jiuzi Holdings Launches $1 Billion Bitcoin Treasury With SOLV To Drive Institutional Yields And RWA Innovation

October 30, 2025
Most Popular

Israeli fintech Kima considers development of ‘DeFi credit card’ with Mastercard Lab

May 14, 2024

Interview with Vikram Seth from Shell

December 14, 2023

KlimaDAO and Limenet join forces to bring permanent carbon dioxide removal credits to market.

April 25, 2024
  • Home
  • About Us
  • Contact Us
  • Disclaimer
  • Privacy Policy
  • Terms and Conditions
© 2025 Crypto Flexs

Type above and press Enter to search. Press Esc to cancel.