The Ethereum layer 2 (L2) landscape is expanding by leaps and bounds in 2023. Accordingly, block space demand for scaling solutions skyrockets and users rush to take advantage of the future. for them.
How will Ethereum scale in 2023?
According to statistical testing from L2Beat, 2023 is truly a year of growth for scaling solutions built on the Ethereum base layer.
On the first day of January 2023, the Ethereum mainnet averaged 13.67 transactions per second (TPS), while the total throughput of scaling solutions was only 4.38.
By December, the story had changed dramatically. The scaling factor of L2 rollups explodes to 5x and even 7x on certain days. On December 15, scaling solutions averaged over 91 TPS when compared to Ethereum’s 13.45.
With a growth trajectory like this, there is little reason not to be optimistic about Ethereum L2. However, the best part is yet to come.
Ethereum L2 chờ EIP-4844
The upcoming Cancun-Deneb upgrade, referred to as Dencun or EIP-4844 for short, is the most anticipated Ethereum upgrade of 2024. Commonly known as Proto-Danksharding, the upgrade aims to save costs 10-100 times more on rollup.
On-chain analyst Leon Waidmann drew attention to the expected drop in gas fees after the upgrade.
Token swap costs on decentralized exchanges (DEXs) are estimated to decrease by up to 90% for networks such as Starknet, Optimism (OP) and Arbitrum (ARB).
It remains to be seen whether such optimistic forecasts will come true. Work on the upgrade is in full swing and developers are keeping an eye out for the testnet launch event on January 17.
Technology for everyone
As is known, rollups help cut fees by bundling thousands of transactions into a single transaction and sending them back to Ethereum for validation.
However, the data will eventually be stored on the chain forever and the cost of storage is factored into the total gas fees.
With EIP-4844, data is sent to nodes on the consensus layer and automatically deleted after a certain period of time. During this time, nodes verify the authenticity of the data.
Therefore, since data is not stored permanently, the storage cost component is eliminated and users will pay a lot less.
