L2 Ethereum and Optimism Achieve Improved Scalability with Dencun Upgrade

Bittime - High fees and slow transaction times on the Ethereum mainnet have been a major barrier to widespread adoption. 

Users often face hefty fees and significant delays when interacting with decentralized applications ( dApps ) built on Ethereum. This has stunted the growth of the network and limited its potential.

L2 Solutions and Optimism

Layer 2 (L2) scaling solutions offer an alternative approach to processing transactions on Ethereum. This solution operates alongside the mainnet, inheriting its security while offering faster and cheaper transactions. One such L2 solution is Optimism , which uses a technique called optimistic rollup to achieve scalability.

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Dencun Upgrade Comes to Help

The Dencun upgrade, implemented on March 12, 2024, is a significant step forward for Ethereum's scalability efforts. It introduces a key feature called proto-danksharding, which lays the foundation for future  sharding implementations.

Sharding is a technique that divides the Ethereum blockchain into smaller partitions, enabling parallel processing of transactions and significantly increasing scalability.

ETH Price Today

Source: Bittime 

On March 15 2024, the Bitcoin ETH/IDR price reached IDR 60,917,979 per coin, down 2.57% in 24 hours, based on the Bittime market.

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What Does Dencun Do for Optimism?

The Dencun upgrade specifically addresses limitations in Optimism's scalability. The core component of this upgrade, proto-danksharding, focuses on reducing data storage costs on mainnet. 

Optimism especially benefits from being able to store transaction data more efficiently on the mainnet. This means lower transaction fees and the ability to handle much higher transaction volumes on Optimism.

A Brighter Future for Ethereum

The successful implementation of Dencun marks a significant step forward for Ethereum's scalability roadmap. With L2 solutions like Optimism getting significant upgrades, networks are now better equipped to handle a larger user base and a wider range of applications. 

This has the potential to attract more developers and users to the platform, strengthening Ethereum's position as a leading blockchain network.

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How to Buy Ethereum (ETH) on Bittime

You can buy and sell  Ethereum (ETH)  in an easy and safe way via  Bittime . Bittime is one of the best crypto applications in Indonesia which is officially registered with Bappebti. 

Ethereum (ETH) is available on Bittime with the ETH/IDR market pair . To be able to buy  ETH/IDR  at  Bittime,  make sure you have registered and completed identity verification. Apart from that, also make sure that you have sufficient balance by depositing some funds into your wallet. For your information, the minimum purchase of assets on  Bittime  is IDR 10,000. After that, you can purchase crypto assets in the application. 

Learn the complete guide on how to buy Ethereum (ETH) on Bittime. 

Monitor price chart movements   for Ethereum (ETH) , Bitcoin (BTC) ,  Solana (SOL)  and other cryptos to find out today's crypto market trends in real-time on Bittime.

Also read:

Cheatsheet: Massive ETH Burn, Bitcoin's Future Questioned

Ethereum Dencun Upgrade: Here's What You Need to Know!

Gnosis Chain Pioneers Dencun Trial, Challenging Ethereum's Future

DISCLAIMER : This article is informational in nature and is not an offer or invitation to sell or buy any crypto assets. Trading crypto assets is a high-risk activity. Crypto asset prices are volatile, where prices can change significantly from time to time and Bittime is not responsible for changes in fluctuations in crypto asset exchange rates.