Farewell Calldata: Overview of the mainstream Layer2 fee reduction trend

Written by: Peng SUN, Foresight News

At 21:55 on March 13, Beijing time, the Ethereum mainnet was officially activated at block height 269568 Dencun upgrade. The most important part of this upgrade includes EIP-4844, the introduction of temporary data blobs that replace calldata. The EIP-4844 upgrade can be said to be an inflection point for Ethereum to promote large-scale commercialization. Its goal is to expand Ethereum's data availability, provide larger storage space for L2 data, and reduce L2 gas fees by 10 to 100 times.

Since last night, Starknet, Optimism, Arbitrum, zkSync, Base, Zora, Mode and other L2s have successively announced upgrades to use Blobs, and some L2s will also additionally reduce gas costs. Foresight News will take stock of Ethereum and L2 gas fee data, and conduct actual transaction measurements to see how much gas fees can be reduced by EIP-4844. Which one is the cheapest?

Farewell, Calldata!

In the past month, the encryption market has risen as a whole. Bitcoin has repeatedly broken through all-time highs. The market sentiment is extremely FOMO. Ethereum transactions have increased rapidly, with an average of 80 Gas fees ranging from USDT to 130 USDT also make users miserable.

According to ultra sound money data, the gas fee of Ethereum once reached 190 Gwei on March 6.

According to growthepie data, L2 paid a total of US$2.1 million in gas fees yesterday, and on March 5, L2 paid a total of over US$4.3 million in gas fees, a new high this year. Ethereum Gas fee reduction is imperative.

Overview

According to Blobscan data, on March 13, The Gas used by Blob is now 197,918,720, while the equivalent callda Gas of Blob will cost 3,073,477,708. The Gas fee of Blob has been reduced by more than 15 times.

Since the Cancun upgrade, the total number of blocks in Ethereum is now 1697, the total number of transactions is 1868, and a total of 2029 Blobs are used.

Currently, according to L2BEAT and Blobscan data, Optimism, Starknet, Base, zkSync, Zora, and Mode have all adopted blobs, and Starknet has the most blob transactions.

According to L2 Fees data, the gas fees of Optimism, zkSync Era, and Starknet have dropped the most.

According to Dune data, since the Cancun upgrade, the average gas fee of the Optimism network has dropped by 98% from 2.442 USDT to 0.046 USDT; the average gas fee of the Base network has dropped by 94% from 1.069 USDT. % to 0.06 USDT; the average gas fee of the zkSync network decreased by 77% from 0.66 USDT to 0.151 USDT; the average gas fee of the Zora network decreased by 98% from 1.423 USDT to 0.022 USDT; the Arbitrum network gas fee decreased by 48% from 0.968 USDT to 0.503 USDT.

In addition, the median Optimism network gas fee has dropped by 99% from 0.669 USDT to 0.004 USDT; the median Base network gas fee has dropped by 99% from 0.7747 USDT to 0.0012 USDT; zkSync network gas fee median dropped by 69% from 0.3078 USDT to 0.0951 USDT; Zora network gas fee median dropped by 99% from 0.7253 USDT to 0.0009 USDT; Arbitrum network gas fee median dropped from 0.6717 USDT by 50% to 0.3335 USDT.

Starknet

Yesterday, the Starknet mainnet was launched in Ethereum Cancun When upgrading, upgrade to Starknet 0.13.1, use the Blob data type, and perform additional cost reductions. The actual gas fee is as low as $0.01.

Transfer: Gas tends to 0.

Swap: The actual Gas fee is 0.02 USDT.

Optimism

Transfer: Gas fees for transfers on Optimism tend to be 0 , and the transaction fee for the author’s transfer a few days ago was 0.68 USDT.

Swap: Gas is 0.01 USDT.

zkSync

Transfer: Gas fee was originally 0.24 USDT, which will be refunded 0.13 USDT followed by 0.11 USDT.

Swap: The initial gas fee is 0.78 USDT. After returning 0.67 USDT, the gas fee is actually 0.11 USDT. Some transactions will be lower than 0.1 USDT.

Base

Today Base community contributor Jesse Pollak said that Base Blob has been launched, and the Base network transaction fee has been reduced from US$0.31 to US$0.0005. In addition, "the wallet needs to be updated to achieve cost reduction."

Transfer: Gas fee tends to 0.

Swap: Gas is close to 0.

Arbitrum

Arbitrum’s ArbOS Atlas upgrade will be on 3 Beijing time Executed on all Arbitrum chains at 21:41:35 on March 14th. Once the upgrade starts executing, expect it to take an hour or two for Blob transactions to start rolling out and for the new EIP-4844 pricing changes to start showing up. ArbOS Atlas also introduces additional Arbitrum fee reductions for Arbitrum One, which is expected to be activated on March 18.

Currently, the handling fees on Arbitrum have not been significantly reduced.

Linea

Linea has not yet introduced Blobs, and the current transaction fees are much higher to other L2.

BNB Chain

BNB Chain will launch an upgrade called "BEP 336", which will refer to Ethereum's EIP 4844 and introduce the concept of "Blob Carrying Transaction" (BlobTx). BSC A dynamic Gas pricing mechanism will be provided for blobs, and minimum and maximum thresholds will be set to maintain reasonable transaction costs.