L2 Ethereum fees down sharply thanks to Dencun

Following the deployment of the update Dencun on Ethereumthe fees on layers 2 Optimism, Base or zkSync have very significantly decreased.

Dencun was successfully deployed on the Ethereum mainnet at around 3 p.m. on Wednesday. The main aim of the hard fork was to lower costs on Layer 2 solutions such as Base and Optimism, thanks to EIP 4844 (proto-danksharding).

And according to data provided by Dune, the update has had the desired effect, since costs on L2 have been sharply compressed, sometimes dropping by more than 95%.

Source: Dune

Network fees on Optimism, which used to be around $0.7 per transaction, now average $0.08. For Base, Coinbase’s layer 2, fees have fallen to $0.06, compared with around $1 yesterday.

Matter Labs’ zkSync solution, meanwhile, is now charging an average of $0.15 per transaction, a drop of around 60%.

Dencun enables layers 2 to store data in “blobs” rather than using the so-called “Calldata” method. The new mechanism aggregates and compresses transactions before sending them to the main network, thus lowering transaction costs.

Blobs are live on Ethereum Mainnet!

The Dencun fork finalized without issues and the network has been running stably since then. We can see healthy blob propagation statistics (expect a deeper analysis over the next weeks).

Congrats to all the client teams and contributors! https://t.co/An41Tp2PC3 pic.twitter.com/BSZFkPwhSc

– parithosh | 🐼👉👈🐼 (@parithosh_j) March 13, 2024

Arbitrum fees have not decreased, as the popular layer 2 has not yet integrated blobs into its network. It should add the mechanism today.

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