Tag: Arbitrum

Arbitrum (ARB), a Layer 2 token, plummeted 14% immediately after more than a billion tokens were released onto the market. According to the website 21milyon.com, ARB traded at $1.9 on March 16. However, prices began to fall sharply following the projected conclusion of the token supply release.

Blockchain expert Justin Bons has countered assertions regarding the scalability benefits of Blobs, a key feature of Ethereum’s latest Dencun upgrade. In a detailed post on X, Bons argued that Blobs do not contribute to scaling Ethereum itself but rather aid in scaling Layer 2 solutions. He cautioned against misconceptions, highlighting potential vulnerabilities in existing Layer 2 networks like Arbitrum, Optimism, Blast, Starknet, and Base, suggesting they could compromise user funds and censor transactions.

Following the Dencun upgrade and the implementation of EIP-4844, transaction fees across Layer 2 (L2) networks have seen significant reductions. In the past hour (9:00-10:00 UTC+8), various L2 solutions such as Optimism, Base, Arbitrum, and zkSync Era witnessed substantial drops in average and median transaction fees.

After the Ethereum Dencun upgrade this week, EIP-4844 is set to revolutionize the landscape of Layer-2 (L2) gas fees, bringing significant reductions across various L2 networks. Arbitrum, Optimism, and Base are all expected to see drastic reductions in gas fees for decentralized exchange (DEX) swaps.