• CoinSnacks
  • Posts
  • Ethereum Network Completes Dencun Upgrade

Ethereum Network Completes Dencun Upgrade

The upgrade introduces “blobs” to reduce Layer 2 transaction costs.

Author

Luke Ostapchuk
March 13, 2024 • Estimated Reading Time: 2 minutes

The Ethereum Network just announced the successful completion of its “Dencun” upgrade, the network’s biggest upgrade since The Merge.

Without getting into the technical jargon, here’s what you need to know:

  • Consider Dencun as just another step in Ethereum’s big roadmap of becoming more scalable, efficient, and secure.

  • This most recent upgrade reduces transaction fees on Layer 2s (L2s), such as Arbitrum, Polygon, Base, Optimism, etc.

For users → it will now be cheaper to use Ethereum L2s.

For developers → it makes Ethereum more attractive to build on and will likely boost the development of new apps and chains on the network.

If you’re a simple buy-and-hold investor, there’s nothing you need to worry about on your end. The warm, fuzzy feeling you might have of owning a crypto commodity that is actively improving is justified.