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How Ethereum’s Dencun Upgrade Could Lead to the Rise of Millions of Layer 3s
Episode 620
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Ethereum’s long-awaited Dencun upgrade finally went live this week, and many L2s immediately saw their transaction fees fall dramatically, as was the intention. Among them was the Coinbase-incubated Base, which was created by Jesse Pollak. Pollak joined Unchained to discuss the impact Dencun was having on Base; how he thinks Layer 1s and Layer 2s will start to differ from one another and eventually spawn a multitude of specialized Layer 3s; his response to criticisms of the increasing use of Layer 2s, what he’s focusing on now, and why he supports using the word “onchain” over “crypto” or “web3.”
Show highlights:
- The problem that Dencun is trying to solve
- The benefits of blobs and blobspace
- How Dencun has already reduced Base’s fees, but also increased its transactions
- How Jesse thinks Layer 1s and Layer 2s will start to become differentiated from each other
- The rise of Layer 3s
- How Jesse addresses criticisms of fragmentation and centralization arising from the increasing use of Layer 2s
- Why Jesse is particularly excited about two features of the Dencun upgrade—transient storage and increased composability between L1s and L2s
- What Jesse and the Base team are focusing on now
- Why Jesse thinks that “onchain” is a better word to describe the industry than “crypto” or “blockchain” or “web3”
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Guest
- Jesse Pollak, creator of Base at Coinbase
Previous appearances:
- The Chopping Block: All About That Base With Jesse Pollak
Links
Recent coverage on Unchained of the Dencun Upgrade and Base: