Ethereum Developers Activated Dencun Upgrade, ETH Price Ready for ATH
The highly anticipated Dencun upgrade has dramatically reduced Ethereum’s Layer-Two (L2) transaction fees, thus enabling mass adoption of Web3 platforms.
The Ethereum (ETH) network has over the years improved its infrastructure to seamlessly on-board millions of web3 users around the world. After successfully transitioning from the power-hungry Proof-of-Work (PoW) consensus to a more sustainable Proof-of-Stake (PoS) method through the merge event and the Shanghai upgrade, the Ethereum network has doubled further.
On Wednesday, the Ethereum core developers activated the much-awaited Dencun upgrade on the mainnet at epoch 269568.
As a result, the Ethereum-based layer two (L2) networks – led by Arbitrum (ARB), Optimism (OP), Polygon (MATIC), and Starknet (STRK), among others – can now offer competitive transaction fees.