Ethereum Network Finishes Cost-Cutting ‘Dencun’ Software Upgrade

Ethereum has successfully completed a major software upgrade that should make using the blockchain network ecosystem cheaper.

Referred by developers as Dencun, the update lowers expenses for so-called Layer 2 networks — dozens of chains like Arbitrum, Polygon and Coinbase Global Inc.’s Base that link to Ethereum. A transaction that used to cost $1 can now be done for a cent, while a transaction that used to cost a few cents will now cost a fraction of a cent.

The upgrade is being hailed as the most significant change in Ethereum ecosystem’s end user experience ever, and expected to spur ...