Gnosis Chain, a proof-of-stake blockchain modeled after Ethereum, has successfully activated the Dencun hard fork, which intends to cut transaction costs on Ethereum. The fork went online about 2:30 p.m. ET, introducing blobs, a specialized data storage channel designed to improve scaling on layer-2 networks.
The Dencun update aims to improve Ethereum’s scalability by allowing for cheaper transactions on rollups that use Ethereum for data availability. Ethereum core devs confirmed that no issues were observed following the fork, and the chain is presently completing with blobs.
According to Gnosis co-founder Martin Koeppelmann, while rollups may not attain sub-cent transaction rates, the Dencun hard fork on Gnosis Chain serves as a horizontal scaling solution to support layer-2s. “We still think we need more, so we have Gnosis Chain as our horizontal scaling similar to Ethereum, and now we also do layer-2s on top of Gnosis Chain,” he stated.
Gnosis’ infrastructure director, Phillippe Schommers, highlighted the chain’s compatibility with Ethereum. “We really want to stay exactly like Ethereum so that an application developed for Ethereum can come to Gnosis Chain seamlessly,” he said.
Gnosis Pay, a payments network that presently operates on the base layer but plans to migrate to layer-2s for regulatory filing, will be one of the first apps to use layer-2s on Gnosis Chain.
