Arbitrum developers are set to revolutionize layer-2 transactions by slashing gas fees by 10 times, with the cost reductions set to take effect on March 18.

The Offchain Labs team has rolled out an update to ArbOS, also known as Atlas, to introduce support for binary large objects (blob) transactions. This enhancement is specifically aimed at lowering the expenses associated with transferring data from Layer 2 to the Ethereum mainnet.

The community’s response to Atlas has been overwhelmingly positive, with the majority of the changes from the upgrade being embraced by the Arbitrum community. This upgrade is anticipated to bring about a significant reduction in the base fee average, dropping from 0.1 Gwei to 0.01 Gwei. Previously, an operation costing $0.5 will now only cost users around $0.05.

Other layer-2 networks, such as Optimism and Base, have also seen substantial improvements in gas efficiency following the implementation of the Dencun update. Gas fees in the Base protocol witnessed a drastic decrease from $0.31 to $0.0005.

Transaction costs on Optimism have been slashed to below $0.01, as reported by L2Fees.

Arbitrum’s network fees underwent adjustments on March 13, post the activation of Dencun on the Ethereum mainnet. A crucial component of this upgrade, EIP-4844, aims to boost network scalability by introducing a new transaction type for blobs. This update is expected to drive a tenfold reduction in the cost of layer-2 operations and significantly enhance Ethereum’s throughput.

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