Ethereum's Dencun Upgrade Lowers Data Fees, Allowing Developers to Post Bee Movie Script on Blockchain at Lower Cost
The recent Dencun upgrade of Ethereum has led to a significant reduction in data fees, resulting in developers being able to post the entire script of the Bee Movie on the blockchain at a much lower cost. The new "blobs" feature is specifically designed for layer 2 networks, providing a cheaper and temporary way to store data, which has lowered fees for networks like Optimism and Base blockchain. As a result of the reduced data fees, Ethereum developers have been having some fun on the blockchain by posting the Bee Movie script for a fraction of the usual cost. The blobs feature allows for temporary data storage for about eighteen days, after which it is permanently removed, and is primarily designed for layer 2 networks that run on top of Ethereum. The new feature has been successful so far, with fees on layer 2 network Optimism being less than a cent as of Thursday morning, and Base blockchain developers reporting a 99.8% drop in fees.
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