#热门话题 #ETH

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The long-awaited Cancun upgrade is finally here, and you don’t have to worry about expensive gas fees anymore! Seeing that fans still don’t understand the benefits of the Cancun upgrade, today we’re going to do some popular science.

1. Ethereum’s network evolution journey

Ethereum has experienced several major network upgrades in recent years, including the famous London upgrade, Shanghai upgrade, and this week’s upcoming Kunming upgrade. Among these upgrades, the Kun upgrade is expected to bring the most significant improvement in user experience, especially in terms of transaction fees.

2. The challenge of high handling fees

In the past, the Ethereum network had high transaction fees, which became a major burden for users. The fee for exchanging tokens is up to $57 equivalent in ETH, while buying and selling NFTs can cost up to $97. These expensive fees stem from the limitations of the Ethereum network, which can only process 13 transactions per second. In order to obtain transaction priority, users have to pay higher handling fees, which has led to Ethereum being vividly called the "aristocratic chain."

3. The rise of L2 solutions

However, with the development of second-layer solutions (Layer2, L2) such as Optimism (OP), Arbitrum or Base, the cost of using the Ethereum network has dropped significantly. By using these L2 solutions for transfers, the handling fee can be reduced to between US$0.2 and US$1, which is more than 50 times cheaper than the fees of the native Ethereum network (Layer1, L1).

4. Cancun upgrade: moving towards lower fees

This week’s attention-grabbing Kun upgrade is expected to further reduce handling fees based on L2, and the drop is expected to be between 10 and 100 times. This means that the handling fees for using Ethereum L2 will become extremely low, almost negligible compared with using other blockchain platforms such as Polygon and Solana. The Kun upgrade marks an important step for Ethereum in solving the problem of high handling fees. It is expected to greatly improve user experience and promote wider network usage and application development.