Ethereum (ETH) reaches 400,000 daily active users, arbitrage and optimism continue

Ethereum (ETH) reaches 400,000 daily active users, arbitrage and optimism continue

Ethereum (ETH), the second largest cryptocurrency and the world’s leading smart contract platform, has achieved a major milestone by surpassing 400,000 daily active users. This increase in user activity comes as decentralized finance (DeFi) applications, non-fungible tokens (NFTs), and other decentralized applications (dApps) continue to gain traction within the Ethereum ecosystem.

Ethereum (ETH), the second largest cryptocurrency and the world’s leading smart contract platform, has achieved a major milestone by surpassing 400,000 daily active users. This increase in user activity comes as decentralized finance (DeFi) applications, non-fungible tokens (NFTs), and other decentralized applications (dApps) continue to gain traction within the Ethereum ecosystem.

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In recent years, several solutions have emerged to help the Ethereum network process more transactions together. Roll-ups are blockchains that execute transactions externally to the Ethereum blockchain, using a separate execution environment. They aggregate batches of transactions that occur in the summary and anchor them into a single transaction, which is then sent to the Ethereum blockchain and verified.

According glass node, rollup solutions have grown in popularity over the past two years, with the two leading scaling solutions, Arbitrum and Optimism, seeing an increase in usage of up to 150,000 and 100,000 daily active addresses, respectively. Meanwhile, the Ethereum mainnet still has the highest activity count, with over 400,000 active addresses per day.

On Wednesday, March 13, Ethereum saw another major upgrade. The Cancun-Deneb (Dencun) upgrade introduced significant changes to Ethereum’s cumulative infrastructure. The update also implements several modifications to the Ethereum staking pool to improve node communication and network stability.

The main feature of the Dencun upgrade is to create additional data storage capacity on the Ethereum network. It introduces a new type of transaction capable of transporting large packets of data, called blobs.

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Ethereum (ETH) Fees Soar as Countdown to Dencun Upgrade Begins: What to Expect

With the Dencun upgrade, the separation of Layer 2 pinning transactions into blobs is largely in line with improving user experience, reducing fees, and the Ethereum Foundation’s rollup-focused roadmap . The hope is that lower transaction fees will encourage more users to move to rollups, thereby increasing the aggregate throughput of Ethereum-based transactions.

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