TL;DR
Full Story
On Wednesday, the Ethereum mainnet was upgraded — and to this point, it is wanting prefer it was a mighty success!
Which makes us suppose this improve could possibly be an enormous catalyst for Web3 mass adoption.
Hear us out:
The Dencun improve allowed for Layer 2’s (aka L2’s, aka sooner n’ cheaper blockchains constructed on prime of the Ethereum community) to maneuver knowledge extra effectively, and in flip decrease their prices/enhance their pace much more.
Now — not all L2’s had the tech to make the most of this improve but, however those who did have already been fist bumping about their successes.
For instance:
Charges on the ‘Base’ L2 dropped from $0.31 to $0.0005, after the improve.
And decrease costs open the flood gate for innovation.
Consider it like this: If the Ethereum mainnet is an iPhone, the layer 2’s are the apps you obtain.
When it turned straightforward/low-cost to create, add and set up apps — two issues occurred:
Extra individuals began making apps and sharing their concepts.
Extra individuals bought iPhones to make use of stated apps (onboarding them into the Apple ecosystem within the course of).
So with charges dropping to beneath the price of a penny, extra individuals will decide to check and innovate on Ethereum.
And because the tech turns into extra streamlined, extra individuals can come to play.
Very cool!
