Ethereum’s activates Dencun upgrade: Blobs are active now

• Ethereum core developers implemented the Dencun upgrade on the mainnet, introducing "blobs" to reduce transaction costs on Layer 2.

• The upgrade, including EIP-4844, was activated at epoch 269568, around 10 am ET.

• Ethereum Layer 2 rollups can now use blobs instead of the "calldata" method, directly reducing fees for end users.

• Blobs aim to enhance data availability without impacting current infrastructure, benefiting Layer 2s like Base, Optimism, Arbitrum One, zkSync, and Starknet.

• A separate fee market for blobs will maintain low transaction costs for Layer 2s, even during network congestion.

• While some Layer 2 chains plan immediate integration of blobs, others may take time.

• Other improvements with Dencun include EIP-4788, introducing an "enshrined oracle" to improve communication between Ethereum's execution and consensus layers.

• EIP-1153 focuses on "transient storage," necessary for the launch of Uniswap version 4 this year.

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