8 pictures to understand the new L2 battle situation opened after Dencun upgrade?

As the most important milestone of Ethereum in 2024, the Dencun upgrade has been officially activated on the main network. The most eye-catching one is the introduction of the EIP-4844 proposal## that carries blob transactions. #, for our ordinary Web3 users, the most intuitive change it can bring is that the Gas fees required for transactions and transfers on L2 will be significantly reduced. You must know that as the most intensely reshuffled Ethereum track, L2 competition has always been fierce. With the subsequent gradual integration of L2,

Who will benefit from the cost reduction and efficiency increase of Dencun upgrade? What impact will it have on the L2 landscape in the future? Therefore, this article aims to use the

Dencun upgrade special page

launched by OKLink to try to get a glimpse of the dimensions from which changes in the L2 competitive landscape can be monitored. , and capture potential signals in time.

How much impact does Dencun upgrade have on L2?

Dencun upgrade includes multiple EIP proposals, among which The core contents include EIP-4844, EIP-1153 (temporary storage), EIP-5656 (MCOPY operation code), EIP-6780 (SELFDESTRUCT operation code), EIP-7044/7055 (pledge improvement). proposal.

EIP-4844 is the cornerstone of this upgrade - it introduces a transaction model carrying Blobs, which means that L2 can choose not to use the traditional calldata storage mechanism in the future.

So what is a carry blob transaction? In short, it embeds a large amount of transaction data into blobs, which can significantly reduce the storage and processing burden of the Ethereum main network.

This approach effectively solves the L1 cost problem related to data availability, ensuring that the L2 platform provides more economical and efficient transactions without compromising the security and safety of Ethereum. The degree of decentralization has an impact.

So to put it bluntly, the biggest change of

blob is that the data uploaded by L2 to L1 is The permanent storage of calldata becomes the temporary storage of Blob, so it is expected to reduce the Rollup cost by 10-50 times (still to be determined), and improve transaction throughput, In addition, since Rollup data will no longer compete for normal block space, the cost of other L1 transactions should also be reduced.

From a data perspective, after EIP-4844, it is expected that the L1 part of the transaction cost of Ethereum L2 will be reduced by about 50%-90%, and may even reach 99% under ideal conditions %.

In the current situation of rising ETH prices and high mainnet Gas, the cost of ETH transfer on L2 is around 0.5 - 1 US dollars, which means that L2 integrating EIP-4844 is expected to be able to The cost is reduced to between US$0.005 and US$0.1. Of course, the actual cost is related to different L2 solutions, ETH price, Gas and other factors, and requires specific calculation.

But at the same time, this also creates a new problem, that is, blob storage is temporary and is available for 4,096 epochs, which is approximately 18 days.

However, projects such as OKLink, which have always been biased towards providing blockchain public goods, have also successively announced that they will be responsible for securely storing all blob data to ensure the security and retrieval of historical data. , in order to support the healthy development of Ethereum and L2 ecosystem, it can be regarded as providing a solution that combines cost and reliability.

8 pictures, panoramic insightDencun upgrade

Here, we combined with OKLink’s Dencun upgrade special page The data provided will allow us to discuss in detail the dimensions from which we can monitor the actual improvement effect and direct impact of the subsequent Cancun upgrade on each L2.

1.L2 handling fee

The first is naturally the handling fee on each L2 network, which is cheaper for L2 end users Trading is undoubtedly the most attractive key point.

As shown in the figure below, Among the current average handling fees of each L2 network before Dencun upgrade, the cost of the overall ZK Rollup system is significantly higher than that of Optimistic Rollup. Department:

Among them, Polygon zkEVM ranks first with $3.67, and zkSync Era leads the cheapest transaction cost with $0.39. Overall, The transaction costs of the Optimistic Rollup system are concentrated between US$0.41 and US$0.97, while those of Starknet, Scroll, etc. are generally more than US$1.5, which is generally more than double the price.

You must know that the total transaction fee of ZK Rollup series L2 before included sending the proof to the Ethereum chain for verification, and with the Dencun upgrade, This cost will drop significantly.

Therefore, we can pay close attention to the impact on the user perception of ZK Rollup - whether actually allows users to perceive a significant decrease in handling fees and improve ZK Rollup is the user attraction of L2.

