How the Dencun Upgrade Could Lead to Millions of Layer 3s
Unchained Unchained
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 Published On Mar 15, 2024

Base creator Jesse Pollak argues that much cheaper Layer 2 transactions, as well as other developments, will enable the creation of multitudes of specialized Layer 3s that are deeply connected to the onchain economy.
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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
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Time Stamps:
00:00 Introduction
01:29 The problem Dencun is trying to solve
04:03 How blobs work
04:55 Dencun’s impact on Base
07:06 Layer 1 vs. Layer 2 vs. Layer 3
11:44 Criticisms of Dencun
17:48 Dencun’s other significant features
20:51 Where Base is focusing now
24:05 ‘Onchain’ instead of ‘crypto’?
27:48 Crypto News Recap


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#bitcoin #ethereum #crypto #cryptocurrencies
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