HomeNewsBreaking News: Ethereum to Cut Transaction Costs with 'Blobs' in Dencun Update

Breaking News: Ethereum to Cut Transaction Costs with ‘Blobs’ in Dencun Update

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  • The Dencun upgrade aims to expand block space and reduce transaction costs, improving the accessibility and usability of Ethereum.
  • The implementation of blobs in Dencun promises to boost rollups, optimizing transaction efficiency and fostering innovation in the Ethereum network.

The scheduling of the Dencun update on the Ethereum network for March 13 marks a decisive step towards solving one of the most challenging problems for this blockchain: high transaction costs.

This update introduces proto-danksharding and blobs, elements designed to increase the block space and, as a result, lower transactional costs on Ethereum’s secondary layers.

Decrease in Transaction Costs

By integrating transactions that include an additional data block, or “blob”, Dencun seeks to expand the space available in each block. This increase in space not only promises to make transaction processing more efficient, but also to reduce the costs associated with transactions.

This strategy directly addresses the barrier that high costs have imposed on the widespread adoption of Ethereum, encouraging the use of the network for a wider variety of applications without incurring high fees.

Fostering Scalability and Efficiency

With proto-danksharding, a limit of 16 blobs per block is set, each with a maximum of 128 KB. This configuration is anticipated to add approximately 2 megabytes of additional space per block.

This advancement not only improves Ethereum’s processing power but also optimizes efficiency in secondary layer transactions by providing additional spaces for publishing transaction data.

Impact on Rollups

Rollups, whether optimistic or zero-knowledge, will benefit significantly from this extra data space. They will be able to leverage it to publish transactional data commitments on the main chain, using the blobs to store the actual data. This development serves Ethereum scaling infrastructure , offering a tangible solution to concerns about network viability in the face of high transactional costs.

Successful implementation of Dencun could reduce the costs associated with rollups by as much as tenfold, powering a wave of innovation and adoption in Ethereum. By making transactions more accessible, Ethereum could attract a broader spectrum of applications and users, extending its influence in the digital realm.

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Isai Alexei
Isai Alexei
As a content creator, Isai Alexei holds a degree in Marketing, providing a solid foundation for the exploration of technology and finance. Isai's journey into the crypto space began during academic years, where the transformative potential of blockchain technology was initially grasped. Intrigued, Isai delved deeper, ultimately making the inaugural cryptocurrency investment in Bitcoin. Witnessing the evolution of the crypto landscape has been both exciting and educational. Ethereum, with its smart contract capabilities, stands out as Isai's favorite, reflecting a genuine enthusiasm for cutting-edge web3 technologies. Business Email: [email protected] Phone: +49 160 92211628