On October 5, 2024, a new Ethereum improvement proposal, known as EIP-7781, was introduced by Ben Adams. This proposal aims to reduce the blocking time from 12 seconds to 8 seconds, thereby increasing network throughput by 50%. This initiative could transform the speed of crypto transactions on Ethereum and reduce associated fees.
Crypto: the advantages of Ethereum EIP-7781
The main goal of EIP-7781 is to improve the efficiency of the Ethereum crypto network by reducing the time required to add new blocks to the blockchain. As a result, the capacity of blobs, a temporary data structure used to reduce overhead for Layer 2 solutions, would also be increased.
In addition to increasing throughput, the proposal aims to distribute bandwidth usage more evenly over time. Which would reduce peak bandwidth demands without increasing the number of blocks or blobs. This approach could improve the user experience of Ethereum smart contracts, reducing confirmation times by 33% and smoothing peak loads.
The EIP-7781 proposal comes at a time when the Ethereum community is actively exploring ways to improve the decentralization and security of the network. Vitalik Buterin recently suggested reducing the minimum amount of ETH required to become a validator, which could help improve the decentralization of the crypto network.
Concerns about the Stakers at home!
This proposal is not without challenges because,reducing the blocking time could increase hardware and,bandwidth requirements. Which will be more difficult for home stakers to keep pace with blockchain data growth. Although the proposal seems reasonable, further testing would therefore be necessary to ensure that it does not negatively affect home crypto stakers.
Finally, if adopted, the EIP-7781 proposal could represent a significant step forward for Ethereum. By increasing the speed of crypto transactions and reducing fees, it will still pose technical challenges that will need to be carefully managed.
Maximize your Tremplin.io experience with our 'Read to Earn' program! For every article you read, earn points and access exclusive rewards. Sign up now and start earning benefits.
