EIP 4844 or “Proto-Danksharding” is known as the most anticipated upgrade to the largest smart contract blockchain, Ethereum (ETH). In addition to being a game-changer for transaction fee economics, it will significantly increase L2 transaction capabilities on Ethereum (ETH).
Ryan Berckmans says EIP 4844 reduces L2 costs by 7x
Ethereum’s EIP 4844 block is expected to launch within three months to significantly reduce L2 fees, Ethereum (ETH) veteran Ryan Berckmans said at X. The decrease in L2 transaction fees will be accompanied by an increase in network bandwidth.
Once launched, blob gas will not compete with L1 execution gas, so even if every blob is always sold, the entire blob market should clear at a much lower fee. This will increase Ethereum’s (ETH) cost efficiency and throughput by 600%.
With the activation of EIP 4844, different types of L2 solutions will scale Ethereum (ETH) in a novel way. Both ZK-safe proof of validity solutions (Polygon zkEVM, Starknet) and hybrid optimistic rollups (Arbitrum Nova) will benefit from the upgrade and help Ethereum (ETH) scale.
Investors say this will be the next big thing in Ethereum (ETH) usability and accessibility:
As mentioned above, the Ethereum (ETH) community expects the EIP 4844 activation to make all of its L2 faster and cheaper.
Further progress on Ethereum L2 rollout
After a series of shadow forks and testnet updates, the highly anticipated upgrade will be confirmed in Q1 2024.
Meanwhile, another game-changing upgrade could bring new opportunities to Ethereum (ETH) L2. Developers reportedly released a proposal last week to add native account abstraction to Layer 2 solutions.
