Ethereum Dencun upgrades, Layer2 enters the era of fee reduction
The Ethereum Dencun upgrade has been officially activated at Beacon Slot 8626176, marking the successful completion of the Ethereum Dencun upgrade. In the months leading up to the official deployment on the mainnet, Ethereum core developers and major client teams have deployed the Dencun upgrade on Devnet, Goerli testnet, Sepolia testnet, and Holesky testnet to test and observe the upgrade and its subsequent network performance.
After the Ethereum mainnet completes the Dencun upgrade, the network’s scalability, security, and user experience of the upgraded network will be enhanced through improvements proposed in nine Ethereum Improvement Proposals (EIPs). According to official information from Ethereum, these nine proposals will be integrated into the consensus layer and execution layer of Ethereum based on their respective functionalities.
The core content of the Dencun upgrade is EIP-4844, which aims to introduce a new transaction type called “Blob transactions” to Ethereum. This upgrade adds an additional temporary data space called Blob to the blocks on the Ethereum mainnet, specifically designed to process Layer 2-related transactions, thereby significantly reducing the transaction cost of Layer 2.
For the ARB chain (Arbitrum chain), Ethereum’s upgrade brings very positive impacts. The ARB chain is one of Ethereum’s Layer 2 scaling solutions, aiming to increase Ethereum network throughput and transaction speed while reducing transaction fees. The Ethereum Dencun upgrade will further improve network performance, providing stronger foundational support for the ARB chain, which will help accelerate its development and adoption.
In the decentralized exchange (DEX) field, the significance of the Ethereum Dencun upgrade is even more profound. DEXs are integral parts of the Ethereum ecosystem, relying on the Ethereum network for trading and settlement. With the implementation of the Dencun upgrade, Ethereum network throughput and efficiency will be enhanced, directly impacting DEX performance and providing users with more secure and efficient blockchain applications and services. DEX platforms can expect faster transaction confirmation times and lower transaction costs, enhancing user experience and attracting more users and liquidity to the space. BLEX is an Index price-feed based Decentralized Perpetual Exchange, and its performance will become even more superior.
The Dencun upgrade, as an important upgrade for Ethereum comparable to the Shanghai upgrade, opens a new chapter for Ethereum L1 sharding, reducing the transmission costs between L1 and L2, achieving lower gas fees, and higher TPS directly benefiting L2 and other related ecosystems. Ethereum’s competitiveness will be further strengthened, and various project tracks will continue to generate long-term value.
About BLEX
BLEX is a decentralized perpetual contract exchange based on the index-based price feeding model, aimed at allowing users to deploy various trading strategies without permission, with low costs, high efficiency, and security while having control over their personal assets.
