According to Galaxy researcher Christine Kim, Ethereum's Dencun upgrade in March had unintended consequences, causing an increase in transaction failure rates on the Layer 2 network.
She cited the in-depth analysis report "150 Days After Dencun" published by crypto investment firm Galaxy on August 21, which reported that since the upgrade, there has been a significant increase in failed transactions and bot activity on Layer 2, which has reduced fees.
Following the activation of EIP-4844, Ethereum L2 more than doubled its daily transaction activity to 6.65 million in the subsequent 150 days.
However, the increase in transaction volume also led to an increase in transaction failure rates. Kim observed that transaction failure could be due to bot activity due to low L2 fees. Base had a failure rate of up to 21%, Arbitrum had a failure rate of up to 15.4%, and OP Mainnet had a failure rate of up to 10.4%.
Galaxy Research: ETH Dencun upgrade causes high-frequency trading failure rate to rise
2024-08-23 06:47:32
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