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#Arbitrum activates Atlas upgrade, readies for additional fee reductions on March 18
Offchain Labs, the primary developer behind Arbitrum, has successfully activated the ArbOS 20 upgrade, dubbed "Atlas," on the Arbitrum network. This upgrade is anticipated to notably reduce transaction costs and open up new potential use cases.
With the implementation of "blobs" to achieve efficient data processing at a reduced cost, the Atlas upgrade provides
#Ethereum 's Dencun support. Following the activation of Atlas, Arbitrum plans to further decrease execution transaction fees starting March 18.
Initially focusing on reducing layer 1 (L1) posting fees through EIP-4844, the Atlas upgrade will see additional fee reductions in the coming week. Arbitrum aims to lower the L1 surplus fee per compressed byte from 32 gwei to zero and decrease the
#Layer2 (L2) base fee from 0.1 gwei to 0.01 gwei. Consequently, Arbitrum One applications will benefit from the new pricing structure without requiring any modifications.
Moreover, layer 3 Rollup chains built atop Arbitrum One will automatically experience reduced fees, while self-governed Orbit L2 rollup chains are encouraged to adopt ArbOS Atlas and enable blob posting to enjoy similar benefits.
Key Rollups-as-a-Service (RaaS) providers like Altlayer, Caldera, Conduit, and Gelato have committed to upgrading existing Orbit chains to support the Atlas upgrade and Ethereum Dencun upgrade, according to Offchain Labs.
Additionally, the Atlas upgrade aligns Arbitrum with EVM's security standards by supporting EIP-6780, paving the way for future enhancements to the EVM.
Offchain Labs' CEO, Steven Goldfeder, sees the Atlas upgrade as expanding crypto use cases. By cutting transaction costs, it makes gaming, SocialFi, and DeFi exchanges more feasible. The Ethereum Dencun upgrade aims to lower gas fees on L2
#blockchains , potentially boosting Ethereum adoption, pending adoption by project teams.
Source - cryptobriefing.com
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