In a display of true degen style, it took less than thirteen minutes after Ethereum’s Dencun upgrade was launched for someone to upload the entire Bee Movie script on the mainnet. Surprisingly, the cost for this endeavor was only around $14.
Dan Cline, an Ethereum developer, proudly claims that he was the first to upload the full-length script on the blockchain. He took advantage of the new upgrade, which aims to significantly reduce fees on Ethereum layer 2s. Cline shared his achievement in a post on X, stating, “I didn’t get the first blob, but as far as I can tell I DID get the first BEE MOVIE on mainnet.”
Uploading the Bee Movie script has become a popular joke within the crypto community and beyond. It involves a race to upload the full-length script on new networks and blockchain-related functions. This trend originated from a larger Bee Movie meme, where people would post the script wherever possible on social media.
According to Blobscan data, the script was uploaded at 2:08 pm UTC on March 13, a mere 13 minutes after the Dencun upgrade went live. The transaction cost a total of $13.88, as reported by Etherscan.
The Dencun upgrade, also known as EIP-4844 or “proto-danksharding,” introduced blobs as a core feature. Blobs are used to reduce transaction costs on layer-2 networks by allowing layer 2s to utilize them instead of the calldata function for temporary data storage during transaction execution. This results in lower costs for users.
However, Cline’s Bee Movie script will only exist on the Ethereum network for a few more weeks. Blobs are “pruned” after approximately 18 days, which is the time required for a layer 2 to retrieve the data contained within.
Mason Hall, an engineer and investment partner at crypto venture capital firm a16z, also joined in on the fun. He reported uploading the Bee Movie script less than an hour later, with a cost of $5 using blobs.
As of now, three Ethereum layer-2 networks, namely Starknet, ZkSync, Optimism, and Base, have implemented blobs on their networks. This information is based on data from Dune Analytics.
Jesse Pollak, the lead developer of Base, announced on X that the integration of blobs on the Base network has significantly reduced transaction fees from around $0.31 to almost zero.
The Dencun upgrade includes not only EIP-4844 but also eight other EIPs aimed at improving various functions on the Ethereum network. This includes EIP-1153, which introduces a “transient storage” system to further reduce fees, and EIP-4788, which enhances transparency by storing the root of each Beacon Chain block in a smart contract that can be queried by applications.
Developers anticipate that the data provided by EIP-4788 will be used to create new features for bridges and staking pools.
It’s important to note that the reduction in fees on swaps and transactions on Ethereum layer 2s will only take effect once the networks start integrating EIP-4844.
Currently, swap fees on the largest layer-2 network, Arbitrum, are still at around $1.16, while swap fees on Polygon stand at $1.46, as per L2 Fees data.
In conclusion, the upload of the Bee Movie script on Ethereum’s mainnet shortly after the Dencun upgrade showcases the playful and innovative nature of the crypto community. With the implementation of blobs and other improvements, Ethereum layer 2s are expected to see a significant reduction in transaction fees, providing a more cost-effective and efficient experience for users.