jakiro
Due to the crazy increase of Bitcoin, this round of bull market was also nicknamed the “Bitcoin bull market”.Since the approval of Bitcoin ETF, a large amount of funds have poured into the Bitcoin ecosystem. This is an unprecedented phenomenon of bull market. MEME relay Bitcoin has continued to rise, and the remaining cryptocarios such as AI and Gamefi took turns, but L2 seemed to be asleep.
On March 13, according to EtherScan data, the height of the Ethereum main network block has reached Dencun upgraded EPOCH (269568).
The main goal of the “Dencun” upgrade is to enhance the scalability and modularization of the L2 network, enhance the security function of the Ethereum network, and improve the overall availability.The most watched proposal is the EIP-4844 (Proto-Danksharding), which is the front plan of the full version of the fillet expansion of Danksharding.Increase throughput and pave the way to achieve a complete piece.
Simply put, Dencun’s biggest favorable factor is to reduce the cost of L2’s transaction costs.
Eric.eth, the core developer of Ethereum, once said that the landing of EIP-4844 will lead to the GAS cost of the Ethereum L2 transaction will be reduced to about $ 0.01.According to the website launched by Optimism, the transaction cost of executing a SWAP on UNISWAP will be reduced from a real -time $ 0.59 to 0.01 US dollars.
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The market rotates to Ethereum and Cottage
According to the chain analyst@0xcryptochan, when the price of Bitcoin continues to rise, the BTC holders who hold the currency on the chain are more than 155 days.The direction outside Bitcoin transfer.
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Under the dual expectations of Decun upgrade and Ethereum ETF, Ethereum rose from $ 2,300 to $ 4,000.Now Dencun has been activated by the main network and GAS is reduced. It is expected that users will involve more applications and increase their chain activities.
Because of this, some people in the community believe that EIP-4844 will reduce the overall income of Ethereum.
Although the cost of DA payment on Ethereum is indeed reduced, this reduction is unlikely to have a significant impact on the total cost of Ethereum.L2’s DA cost only accounts for about 7-10%of the total cost of Ethereum.For example, in February 2024, only 33 million US dollars were attributed to L2 on Ethereum on Ethereum in the total cost of $ 355 million.
In addition, with the full outbreak of the airdrop boom, the lower GAS costs on L2 may further inspire the airdrop farmers to increase their chain interaction to increase their opportunities to distribute.In turn, the increase in this activity may increase the overall value generated in the network, which benefit Ethereum and its ecosystem.
On the other hand, according to @chesng_shutong, it can be seen from the contract rate rate that the rate of most cottage coins has reached 100% or even higher, indicating that most of the retail investors have broken through the new high in Bitcoin and Ethereum.Under the stimulus, the collective replenishment of the Cottage.
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Dencun or benefits RaaS market
One point of view is that after the upgrade of Cancun, more DAPPs will independently make a Rollup, which will help the prosperity of the RAAS market.Earlier, Charles D’Haussy, the CEO of the Dydx Foundation, also told Blockbeats that if ecological technology wants to develop further, it needs to build its own chain.
Dencun’s speculation selling points are essentially three key enhanced functions of EIP-4844 and BLOB carrying transactions.In addition to reducing transaction costs, it also includes enhanced the scalability of Ethereum, and enables the community to test the capacity of data loads added in the production of Ethereum networks, and prepare for a comprehensive segment upgrade.
Compared with the existing method, EIP-4844 and BLOB carrying transactions can use block space more effectively.In addition, because BLOB is completely a different type of transactions, they have their own cost markets and will not be affected by the increase in conventional trading activities on the Ethereum.
Bankless analyst pointed out in an article that in the long run, as L2 becomes cheaper, it will open up design space for the unique application on it.For example, many high throughput requirements, such as AI and DEPIN projects, can be built on L2 or even L3.
L2 is still not the opponent of Solana?
According to L2Beat data, as of the writing, after the Cancun upgrade, the DA layer has switched to the Ethereum main network Blob in the head L2. There are Optimism and Base of ZKSYNC and StarkNet, Optimistic Rollup.According to the measured, after switching, the GAS fee of the four L2 dropped by 1 magnitude.
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But @0xning0x said that the existing GAS fee is reduced, which is achieved when DA consumes large households such as Arbitrum, Blast, etc., and the current DA costs are still two more expensive than Celesita DA.
In addition, Arbitrum said that Arbos Atlas also introduced additional Arbitrum cost reduction for Arbitrum One, which will be activated on March 18.After activation, the remaining cost of each compressed byte of L1 will be reduced from 32 GWEI to 0, and the minimum basic cost of L2 will be reduced from 0.1 GWEI to 0.01 GWEI.
Therefore, the specific effectiveness of Dencun’s upgrade needs to wait for all head L2 to switch the DA layer one after another, and the Rollup parameter adjustment and the market competition strategy game balance before judge.
And from the current market performance, Ethereum and GM L2 have not increased much.@0xning0x believes that after the upgrade of the Cancun, the business model of the main network of Taifang will focus on selling block space, and the income of the application of layers will be transferred to the general L2.It can be universal L2 team is seriously ideologized and is not an opponent of competitive chain such as Solana.
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The price of SOL has been steadily rising in this round of cycles, and even the tokens of the entire Solana ecological project have ushered in a general rise. The other ecological projects have followed the steps of Solana.The plate blooms together, so that Solana’s TVL has risen all the way, as of the time of writing, TVL reached 3.6 billion US dollars.