2.L2 daily transaction number

On this basis, the daily transaction number of each L2 becomes the most intuitive data of "users voting with their feet".

OKLink data shows that except for Linea and zkSync, whose daily transaction numbers have exceeded 1 million, the daily transaction numbers of other L2 companies are hovering between 8,000-900,000.

If Dencun upgrade is completed, which L2 daily transaction number will be the first to surge and break through The original bottleneck means that the EIP-4844 upgrade directly affects the corresponding solution, so it benefits from it.

3.L2 daily transaction volume

L2 daily transaction volume is observed from the same angle as L2 daily transaction number. Currently, except for Arbitrum and zkSync daily Except for maintaining above 100,000 ETH, other L2s are far behind.

##4.L2 TPS

The optimization of TPS means development Greater flexibility for people to build and deploy dApps is expected to lead to more complex, data-intensive applications that will appeal to a wider user base.

Therefore

The impact of the Dencun upgrade on each L2 TPS deserves special attention, especially on Polygon zkEVM (approximately 0.09 transactions/second) and Manta Pacific (approximately 0.5 Pens/second), etc. TPS base itself is low L2:

Compare Arbitrum, zkSync and other TPS with more than 10 transactions/second, Even if it is the same order of magnitude improvement, the effect may be several times or even dozens of times worse, It also depends on whether it can expand consumer application scenarios that support high throughput and low transaction costs.

5.L2 address overview

In each L2 address overview, The change in the number of contract addresses is directly related to the practicality and influence on ecological projects and partners.

The total number of active addresses indicates whether it can continue to attract a diverse user group and attract more incremental users through this upgrade.

#6.L2 TVB

First of all, let’s clarify the definition of TVB. That is, it mainly refers to the amount of ETH transferred from Ethereum to each L2 every day. The data of the previous day is updated at 00:00 every morning. The data in this dimension can directly be seen

After the Dencun upgrade, the attractiveness of each L2 to the ETH stock of the Ethereum main chain - the attraction becomes greater , the number of TVBs will obviously increase; if the attraction decreases, the number of TVBs will most likely decrease. Judging from the internal competition of L2, it may be a zero-sum state of ebb and flow. Of course, if the whole is growing, it means that Dencun upgrade is attractive to L2 as a whole. The improvements are quite significant, thus attracting Ethereum main chain users to migrate ETH to L2.

7.L2 TVL

Currently the TVL of Arbitrum and Optimism is almost out of sync in all L2 existence, so if anyone can seize the opportunity of this Dencun upgrade and attract more users and funds, they may not be able to complete a jump.

8.L2 currency price

Changes in all the above dimensional data , what ultimately affects the actual performance of the currency price, whoever can be far ahead in the performance of the secondary market after the Dencun upgrade will undoubtedly be the biggest winner.

L2’s new battle has just begun

 Overall, for us ordinary users, the Dencun upgrade’s subsequent disruption to the L2 track competition pattern is far from the end. And it is precisely the beginning of a new battle. <br><br><span style="font-size: inherit; font-family: PingFang SC,Helvetica Neue,Helvetica,Arial,Hiragino Sans GB,Heiti SC,Microsoft YaHei,WenQuanYi Micro Hei,sans-serif;">Times have changed. Now with the start of a new cycle, the burning L2, combined with the Dencun upgrade to further reduce costs and TPS, means that many previously restricted chains Use cases such as derivatives can be gradually implemented, so it is not impossible to spawn a new round of DeFi Summer. </span><span style="font-size: inherit; font-family: PingFang SC,Helvetica Neue,Helvetica,Arial,Hiragino Sans GB,Heiti SC,Microsoft YaHei,WenQuanYi Micro Hei,sans-serif;"></span>

Especially the data changes in the above dimensions,

paves the way for higher transaction throughput and enhanced scalability, directly enabling the Ethereum ecosystem The ability to support a wider range of applications and services, thereby attracting a wider user base.

Who will be the biggest winner?

Currently we don’t know, but using data tools to continuously track and fully grasp the data changes on the chain corresponding to L2, it is possible to

deeply participate in the new developments of L2 The landscape changes and seize potential layout opportunities to profit from them.

The above is the detailed content of 8 pictures to understand the new L2 battle situation opened after Dencun upgrade?. For more information, please follow other related articles on the PHP Chinese website!