Author: Nancy, PANews
Ethereum is leading the Layer 2 track to sound the clarion call for counterattack. On the one hand, the latest Ethereum core developers meeting announced that Dencun will be launched in January next year, and the Goerli fork date is expected to be set early next year, which may inject new vitality into the Layer 2 track; on the other hand, Starknet, Blast, etc. The expectation of Layer2 airdrop also ignited the enthusiasm of the community for interaction.
Dencun upgrade will be launched in January next year, Layer 2 sector generally rose
As another important upgrade after Ethereum Shanghai, the Dencun upgrade finally made a substantial breakthrough.
According to Ethereum core developer timbeiko.eth, in the minutes of the 176th ACDE meeting, developers discussed the status of Dencun and the schedule of the test network, as well as the plan for the next network upgrade.
According to the meeting discussion, testing of the Dencun upgrade on Devnet#12is progressing smoothly, and bugs have been discovered and fixed in multiple clients, including Reth and Lighthouse. Currently, except for Prysm Ethereum Client, which is expected to join the Devnet#12test in the next two weeks, almost all other clients have been tested.
At the same time, the meeting stated that the development team is ready to fork the testnet and plans to conduct a large Goerli shadow fork in the coming weeks. Developers agreed that if things go well, a Goerli fork date will be set for early 2024, with the goal of launching the Dencun upgrade on the network in January next year.
In addition, the meeting also briefly discussed the planning of the Prague/Electra network upgrade. Two potential topics for the next upgrade are Verkle Tries on EL and DAS on CL. These two topics still require "in-depth study". It is reported that the last ACDE meeting in 2023 will be held at 22:00 on December 21, Beijing time.
Dencun refers to Cancun upgrade and Deneb upgrade. The former focuses on the Ethereum execution layer, and the latter focuses on the protocol layer upgrade, aiming to improve the scalability, security and availability of the network. Among them, Cancun (Cancun Upgrade), which the community has been waiting for for a long time, is the key to further expansion of Ethereum. It can open a new stage of data storage and retrieval capabilities, thereby reducing costs and increasing efficiency for Layer 2.
However, due to the upgrade protocol becoming more complicated after the Ethereum merger, the Dencun upgrade was delayed multiple times until the recent 123rd Ethereum Core Developer Consensus (ACDC) conference call revealed that the Cancun/Deneb upgrade had been completed in November Launched on Devnet#12on the 30th.
Although the latest meeting showed that the upgrade time of Dencun on the official main network has not yet been determined, Goerli is the test network closest to the Ethereum main network, which has greatly boosted the confidence of Layer 2 and even the entire Ethereum ecosystem. You know, not long ago, when ecosystems such as Bitcoin and Solana were performing well, the crypto community was once engaged in a war of words surrounding the value of Ethereum.
Affected by this, Ethereum and Layer 2 tokens generally rose. CoinGecko data shows that in the past 24 hours, the Ethereum price chart was US$2,300, and the total market value of the Layer 2 sector increased by nearly 7.8%.
Multiple spoilers have entered the Layer 2 track, and airdrops will capture greater traffic
Layer 2 is becoming one of the narrative protagonists of the crypto bull market. According to Rootdata statistics, there are approximately 91 Layer 2 projects in the market, of which 16 are in the testnet stage.
Just in the past few months, the Layer 2 track has welcomed a number of new forces into the game, and financing news continues to come out. For example, in November this year, the founder of Blur announced that the interest-bearing Layer2 Blast had received US$20 million in financing, and its TVL had exceeded US$800 million in less than a month since it was launched due to the introduction of points airdrop gameplay; in the same month, OKX announced the use of Polygon CDK launched the new ZK Layer2 network ZK-Rollup L2 network zkSharding; Layer2 network Kinto announced the completion of two rounds of financing totaling US$5 million; in December, the Ethereum L2 Rollup project Ten completed US$7.5 million in financing from Republic Capital and others. In addition, Paypal, Kraken, etc. are also planning to enter the Layer 2 track.
With the popularity of Layer 2 rising, the upcoming airdrop plans of multiple Layer 2 projects will also bring more heat and traffic to the project and even the entire track. For example, the Starknet Foundation recently confirmed that it has conducted an airdrop snapshot, the airdrop plan will be announced after it is finalized, and the STRK token contract was deployed 379 days ago; the first community L2 network ZKFair announced that its test network has been officially launched. After the mainnet goes online, 100% of the tokens will be airdropped to all community users through Gas fee Airdrop.
Judging from the data, a large amount of funds continue to flow into Layer 2. According to L2BEAT data, as of December 8, the TVL of Ethereum Layer 2 rose to $16.14 billion, an increase of 24.9% in the past 30 days, more than 3.5 times higher than the beginning of the year.
With the arrival of the Dencun upgrade to Ethereum, the Ethereum Layer 2 narrative will usher in an important turning point, and optimization of transaction fees and transaction experience will expand more application scenarios and capture more users.
(The above content is excerpted and reprinted with the authorization of our partner PANews, original text link)
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〈The "Cancun Upgrade" ushered in substantial progress, will Layer 2 help Ethereum start a "turnaround"? 〉This article was first published in "Block Guest".
