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.
40:46
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Quick takeaways
- Dencun upgrade lowers transaction fees on Ethereum Layer 2 networks, driving increased user activity and adoption.
- Ethereum's Layer 1 and Layer 2 networks are expected to differentiate, paving the way for specialized Layer 3 solutions and improved scalability.
Deep dives
Decentralized Layer 2 Scaling on Ethereum through Danku Upgrade
The Danku Upgrade on Ethereum focused on enhancing layer 2 scalability by utilizing proto dank sharding to reduce costs associated with storing transaction data. This upgrade led to substantial fee reductions on layer 2 networks like Optimism, Base, Arbitrum, and zkSync, resulting in significantly lower average transaction fees. By introducing blob space as a high-speed lane for transactions, the upgrade aims to drive down fees and increase throughput, laying the foundation for scaling Ethereum to accommodate thousands of transactions per second.
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