Ethereum Dencun Hardfork Goes Live
The upgrade brings blob transactions that enable cheaper data costs for rollups.
Quick Take
- Dencun goes live on Ethereum mainnet.
- zkSync marks the first L2 to activate blobs.
- Swell announces its ZK-EVM restaked rollup.
- EtherFi unveils plans for a payments L2 network
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Ethereum Dencun Hardfork Goes Live
The Dencun upgrade has been successfully deployed on Ethereum Mainnet, bringing blob transactions to the network. Blobs represent a Type 3 transaction and offer an alternative data storage solution. Blobs are temporarily stored in the consensus layer for a duration of 18-21 days. With an independent gas market for blobs, they provide a more cost-effective data availability for rollups. The Dencun upgrade was initiated at beacon epoch 269568 and finalized a few hours later without issues. The upgrade also brings transient storage EIP-1153, beacon block root in the EVM EIP-4788, MCOPY EIP-5656, SELFDESTRUCT only in same transaction EIP-6780, valid signed voluntary exits EIP-7044, increase max attestation inclusion slot EIP-7045, add max epoch churn limit EIP-7514, and BLOBBASEFEE opcode EIP-7516.
zkSync Marks First Rollup To Activate Blobs
zkSync became the first L2 to enable blob transactions on its network, offering significant cost reductions for its users. Token swaps now incur a cost of about 44 cents, and sending tokens costs around 18 cents on zkSync. Starknet was also swift to add blob transaction support to its rollup within hours of the activation on mainnet. The Ecotone hardfork by Optimism, which brings blob support, was activated approximately 10 hours after mainnet at 5PM PST. Superchain members such as Base, OP Mainnet, Zora, and Mode now support blobs. Arbitrum is set to roll out its ArbOS upgrade on March 14th, which will extend blob support to Arbitrum rollup chains, with a further reduction in fees scheduled for March 18th.
Swell Announces ZK-EVM Restaked Rollup
Swell Network unveiled plans to introduce a new ZK-EVM L2 network built on Polygon CDK. The network will use AltLayer’s restaked rollup framework, aiming to enhance rollup services using EigenLayer. The framework incorporates decentralized sequencing, verification, and fast finality using EigenLayer's Activley Validated Services (AVSs). Focusing on liquid restaked assets, Swell's L2 network will feature native restaking yield and integrations with LRTfi. It will use rswETH as its gas token and will be governed SWELL token holders. The network will use EigenDA for data availability. Swell Network is a liquid restaking token protocol with over $1 billion in total value locked (TVL). AltLayer is a rollup as a service infrastructure provider.
EtherFi Introduces Stake, Liquid, And Cash
EtherFi introduced Stake, Liquid, and Cash, a new product suite leveraging its liquid restaking protocol. Stake, EtherFi’s first product, streamlines staking and re-staking into one service. Liquid, set to launch on Monday, March 18th, is a managed DeFi strategy vault for deploying ETH into DeFi apps with managed risk. Cash, which is in development, will allow users to spend and borrow against their EtherFi balances. Cash will feature an MPC-wallet mobile app and a connected credit card, alongside a planned Layer 2 solution for payment processing and dispute resolution. EtherFi plans to complete its suit development over the next year.
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