The early signs suggest the Dencun upgrade is a huge success, with transaction fees on layer-2 networks falling by a factor of 10.
A week on from the launch of Dencun, Ethereum’s latest update appears to be meeting expectations and, in some instances, surpassing them.
“The timing for Ethereum to launch its Dencun update wait any longer,” Gallagher told Cointelegraph. “It’s undeniable that Solana is growing its market share away from Ethereum, particularly in the new token launch, on-chain DEX swaps and NFT arenas, where retail traders tend to hang out.” Previous upgrades to the Ethereum network have attempted to improve the speed and scalability of Ethereum’s base layer. The most significant of these was the Merge, which occurred on Sept. 15, 2022, and completed Ethereum’s transition from proof-of-work to proof-of-stake.
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