Unchained How Ethereum’s Dencun Upgrade Could Lead to the Rise of Millions of Layer 3s - Ep. 620
Mar 15, 2024
Jesse Pollak, the creator of Base at Coinbase, shares insights into Ethereum's recent Dencun upgrade, which significantly reduced transaction fees and boosted transactions. He explains how this upgrade differentiates Layer 1s from Layer 2s, sparking the potential rise of specialized Layer 3s. Pollak addresses concerns about the fragmentation and centralization of Layer 2s, and highlights the importance of onchain terminology over crypto jargon. He also discusses the exciting features of transient storage and improved composability between layers.
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Dankun Upgrade's BlobSpace
- Ethereum's Dankun upgrade aims to scale Layer 2s by creating "BlobSpace."
- This dedicated space lets Layer 2s post data more cheaply, like an HOV lane, lowering fees.
The Rise of Layer 3s
- Layer 3s will connect applications to the on-chain economy, enabling access to assets and identity.
- These dedicated servers will enhance existing web2 applications and integrate with Layer 2s.
Layer 1 vs. Layer 2
- Ethereum Layer 1 will focus on settlements and interoperability between Layer 2s, acting as a business chain.
- Layer 2s will be user-focused, offering fast and cheap transactions for everyday people.