Summary
TLDR: The upcoming Dencun upgrade for Ethereum aims to significantly lower transaction fees, with projections of fees dropping as much as 100 times. This upgrade will enhance efficiency and scalability, with the support of Coinbase’s Base layer 2 network and other key development teams. The upgrade introduces new technology to reduce data storage footprint and simplify transaction verification, leading to lower costs. Analysts expect transaction fees to drop to as low as $0.02, making Ethereum more scalable and efficient. This upgrade is anticipated to accelerate the adoption of Ethereum’s roll-up roadmap and make L2 solutions more attractive and competitive.
Key Points
1. The Dencun upgrade for Ethereum aims to significantly lower transaction fees by as much as 100 times, with the support of Coinbase’s Base layer 2 network.
2. The upgrade includes EIP-4844 or proto-danksharding at its core, which is expected to enhance efficiency and scalability in the blockchain industry.
3. The introduction of blob-carrying transactions in the Dencun upgrade is predicted to reduce data storage footprint on the consensus layer, leading to a potential drop in transaction fees to as low as $0.02.
Give space between each key point.