The team at Offchain Labs has implemented an update to ArbOS, also known as Atlas. This upgrade will introduce support for BLOB transactions, aimed at reducing the cost of transferring data from L2 to the Ethereum mainnet.
The blobs have landed on Arbitrum! ?
? ArbOS 20 “Atlas” is now live, blobs are in effect, reducing data posting costs.
⛽ Additional execution gas fee reductions for Arbitrum One will go live on March 18.
More details below ?https://t.co/amVT5EnQWE pic.twitter.com/pyS9AVORFF
— Arbitrum (?,?) (@arbitrum) March 14, 2024
The activation of Dencun on the network of the second-largest cryptocurrency by market capitalization took place on March 13. A key component of the upgrade is EIP-4844.
To integrate the new type of transactions, L2 networks need to update their software.
The Arbitrum community almost unanimously supported Atlas, which includes most of the changes implemented in the recent upgrade.
Other layer-two networks—Optimism, Base, and Starknet—have significantly improved gas efficiency thanks to Dencun.
Offchain Labs representatives anticipate a tenfold reduction in the average base fee—from 0.1 Gwei to 0.01 Gwei. An operation that previously cost $0.5 will now cost users approximately $0.05.
Arbitrum leads among L2 protocols in terms of total value locked (TVL), with the figure approaching $16 billion, according to L2BEAT.
Previously, the opBNB layer-two network from BNB Chain developers surpassed Arbitrum in transaction numbers.