Ethereum

The <a href="https://cryptotale.org/analyst-predicts-solana-outperforming-ethereum-soon/" rel="noopener noreferrer nofollow">Ethereum</a> blockchain introduced a new Ethereum Improvement Proposal (EIP-7781) to improve the network&#39;s performance. Launched on Saturday, the proposal is set to provide various benefits to the network. Notably, it would reduce the block creation times from 12 to 8 seconds, resulting in a 50% increase in the overall throughput.According to an X post by a market observer, the EIP-7781 will reduce slot time for lower peak bandwidth. It would increase transaction throughput by 33% without increasing individual block or blob counts. Further, it will also distribute the bandwidth usage over time to lower the peak bandwidth requirements, thus maintaining network efficiency.The new EIP is designed to boost blob capacity, enabling more efficient handling of large amounts of data. This will further enhance the operations of decentralized exchanges (DEXs)  where transaction throughput directly impacts user experience. It also proposed to lower the block time of the DEXs to 8 seconds so that it can handle more transactions per second and therefore lower the gas fees.Despite receiving positive feedback from the <a href="https://cryptotale.org/buterin-shifts-649-eth-to-paxos-as-ethereum-faces-resistance/" rel="noopener noreferrer nofollow">Ethereum</a> developer community, many were concerned about the expansion of the hardware and bandwidth. This would be a disadvantage to occupants of minor positions.<a href="https://cryptotale.org/ethereums-eip-7781-to-improve-overall-throughput-by-33/" rel="noopener noreferrer nofollow">Read more on Cryptotale.</a>Visit the links for more information <a href="https://cryptotale.org/" rel="noopener noreferrer nofollow">Website</a> | <a href="https://twitter.com/cryptotalemedia" rel="noopener noreferrer nofollow">Twitter </a>| <a href="https://t.me/cryptotale_news" rel="noopener noreferrer nofollow">Telegram </a>| <a href="https://www.instagram.com/cryptotalenews/" rel="noopener noreferrer nofollow">Instagram </a>|

Ethereum's EIP-7781 to Improve Overall Throughput by 33%

CryptoTale

Other articles published on Oct 7, 2024

Bitcoin plans to continue its correction to $57,000. What's next?

$500 in These 3 Dogecoin Rivals Could Turn $50,000 Before DOGE Returns to $0.7

Hamster Kombat's Season 1 Airdrop: Only 43% of Users Eligible

ONDO Breaks Out from a Falling Wedge and Holds Key Support: A Major Price Move on the Horizon?

Arkham Uncovers Bitcoin Wallet with $72.5 Million

NYSE6900—The Future of Meme Stocks is Here!

Join our free newsletter for daily crypto updates!