zkSync Anticipates Lower Fees and Enhanced Performance With Ethereum’s Duncan Upgrade

  • The imminent Duncan upgrade on the Ethereum network, featuring proto-danksharding (EIP-4844), takes center stage in the article. 
  • The analysis underscores the significance of this upgrade for zkSync and other Layer 2 solutions, portraying it as a pivotal development for enhancing scalability. 

The forthcoming Duncan upgrade on the Ethereum network, slated for mid-March, is poised to revolutionize Layer 2 solutions, bringing significant improvements to platforms like zkSync. This upgrade, featuring “proto-danksharding” (EIP-4844), is a pivotal development drawing attention from the Ethereum community for its potential to make Layer 2 solutions more cost-effective and scalable.

Ethereum’s Duncan upgrade is on the horizon, and zkSync, a prominent Layer 2 network on the Ethereum mainnet, is gearing up for transformative changes. The introduction of proto-danksharding (EIP-4844) is at the forefront of this upgrade, and it promises to incorporate off-chain ‘data blobs,’ a crucial enhancement for Layer 2 scalability.

One of the primary anticipated outcomes of EIP-4844 is a substantial reduction in transaction costs for Layer 2 solutions like zkSync. At present, zkSync users contend with an average transaction fee of about $0.20. EIP-4844 specifically targets the data-related component, which currently incurs costs ranging from $0.08 to $0.10 per transaction on zkSync. The development team at Matter Labs, the core contributor to zkSync, envisions a nearly ten-fold reduction in these data-related costs post-Duncan upgrade, potentially bringing the average fee per transaction to under $0.10.

A key aspect of zkSync’s strategy to leverage the Duncan upgrade involves the implementation of Boojum, a STARK-based proof system. Boojum is designed to enhance the network’s ability to compress and publish more data to the Ethereum mainnet within its transaction batches. The past year has seen Matter Labs actively enhancing zkSync’s code in alignment with EIP-4844, aiming to boost overall performance and streamline the batching and verification of transactions.

Anthony Rose, Head of Engineering at Matter Labs, emphasizes that the combined impact of improvements to the protocol and the implementation of EIP-4844, along with the Boojum upgrade, will significantly enhance zkSync’s performance. This strategic approach aims to increase the efficiency of data compression and simultaneously boost the size of Layer 2 batches. As a result, users can expect more substantial batches and, consequently, more cost-efficient transactions on the zkSync network.

Unlocking Efficiency: zkSync Prepares for Cost-Effective Transactions with Ethereum’s Duncan Upgrade

In anticipation of Ethereum’s Duncan upgrade, zkSync emerges as a frontrunner in the evolution of Layer 2 solutions. The implementation of proto-danksharding (EIP-4844) signifies a landmark moment, promising to revolutionize zkSync’s transaction landscape. The strategic integration of Boojum, a STARK-based proof system, underlines the project’s commitment to not just reducing costs but enhancing overall performance. As zkSync bids farewell to hefty transaction fees, users can look forward to more significant batches, cost-efficient transactions, and an empowered decentralized experience. The impending Duncan upgrade positions zkSync at the forefront of efficiency, marking a promising chapter in the realm of decentralized finance on the Ethereum network.

Disclaimer : This article was created for informational purposes only and should not be taken as investment advice. An asset’s past performance does not predict its future returns. Before making an investment, please conduct your own research, as digital assets like cryptocurrencies are highly risky and volatile financial instruments.

Author: Mehar Nayar

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