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Dencun Upgrade

All articles tagged with #dencun upgrade

cryptocurrencyblockchain-technology1 year ago

"Ethereum's Dencun Upgrade Boosts Scalability with Atlas Integration, Ether Dips 0.5%"

The Dencun upgrade on Ethereum Layer-2 networks like Optimism, Zora, and Base has significantly reduced transaction costs, with some fees now appearing as less than a penny. This upgrade introduced proto-danksharding, allowing for the division of data into smaller pieces to process it more efficiently, resulting in lower operational costs for L2 networks and cheaper transaction costs for users. However, some experts caution that these low costs may not be sustainable as demand for the new data storage method, known as blobs, increases over time.

via Decrypt|
#cryptocurrencyblockchain-technology#dencun-upgrade#ethereum
cryptocurrencyblockchain-technology1 year ago

"Ethereum's Dencun Upgrade Drives Significant Cost Reduction for Layer 2 Blockchains"

Ethereum's Dencun upgrade has led to a significant decrease in transaction costs on layer 2 solutions like Optimism and Base, with the average fees dropping to just a few cents. The upgrade allows layer 2 solutions to store data in "blobs" instead of expensive call data, resulting in lower processing costs. While the upgrade is expected to eventually reduce transaction costs by 90%, it has not yet boosted investor interest in the native tokens of rollups.

via CoinDesk|
#cryptocurrencyblockchain-technology#dencun-upgrade#ethereum
cryptocurrencyblockchain-technology1 year ago

"Ethereum's Dencun Upgrade Triggers Plunge in Gas Fees and Ether Dip"

Following Ethereum's Dencun upgrade, which significantly reduced data fees, developers have posted the entire script of the Bee Movie on the blockchain at a much lower cost using the new "blobs" feature designed for layer 2 networks. This has led to a drop in data fees on the Ethereum network, with fees on layer 2 network Optimism being less than a cent and Base blockchain reporting a 99.8% drop. Blobs provide a cheap way to temporarily store data about transactions, and the uploaded data exists on the network for about eighteen days before being permanently removed.

via CoinDesk|
#bee-movie-script#blockchain#cryptocurrencyblockchain-technology
cryptocurrencyblockchain1 year ago

"Ethereum's Dencun Upgrade: A Game-Changer for Gas Fees"

Ethereum's Dencun upgrade, a combination of the "Cancun" and "Deneb" upgrades, aims to reduce gas fees for Layer 2 networks by implementing EIP-4844, which improves the blockchain's data handling. This upgrade will significantly lower gas fees for transactions on decentralized exchanges, potentially dropping costs to as low as a fraction of a cent. While the main Ethereum network won't see fee reductions until 2026–2027, experts believe the upgrade will have a positive impact on Ether's price, potentially leading to a surge in mainstream applications and development potential.

via Fortune|
#cryptocurrencyblockchain#dencun-upgrade#eip-4844
cryptocurrency1 year ago

"Ethereum's Dencun Upgrade: MATIC, ARB, METIS Lead Gains as Blast Halts Blocks"

Layer 2 cryptocurrencies experienced mixed performance as Ethereum's Dencun upgrade went live, with tokens of Polygon, Arbitrum, and Starknet leading gains while Immutable X and Celo declined. The upgrade is expected to reduce transaction costs on layer-2 protocols and attract more applications, but there are concerns about a potential correction in the crypto markets as anticipation for the upgrade wanes and the probability of a spot ether ETF being approved in the U.S. diminishes.

via CoinDesk|
#arbitrum#cryptocurrency#dencun-upgrade
cryptocurrencytech1 year ago

"Ethereum's Dencun Upgrade Causes Outage, Promises Fee Reduction"

Ethereum layer-2 scaling network Blast experiences block production halt following Ethereum's Dencun upgrade, but the issue is resolved within an hour. Despite the setback, Blast has seen an increase in total value locked (TVL) to over $2.9 billion as users capitalize on DeFi protocols and potential token airdrops. The Dencun upgrade aims to reduce costs for layer-2 network usage by allowing temporary storage of information.

via Decrypt|
#blast#cryptocurrencytech#dencun-upgrade
cryptocurrencyblockchain1 year ago

"Ethereum's Dencun Upgrade: Blockchain Locks, Reduced Fees, and Bee Movie on Mainnet"

Blast, a layer-2 blockchain built on Ethereum, experienced a one-hour mainnet freeze during Ethereum's Dencun upgrade, causing a halt in block production. Competitor Arbitrum announced a 24-hour integration period for the upgrade to reduce Ethereum fees. Despite the freeze, Blast's largest protocol, Orbit Finance, saw a 32% increase in total value locked, but its native token's value plunged by over 20% after being issued on March 8.

via CoinDesk|
#blast#cryptocurrencyblockchain#dencun-upgrade
cryptocurrencyblockchain-technology1 year ago

"Dencun Upgrade: Ethereum's Game-Changing Era Begins"

Ethereum's Dencun upgrade has successfully gone live, marking a significant milestone for the blockchain. The upgrade is expected to substantially lower transaction costs across layer-2 networks and expand the blockchain ecosystem's capabilities. Gas fees on layer-2 networks are anticipated to immediately drop by 75%, with the introduction of proto-danksharding allowing for temporary on-chain data storage. Developers believe Dencun will revolutionize the Ethereum ecosystem, making it more efficient and capable of processing unprecedented amounts of on-chain traffic, potentially eliminating gas fees altogether.

