Summary
Fees on layer 2s like Arbitrum have surged to $1 per transaction, but the upcoming Dencun upgrade is expected to lower costs to cents.
Key Points
1. Fees on layer 2s, such as Arbitrum, have surged, with transactions costing as much as $1, the highest since 2022.
2. The upcoming Dencun upgrade is expected to lower transaction costs on layer 2s to cents, providing a quick fix to the issue of high fees.
3. The Dencun upgrade is designed to scale the Ethereum network and improve overall transaction efficiency on layer 2 solutions.