While all eyes are on Pectra now, it's worth mentioning that today marks three months since blobs entered our lives during Dencun!
The previous upgrade wasn't as packed with EIPs as Pectra planned to be, but it introduced the highly anticipated blobs within EIP-4844, which have significantly improved the L2 user experience and made tx cheaper.
Let’s look over blob’s progress over these past 3 months:
▫️ 1.1M total blobs since the Dencun upgrade (with 1M unique blobs!)
▫️ 289k total blocks with blobs
▫️ 523k total blob transactions
These figures are only the top of the iceberg that showcase the substantial impact blobs have had on the Ethereum ecosystem, enhancing its efficiency and usability. More in my post below 👇🏻
More blob submitters are steadily joining the movements, and now we can see a robust ecosystem that includes Base, Optimism, Arbitrum, Taiko, Scroll, Blast, Linea, Starknet, ZORA, and more.
This growing network of L2, utilizing blob power, makes the Ethereum network more efficient, and affordable and, as a result, drives further innovation across all layers and dApps.
EIP-4844 introduced a mechanism that varies the blob base fee based on supply and demand dynamics.
Under its pricing rules, the blob base fee increases if there are more blobs in a block than the target of 3. Conversely, the blob base fee decreases if there are fewer blobs than the target.
In recent days, we've observed the market reaching the current target. This adaptive fee mechanism is designed to ensure efficient blob processing and optimize block space usage.
🔗 dune.com/hildobby/blobs
Before the implementation of EIP-4844, the main question on everyone's mind was about pricing, and we can now say that blobs have exceeded expectations.
A cost comparison between blob and calldata on Rob's dashboard reveals the significant cost savings associated with blobs.
It's clear to see that blobs are remarkably cheaper than calldata. Explore the insights and revel in the savings: dune.com/0xRob/blobs
Blobs have demonstrated that reducing fee costs is achievable!
While there have been instances of cost spikes during this period, teams have worked diligently to address these issues promptly.
EIP-4844 represents a crucial piece of the ETH roadmap puzzle, and its implementation marks a significant improvement in network scalability. Thanks a lot to everyone who helped to make this to the Ethereum mainnet!
Stay tuned with Everstake!
submitted by /u/irina_everstake [comments]
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