via Decrypt|
#cryptocurrencyblockchain-technology#dencun-upgrade#ethereum
cryptocurrency1 year ago

Ethereum's Dencun Upgrade: Gains, Reduced Fees, and Block Production Impact

Ethereum's upcoming Dencun upgrade has led to significant gains for layer-2 scaling solutions like Arbitrum, Optimism, and Polygon, with Arbitrum's ARB token rising 11% and holding 41% of the L2 scaling marketshare, while Optimism's OP token has gained 3% and Polygon's MATIC token has surged 18% in the past week. The upgrade is expected to reduce transaction fees by as much as 75% for L2 users, and Ethereum's ETH is trading at $4,055.30, up 1.2% in the past day and 6.5% higher than last week.

via Decrypt|
#arbitrum#cryptocurrency#dencun-upgrade
cryptocurrencydefi1 year ago

"Ethereum's Dencun Upgrade: Making DeFi More Affordable"

Ethereum's upcoming Dencun upgrade, including EIP-4844, is set to significantly reduce transaction fees on layer 2 blockchains, making DeFi activities much cheaper. MakerDAO is adjusting borrowing rates after its peg-stability mechanism nearly ran out of funds, and Jito Labs has suspended its mempool to prevent MEV bots from exploiting Solana traders. Additionally, the demand for US dollar leverage in DeFi is increasing, as evidenced by the high utilization of lending protocol Compound's USDC pool.

via DLNews|
#cryptocurrencydefi#defi#dencun-upgrade
cryptocurrencyblockchain1 year ago

"Ethereum's Dencun Upgrade: Cutting Costs and Boosting DeFi Accessibility"

Ethereum is gearing up for the Dencun upgrade, set to reduce fees for layer-2 networks by introducing "proto-danksharding," a new method for storing transaction data. The upgrade, delayed from its original target, will benefit networks like Arbitrum, Optimism, and Polygon, allowing them to post data to Ethereum more efficiently and reduce fees for end-users. Additionally, it will benefit data availability layers and pave the way for future upgrades like Electra + Prague. The upgrade is expected to significantly lower fees for layer-2 transactions and bring about a new era of cheaper fees for Ethereum's auxiliary networks.

via CoinDesk|
#cryptocurrencyblockchain#dencun-upgrade#ethereum
cryptocurrency1 year ago

"Ethereum Surges to 22-Month Highs Ahead of Dencun Upgrade and Potential ETF Approval"

Ethereum (ETH) reaches a 22-month high at $3,151, with open interest hitting a multi-year high and funding rates at their highest levels since early January, indicating rising speculative interest and hedging. The upcoming "Dencun" upgrade aims to address scalability issues with the blockchain, potentially making transactions faster and cheaper. Traditional Wall Street firms are seeking approval for an ETH exchange-traded product, with expectations of a spot ETH ETF approval by May, potentially driving the asset's price above $4,000 per coin.

via Decrypt|
#blockchain#cryptocurrency#dencun-upgrade
cryptocurrency1 year ago

"Ethereum Surges Past $3,000 with Bullish Momentum"

Ethereum has surged past $3,100 amidst growing anticipation for potential spot Ethereum ETFs and the upcoming Dencun upgrade scheduled for March 12, which aims to enhance its speed and compatibility. The rally may also be influenced by the broader excitement in the crypto market, including the upcoming Bitcoin halvening in April. Analysts are closely monitoring key psychological levels such as $3,500 and $4,000 as Ethereum continues its upward trajectory, while also observing the potential for Solana to establish support levels following its recent consolidation.

via Yahoo Finance|
#cryptocurrency#dencun-upgrade#ethereum
cryptocurrency1 year ago

"Ethereum's Price Surge and Network Upgrades Set Stage for Historic 2024"

Ethereum has surged 28% this month, reaching $2,910, ahead of the upcoming Dencun upgrade aimed at improving speed and cost efficiency. Optimism for a potential Ethereum ETF approval by the SEC has also contributed to the bullish sentiment. Traders are showing increased confidence through climbing open interest in futures contracts, but caution is advised due to potential liquidation events. While trading volume has slowed, layer-2 scaling networks like Arbitrum and Optimism are experiencing record transaction totals, with the total value of assets locked on layer-2s reaching an all-time high of nearly $27 billion.

via Decrypt|
#cryptocurrency#dencun-upgrade#ethereum
cryptocurrency2 years ago

Crypto Options Surge: $20 Billion in Bitcoin and Ether Activity

The notional open interest in bitcoin and ether options contracts on Deribit has reached $20.64 billion, nearing the peak recorded in November 2021. This milestone reflects the growing interest in options trading and the overall market expansion. Additionally, Goldman Sachs predicts that Ethereum's Dencun upgrade, expected in Q1 2024, will enhance the blockchain's scalability and reduce transaction costs for layer-2 rollups. Meanwhile, FTX founder Sam Bankman-Fried testified in his criminal trial, defending his company's bankruptcy filing. Bitcoin's price has decoupled from Wall Street's tech-heavy index, with a 34% increase since early September.

via CoinDesk|
#bitcoin#cryptocurrency#dencun-upgrade