Base network flyer and logo

Base Network Sees Remarkable Growth

Coinbase-backed Layer 2 network Base exceeded a total value locked (TVL) of $2 billion with a 43.61% gain last week. This milestone indicates the network’s rising popularity, particularly among memecoin projects and airdrop events. Base, built on the Optimism rollup solution, preserves Ethereum’s solid security while enhancing transaction speed and lowering costs, hence contributing significantly to Ethereum’s scalability.

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Ethereum and scaling instruments

Blockchain Expert Debunks Claims of Ethereum’s Dencun Upgrade Scaling with Blobs

Blockchain expert Justin Bons has countered assertions regarding the scalability benefits of Blobs, a key feature of Ethereum’s latest Dencun upgrade. In a detailed post on X, Bons argued that Blobs do not contribute to scaling Ethereum itself but rather aid in scaling Layer 2 solutions. He cautioned against misconceptions, highlighting potential vulnerabilities in existing Layer 2 networks like Arbitrum, Optimism, Blast, Starknet, and Base, suggesting they could compromise user funds and censor transactions.

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Ethereum logo showing the word fees cut with scissors

Significant Drop in L2 Network Transaction Fees Post-Dencun Upgrade and EIP-4844 Implementation

Following the Dencun upgrade and the implementation of EIP-4844, transaction fees across Layer 2 (L2) networks have seen significant reductions. In the past hour (9:00-10:00 UTC+8), various L2 solutions such as Optimism, Base, Arbitrum, and zkSync Era witnessed substantial drops in average and median transaction fees.

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Ethereum logo and a hand pressing UPGRADE

Ethereum Dencun Upgrade to Drastically Reduce L2 Gas Fees with EIP-4844

After the Ethereum Dencun upgrade this week, EIP-4844 is set to revolutionize the landscape of Layer-2 (L2) gas fees, bringing significant reductions across various L2 networks. Arbitrum, Optimism, and Base are all expected to see drastic reductions in gas fees for decentralized exchange (DEX) swaps.

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