- Ethereum Core Developers approve EIP-7691, enhancing network scalability by increasing blobs in a block for Pectra update.
- EIP-7623, co-authored by Vitalik Buterin, adjusts calldata costs to accommodate more blobs, optimizing block space utilization.
- Ongoing discussions on EIP-7762 aim to adjust blob gas market flexibility during peak network usage times.
Christine Kim, Vice President at Galaxy Digital, provided insights into the latest developments in Ethereum’s network during the Ethereum All Core Developers Execution Call #201. On December 5, 2024, significant progress was made towards the Prague-Electra (Pectra) update, which is set to be one of the most comprehensive upgrades since The Merge.
The core development team agreed to incorporate Ethereum Improvement Proposal (EIP) 7691, known as “Blob Throughput Increase,” into the upcoming Pectra update. This proposal aims to enhance the network’s scalability by increasing the allowable number and size of blobs in a block.
Blobs, which are large data segments stored on-chain, facilitate improved data handling and are critical for the network’s performance.
regarding PECTRA, a lot has happened over the last 2 weeks, here's the latest on eth's next upgrade:
— Christine Kim (@christine_dkim) December 6, 2024
Additionally, the developers approved EIP-7623, “Increase Calldata Cost,” co-authored by Vitalik Buterin. This proposal intends to adjust the costs associated with calldata—the data sent with function calls—to effectively decrease the maximum block size. This adjustment is designed to make space for an increased number of blobs, thus optimizing the network’s overall data throughput.
While these two proposals were approved, EIP-7762, aimed at providing flexibility in the blob gas market during peak times, remains under discussion. This proposal is critical for managing congestion and maintaining network efficiency during high-traffic periods.
The agenda for the Pectra update also includes a range of other proposals focused on refining the interaction between Ethereum’s primary layer and secondary scaling solutions, and enhancing the predictability of transaction fees. These adjustments are expected to significantly improve the operational efficiency of the Ethereum network.
The implementation of these changes marks a pivotal advancement in Ethereum’s roadmap. The Pectra update, which is planned to roll out in two phases starting in 2025 and concluding in 2026, represents a significant stride towards making Ethereum more scalable, efficient, and user-friendly.
Despite encountering some initial challenges with the Mekong testnet, developers have addressed these issues, and testing is set to continue on subsequent Devnets.
This series of enhancements under the Pectra initiative underscores Ethereum’s commitment to continuous improvement and adaptation, ensuring its position at the forefront of blockchain technology innovations.
