DeFi is About to Change Forever: Ethereum Dencun Upgrade
Sphere Finance Sphere Finance
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 Published On Mar 8, 2024

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On March 13th 2024, Ethereum is set to undergo a major upgrade.

You see, while Ethereum offers one of the most secure and largest networks for blockchain transactions, one of the biggest challenges users face is the high cost of those transactions.

This has driven the majority of retail users away from Ethereum itself and onto Layer 2 networks built on top of Ethereum including Arbitrum, Polygon, and Optimism.

Layer 2 networks provide a means of scaling Ethereum by increasing block space and decreasing transaction times and network fees. Nonetheless, there are times when even these layer 2 networks can experience high gas fees.

This can be off-putting for many users and discouragingly costly for projects. It also raises the barrier of entry for users who simply cannot afford to pay these higher gas fees.

That all will change with the upcoming Ethereum Dencun upgrade.

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