Impact of Ethereum Dencun Upgrade on Polygon Network (MATIC)

The Ethereum Dencun upgrade, which brings the EIP-4844 feature, aims to significantly lower costs for Layer 2 solutions like Polygon.

However, the impact varies depending on the type of Polygon network used.

Check Today's Crypto Market:

First Beneficiary: Polygon zkEVM

Polygon's zkEVM network will be the first to experience the benefits of this upgrade. A testnet launch with EIP-4844 compatibility is planned for April 2024, followed by a mainnet launch in May 2024 (as part of their “Feijoa” upgrade). 

Developers estimate a two- to five-fold reduction in costs due to the EIP-4844's "blobs" feature. Blobs are a low-cost, temporary data storage solution for Layer 2 transactions. 

Blobs allow faster verification compared to full blocks, which results in faster processing and lower fees.

Also read: What is the Ethereum Improvement Proposal (EIP)?

Other Polygon Networks: Mixed Impact

• Polygon PoS: This chain will not directly benefit from EIP-4844 as it is not a rollup solution. The chain may switch to zkEVM validium in the future, but it will not involve storing data on Ethereum, so it is not affected by EIP-4844.
• Polygon CDK Validium Chain: Similar to Polygon PoS, this chain will not be affected by the upgrade due to its data storage method.
• zkEVM Polygon CDK: This chain may get EIP-4844 support in late 2024, according to Polygon developers.

Also Read How To Buy Crypto:

Competition and Potential Challenges

While Polygon zkEVM prepares for the upgrade, other Layer 2 solutions such as Optimism and Starknet are already experiencing lower costs due to Dencun. 

Additionally, some experts warn that Layer 2 fees could rise again as more chains adopt EIP-4844 and the blob fee market becomes crowded.

Check Crypto Prices Today:

The Importance of Upgrading Dencun

The Dencun upgrade is a big step for Ethereum, potentially offering substantial cost reductions for Layer 2 solutions like Polygon zkEVM. 

This could increase adoption and activity in the Ethereum ecosystem.

How to Buy Crypto from Bittime

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

To be able to buy crypto assets on 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 Complete Guide How to Buy Crypto on Bittime . 

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

Read Also

Ethereum Dencun Launches on Holesky Testnet

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

5 Best Rollup Tokens to Buy Before Ethereum Dencun Upgrade

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.