Leading figures behind layer-2 teams told CoinDesk how Ethereum's upcoming Dencun upgrade will affect their networks – and costs.
Ethereum's milestone Dencun upgrade, expected next week, is expected to result in lower costs for layer-2 blockchains to stash data on the main blockchain – a reduction that's likely to be passed along to users of the auxiliary networks in the form of lower fees.
CoinDesk spoke with Polygon's Jordi Baylina, Arbitrum's Steven Goldfeder, StarkWare's Eli Ben-Sasson and Base's Jesse Pollak to get their predictions on the impact.
Ethereum developers are gearing up for the blockchain's next big upgrade happening next week, called Dencun.
It's supposed to issue in a new era of lower costs for "layer-2" blockchains, including so-called rollup networks that aim to offer faster and cheaper transactions than on the main blockchain. But just how much lower?
Dencun will be the biggest upgrade – technically a "hard fork" in blockchain parlance – that the network will undergo in almost a year.
The main component in Dencun is called EIP-4844, or more commonly “proto-danksharding,” which will bring in a new type of transaction class that reduces the costs of publishing data of transactions on rollups, through the introduction of data “blobs.” These blobs are a separate place in a transaction where rollup networks or other protocols could temporarily stash data – sometimes described as a "side car" that doesn't take up space in the main car.
As a result of more blobs, the costs for these layer-2 networks to stash data on Ethereum will be significantly cheaper, and the reduction is likely to trickle down to users in the form of lower fees.
But how exactly it will all shake out is still ambiguous, according to many Ethereum experts. We asked leading layer-2 teams, including Polygon, Arbitrum, StarkWare and Coinbase's Base, for their predictions post-Dencun.
Polygon.
Polygon co-founder Jordi Baylina told CoinDesk in an interview at the ETHDenver conference last week in Colorado that “prices should go down mainly because it's a matter of supply and demand. Your supply is bigger, the data availability on Ethereum is going to be bigger, so the price should go lower."
“By how much? We don't know, it's difficult to predict,” Baylina said. He mentioned that he welcomes the upgrade as its an important first step in the roadmap that Vitalik Buterin laid out, focusing on activity moving to rollups in order to scale the blockchain.
Brendan Farmer, another co-founder of Polygon, added that there will be different benefits for zero-knowledge (ZK) rollups and optimistic rollups – the two major types. For optimistic rollups, “you have to pay for proving that data exists in the seven-day delay, but for ZK rollups, these costs are very, very low,” Farmer added.
(Polygon's latest tech, it might be inferred, relies on the ZK rollup.)
Arbitrum.
Steven Goldfeder, the co-founder of Offchain Labs, the developer firm behind the layer-2 network Arbitrum (an optimistic rollup), said that Dencun will "expose something very, very interesting, which has been sort of the backdrop for a few years and what that is, it helps an L1 fees,” Goldfeder told CoinDesk at ETHDenver.
“We also pay the layer-2 and if you think about it, the reason why is because there are certain operations that use a lot of data on layer 1 and use nothing on layer 2, and there are certain...
https://www.coindesk.com/tech/2024/03...
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