The cost of using zkSync Era, a popular Layer 2 (L2) scaling solution for Ethereum, has significantly decreased by 88% following the recent Dencun upgrade. This improvement comes courtesy of a switch from the expensive "calldata" method to the more efficient "blobs" for data transfer.
Source: twitter.com/donnoh_eth
According to data revealed by L2BEAT researcher donnoh.eth, the cost of running the zkSync Era sequencer using calldata was previously around 0.115 ETH. However, with the adoption of blobs, this cost has plummeted to roughly 0.013 ETH.
Read more: Ethereum Price Dips After Dencun Upgrade, Is This a Normal Reaction?
A Boon for L2 Scaling
zkSync Era is the first L2 network to leverage blobs, with Starknet offering support as well. This technology is expected to be adopted by other L2 projects in the near future.
The significance lies in the cost reduction associated with "blobs." Unlike calldata, which stores transaction data directly on the Ethereum blockchain, blobs offer a more cost-effective way to store this information. This approach significantly reduces the overall fees associated with using L2 solutions like zkSync Era.
Ethereum's Dencun Upgrade
The Dencun upgrade on the Ethereum network plays a crucial role in enabling this cost reduction. With this upgrade, L2 networks can update their versions to support EIP-4844, which facilitates the transition from the expensive calldata method to the more economical blobs for data transfer.
Lower Fees, Wider Adoption
This development is a significant step towards achieving lower transaction fees on the Ethereum network. As L2 solutions like zkSync Era become more affordable, user adoption is expected to increase, paving the way for a more scalable and cost-effective blockchain ecosystem.
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Disclaimer: This response provides information based on available data and general analysis. It does not constitute financial advice. Always perform your own due diligence and consult with a professional financial advisor before making investment decisions.