Ethereum

Core

Dynamic

Blob

<div class="intro-text"> 
 Ethereum developers are preparing to implement a key update in the upcoming Pectra fork aimed at enhancing the network’s scalability through dynamic blob fees. 
</div> 
The update, outlined in the new Ethereum Improvement Proposal (EIP) 7742, is designed to optimize transactions and enhance Layer 2 (L2) scaling solutions. Its implementation is expected to enable the Ethereum consensus layer to dynamically adjust gas targets and maximum values for blobs. 
Blobs are large but temporary data chunks embedded in transactions. They were introduced in March 2024 following the <a style="color: #0000ff;" href="https://defi-planet.com/2024/02/ethereum-developers-successfully-deploy-dencun-upgrade-on-holesky-testnet/">Dencun upgrade</a> to reduce the cost of transactions on L2 networks.&nbsp; 
However, concerns over Ethereum’s scalability arose recently as co-founder Vitalik Buterin<a style="color: #0000ff;" href="https://github.com/ethereum/pm/issues/1153"> pointed out</a> that the network’s fixed blob count was nearing full capacity. The dynamic adjustment mechanism proposed in EIP-7742 is expected to address this issue and prevent potential bottlenecks. 
Christine Kim, vice president of research at Galaxy Digital,<a href="https://x.com/christine_dkim/status/1846937387466641819"> shared</a> details of the proposal on X after attending<a style="color: #0000ff;" href="https://www.youtube.com/live/p3FRr5umt4U?si=0VX7vKI4rhA1mHQR"> Ethereum’s All Core Devs meeting</a>. She emphasized that increasing the blob count and creating a more flexible blob parameter system would help boost scalability. Ethereum developer Alex Stokes also <a style="color: #0000ff;" href="https://github.com/ethereum/EIPs/blob/a7fb2260ae2ea39bdd31886832c9e45452d0e76a/EIPS/eip-7742.md">explained</a> that the new mechanism would reduce the rigidity of the current blob system. 
The Pectra upgrade is expected to roll out by late 2024 or early 2025, with additional improvements like<a href="https://eips.ethereum.org/EIPS/eip-7623"> EIP-7623</a>, which could reduce the maximum block size to free up more blob space. 
These upgrades align with Ethereum’s long-term goal of achieving 100,000 transactions per second, as<a href="https://defi-planet.com/2024/10/vitalik-buterin-targets-100k-tps-for-ethereum-layer-2-networks/"> outlined by co-founder Vitalik Buterin in a recent blog post about his vision for the broader “Surge” phase in Ethereum’s technical development roadmap</a>. 
Buterin noted that this increased speed will apply to both the mainnet and Layer 2 solutions. He also highlighted the need for better interoperability among L2 networks to create a seamless and unified Ethereum ecosystem. 
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The post <a href="https://defi-planet.com/2024/10/ethereums-upcoming-pectra-fork-to-improve-layer-2-scaling-with-dynamic-blob-fees/">Ethereum’s Upcoming Pectra Fork to Improve Layer 2 Scaling with Dynamic Blob Fees</a> appeared first on <a href="https://defi-planet.com">DeFi Planet</a>.

Ethereum’s Upcoming Pectra Fork to Improve Layer 2 Scaling with Dynamic Blob Fees

DeFi Planet

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