Ethereum’s co-founder Vitalik Buterin discussed a proposed solution to the data transfer gas problem and current scaling issues. Blockchain Technology
that was published to Reddit which details how the network can scale. Buterin’s proposal notes further detail:
‘[Blob-carrying transactions]’ contain a large amount of data that cannot be accessed by EVM execution, but whose commitment can be accessed. The format is intended to be fully compatible with the future Danksharding spec. It’s possible that the new ‘blob-carrying transactions’ proposal could be implemented in the Shanghai hard fork. According to Buterin, the new transaction format would be connected to the beacon block and consensus nodes.“This EIP provides a stop-gap solution until that point by implementing the transaction format that would be used in sharding, but not actually sharding those transactions,” Buterin’s notes state.
Instead, they would simply be part of the beacon block and would need to be downloaded by all consensus nodes . There would be a reduced cap on the number of these transactions that can be included, corresponding to a target of ~1 MB per block and a limit of ~2 MB.Meanwhile, the average-sized transaction fee on February 6, 2022, is 0.011 ether or $31.99 per transfer. The median-sized ethereum transaction fee is between $4.59 and $7.87, or 0.0026 ether per transaction.
Loopring currently costs $0.11 per transfer while Zksync can cost around $0.17 per transaction. Transfers using L2 solutions like Loopring, Zksync, Polygon Hermez, Optimism, Boba Network, and Arbitrum One are significantly cheaper than L1 transfers. The latest proposal concerning ‘blob-carrying transactions’ could alleviate the chain’s congestion and high fees.
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