Yesterday on 3.12, although there was no "big earthquake" like the previous 3.12, the BTC still fell to 68,600 points in the early morning this morning.

Therefore, the market fluctuations will still be relatively large in the past two days. It is recommended that everyone wait and see.

The core goal of the major upgrade of Ethereum implemented today, the Cancun-Deneb Upgrade, is to enhance the scalability, security, and availability of the Ethereum network, while greatly reducing the gas fee of the second-layer network . After the upgrade is completed, the Gas fees required for digital asset transactions on the Ethereum Layer 2 network will be significantly reduced, perhaps by as much as 14 times. It can be seen that the performance improvement brought by the upgrade will greatly benefit the long-term development of Ethereum. Ethereum Cancun is about to undergo an upgrade, and we can explain it in detail next.

In addition to Layer 2, what other potential bids are there?

First of all, the Dencun upgrade will naturally directly benefit the entire Layer 2 sector. L2 BEAT data shows that the number of Layer 2 currently running is as high as 45, and the number of Layer 2 to be launched on the mainnet is also 34, including Optimism (OP), Arbitrum (ARB), Starknet (STRK), which we are already quite familiar with. Metis (METIS), Manta Pacific (MANTA) and other projects that have issued coins, as well as projects that have not yet issued coins, such as zkSync, Blast, Linea, and Scroll.

With the Dencun upgrade, especially the implementation of EIP-4844, the above-mentioned projects and more Layer 2 that have not been adjusted back will achieve obvious "cost reduction and efficiency increase", allowing the Layer 2 network to smooth out the past expenses in terms of transaction costs relative to Solana and others. Low Layer 1 potential difference. In the long run, the help of transaction costs will help Layer 2 attract and retain more users, and it will also help attract more developers to conduct various development attempts, thus continuing to enhance the vitality of the ecosystem.

In queue Layer 2, zkSync deserves special mention, because zkSync founder Alex Gluchowski has said that they will launch a new expansion solution zkPorter after the implementation of EIP-4844, and zkPorter needs to rely on zkSync’s indirect token to ensure The availability of data may mean that zkSync issuance of coins is not too far away.

In addition to the direct benefit projects located in Layer 2, Dencun upgrade inheritance projects are located in some other related fields and carriers.

Cancun is upgraded, which tracks will it benefit?

1. Arbitrum and Optimism

At present, the Layer-2 project of Ethereum based on the Optimistic Rollup chain has the best performance among all Layer-2 projects. The top three Layer-2s in TVL are all from the Optimistic Rollup ecosystem. Additionally, the combined TVL of Optimism and Arbitrium alone exceeds $24 billion.

Therefore, overall, Arbitrum and Optimism will be able to reap more dividends from reduced transaction fees.

2.Metis

Metis is also an Ethereum Layer 2 platform, which is developed on the basis of Optimism.

As we all know, most Layer 2 projects use centralized sorters, and their drawbacks mainly lie in issues such as single points of failure, malicious arbitrage, and grabbing MEV. Moreover, with the outbreak of Layer 2 ecological transactions, a series of problems brought about by centralized sorters The problem will also become increasingly serious.

Metis will become the first Ethereum Layer 2 to run a decentralized sorter, which solves the shortcomings of a centralized sorter. The significant reduction in gas fees brought about by the Ethereum Cancun upgrade will also benefit the Metis project.

3. LIDO, SSV and ether.fi

The benefits of the Ethereum Cancun upgrade will also benefit projects related to staking (and upstream and downstream), such as LIDO, SSV and ether.fi.

4. EigenLayer

With the continuous development of DeFi, restaking has become a popular narrative at the moment. As a star project in the restaking track, EigenLayer has certainly attracted much attention from the market. Moreover, the project has not yet issued tokens, and the airdrop is expected to be The project brought more users and funding volume.

The benefits of reduced gas costs brought about by the Ethereum Cancun upgrade will of course be passed on to projects such as EigenLayer in the re-staking track.

Summarize

All in all, as the Dencun upgrade gradually becomes a reality, the overall fundamentals of the Ethereum ecosystem will surely improve significantly, and this benefit will also radiate to all components within the Ethereum ecosystem.

In the short term after the upgrade is completed, users may not have any other obvious perceptions other than the reduction in Layer 2 fees, but in the long term, the potential ecological vitality that the Dencun upgrade itself can bring and its foundation as a basis for subsequent upgrades will The undertaking role played by it will undoubtedly promote Ethereum to a new stage of development.

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