Scroll Blockchain Implements Scroll Enabled Blobs, Reducing Median Transaction Fee to $0.15 from $0.62

Scroll, an Ethereum layer 2 network, has made a significant impact on the blockchain world with the introduction of “blobs” and a new points programme. The implementation of blobs has led to a drastic reduction in transaction fees, dropping the median cost from $0.62 to $0.15.

The platform’s new points programme, Session Zero, has also contributed to a surge in the total value of crypto assets deposited on the blockchain, reaching an all-time high of $195 million. Users are rewarded with Scroll Marks for bridging assets and holding them on the network, with the potential for these Marks to convert to tokens in the future.

Despite the impressive growth in asset values, there has been a decline in user engagement metrics such as active addresses and daily transactions. This could be attributed to the high transaction fees that were previously a barrier to more activity on the network.

With the introduction of blobs and the subsequent reduction in fees, there is optimism that user engagement may increase in the future. While Scroll remains the second-most expensive layer 2 network for transactions, further upgrades and developments could lead to even lower fees in the coming months.

The recent Dencun upgrade, which included the implementation of blobs, has been a game-changer for Scroll and other layer 2 networks. This upgrade has not only reduced transaction fees but also improved security and efficiency for dapps on the blockchain.

As Scroll continues to evolve and make improvements, it will be interesting to see how the network grows and attracts more users in the competitive blockchain space. Stay tuned for more updates on Scroll and other blockchain developments.