Ethereum Proposal EIP-7781 Promises Network Performance Boost – Here’s What To Expect
08 Octubre 2024 - 12:00AM
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Ethereum Improvement Proposal (EIP) 7781 aims to reduce Ethereum
network slot times, expand blob capacity, enhance decentralized
exchange (DEX) performance, and lower gas fees. What Is
Ethereum Improvement Proposal – 7781? EIP-7781 has garnered
attention from the Ethereum (ETH) community due to its potential
impact on the smart contract platform. Proposed by Ben Adams,
co-founder of Illyriad Games, the new EIP promises several
benefits, including reducing network slot times from 12 seconds to
eight seconds, resulting in a 33% increase in transaction
throughput without a corresponding rise in data blob counts.
Related Reading: Vitalik Buterin Proposes A Privacy Fix for
Ethereum For the uninitiated, data blob counts in Ethereum refer to
the number of chunks of data included in a block for future use by
rollups or layer-2 scaling solutions. These blobs help offload data
storage and processing from the base Ethereum network, reducing
congestion and improving scalability. EIP-7781 also aims to
distribute network bandwidth more evenly, effectively lowering peak
bandwidth requirements without sacrificing network efficiency. In
his proposal, Adams explains: This would be equivalent to
increasing blob count from 6 to 8 or gas limit from 30M to 40M;
however this approach does not increase peak bandwidth. Commenting
on the proposal, Ethereum Foundation researcher Justin Drake said
he supports reducing slot times to eight seconds. Drake added that
the proposal would help DEXes like Uniswap v3 become 1.22 times
more efficient, saving approximately $100 million in CEX-DEX
arbitrage annually, resulting in better user trade execution.
Similarly, Pseudonymous developer Cygaar shared their thoughts on
EIP-7781, saying, if approved, the proposal can increase Ethereum’s
throughput by as much as 50%. The developer also confirmed that the
proposal would help lower Ethereum gas fees. However, Cygaar
cautioned that reducing slot times should not come at the expense
of significantly increasing hardware requirements for solo
validators. To clarify this concern, shorter block times
could cause the Ethereum blockchain’s data to grow more rapidly,
requiring stronger hardware and faster internet to keep up with the
quicker updates. This could present challenges for solo stakers and
node operators. EIP-7781 Raises Concern For Solo Stakers While
EIP-7781 promises to address several of the current challenges on
the Ethereum network, there are concerns about its impact on solo
stakers. Related Reading: Ethereum Inflation Surge Casts Doubt On
“Ultrasound Money” Claim: Report For instance, Cinnehaim Ventures
partner Adam Cochran noted that the proposal “seems reasonable in
terms of bandwidth on solo stakers” as long as the gas limit per
block remains unchanged. Cochran added: Would want to see some
tests on I/O hardware and staker return ping times to make sure it
doesn’t cut off some home stakers but, it seems like it should be
within range for most. It should be recalled that recently,
Ethereum co-founder Vitalik Buterin advocated lowering the ETH
requirement for solo stakers from 32 ETH to 16 or 24 ETH.
Buterin stressed the importance of solo stakers in securing the
Ethereum network, suggesting that an increased proportion of solo
stakers could provide an extra layer of protection against network
attacks. At press time, ETH trades at $2,469, up 1.7% in the last
24 hours. Featured image from Unsplash, chart from Tradingview.com
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