
Following the recent Decun + Atlas upgrade, Ethereum's ecosystem has seen significant advancements, particularly in the realm of Layer 2 (L2) networks. Ethereum founder Vitalik Buterin, speaking at ETH Taipei, expressed his surprise at the increased usage of L2 solutions post-upgrade. The upgrade, which introduced Proto-Danksharding, has notably reduced transaction fees across various platforms. For instance, transaction fees on Arbitrum have dropped to just 1 cent, while Optimism has seen its average transaction cost plummet from $0.23 to less than a cent. This drastic reduction in fees is attributed to the Decun + Atlas upgrade's efficiency improvements. Additionally, the upgrade has led to a surge in daily transactions on Ethereum rollups, with some networks experiencing a doubling or tripling in activity. The impact of these developments is far-reaching, with Chainlink reporting a 99% reduction in gas costs for publishing oracle reports on L2 rollups. This period of innovation has also sparked a focus on L2 solutions in crypto funding, highlighting the sector's growing importance.



CRYPTO FUNDING: Layer-2s were a fundraising focus a week after Ethereum’s Dencun upgrade https://t.co/tBBLUmffVo
I think the best way to reason about L2s is to think of them as simply smart contracts with isolated state and order sequencing preferences rather than stand alone chains. Eventually, when liquidity across various L2s unify, that will be the standard way to reason about them.
Congratulations to the #Ethereum ecosystem on the recent Dencun upgrade, which introduced Proto-Danksharding. After the upgrade, the gas costs for publishing #Chainlink oracle reports on L2 rollups, such as @arbitrum, @base, and @Optimism, dropped by up to 99%. https://t.co/EGAA4oNzmY