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Ethereum's Dencun Upgrade Lowers Data Fees, Allowing Developers to Post Bee Movie Script on Blockchain at Lower Cost

Ethereum's Dencun Upgrade Lowers Data Fees, Allowing Developers to Post Bee Movie Script on Blockchain at Lower Cost

CointimeCointime2024/03/14 07:33
By:Cointime

The recent Dencun upgrade of Ethereum has led to a significant reduction in data fees, resulting in developers being able to post the entire script of the Bee Movie on the blockchain at a much lower cost. The new "blobs" feature is specifically designed for layer 2 networks, providing a cheaper and temporary way to store data, which has lowered fees for networks like Optimism and Base blockchain. As a result of the reduced data fees, Ethereum developers have been having some fun on the blockchain by posting the Bee Movie script for a fraction of the usual cost. The blobs feature allows for temporary data storage for about eighteen days, after which it is permanently removed, and is primarily designed for layer 2 networks that run on top of Ethereum. The new feature has been successful so far, with fees on layer 2 network Optimism being less than a cent as of Thursday morning, and Base blockchain developers reporting a 99.8% drop in fees.

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