Ethereum's Glamsterdam Upgrade Reduces Layer 2 Costs by 70%

Ethereum successfully implemented its Glamsterdam upgrade on May 1, significantly reducing Layer 2 data settlement costs by 70%. According to NS3.AI, the upgrade increased the gas limit, thereby expanding block space and enabling Ethereum to process more transactions at a faster rate and lower cost. Ethereum stated that this change aims to decrease the cost of smart contract interactions, including decentralized exchange transactions and large-scale NFT minting. Additionally, the upgrade is designed to help Ethereum regain market share from high-performance competing blockchain networks.