Ethereum L2s Slash Fees 15%+
Post-Dencun upgrades are showing L2 fees slashed 15%+ on Arbitrum, benefiting AI agents and reducing transaction costs across the ecosystem. Zenith launched an EVM layer on Canton Network for JPMorgan, DTCC, and Nasdaq developers using familiar Solidity and MetaMask tools, bridging traditional finance with Ethereum infrastructure.
The sharp drop in Layer-2 fees is a direct result of Ethereum's "Dencun" upgrade, activated on March 13, 2024. This was the most significant network change since "The Merge" and focused on improving scalability and reducing data costs for L2s. At the core of the Dencun upgrade is a feature called "proto-danksharding" (EIP-4844). It introduces a new way for L2s to submit transaction data to the main Ethereum chain using temporary data packets called "blobs." This method is substantially cheaper than the previous one, with cost savings passed directly to users. The fee reduction has been dramatic across the board. In the immediate aftermath of the upgrade, networks like Optimism, Base, and Starknet reported transaction costs plummeting by as much as 99%, with average fees falling from over $1 to just a few cents. On the institutional side, the Canton Network is a private, permissioned blockchain built for major financial players, processing trillions in monthly volume. Until now, building on it required learning Daml, a proprietary programming language, creating a barrier for the vast majority of blockchain developers. Zenith's launch of an EVM layer on Canton eliminates this barrier. It allows the massive ecosystem of Ethereum developers to deploy applications written in the common Solidity language, using standard tools like MetaMask, directly onto the institutional network. This creates a direct bridge between the world's largest smart contract ecosystem and top-tier financial institutions. Major players like DTCC, JPMorgan, and Nasdaq are already using Canton for initiatives like tokenizing U.S. Treasuries and improving collateral mobility. Zenith isn't just an add-on; it's a core part of the infrastructure, operating as a Tier-1 Super Validator with maximum consensus weight, alongside DTCC and Nasdaq. This integration enables "atomic composability," meaning transactions can seamlessly interact between the open Ethereum ecosystem and Canton's regulated financial assets.
