Ethereum completes Glamsterdam upgrade

Ethereum has completed its Glamsterdam upgrade as of May 1, enabling more transactions to be processed faster and at a lower cost, FinanceSpeed reported. A significant increase in the gas limit has expanded available block space, lowering the cost of smart contract interactions such as decentralized exchange (DEX) transactions and large-scale NFT minting. Additionally, the cost of Layer 2 data settlement has been reduced by 70%, a change expected to intensify fee competition among major Layer 2 networks. Ethereum had previously stated its goals for the upgrade were to recapture market share from high-performance competing chains and to provide the necessary computational resources for next-generation dApps. The project plans to eventually transform into a high-performance financial engine capable of supporting hundreds of millions of daily active users.