EIP 4844 or “Proto-Danksharding” is known as the most anticipated upgrade for Ethereum (ETH), the largest smart contract blockchain. Besides being a game-changer in the transaction fee economy, it is set to significantly increase the transaction capacity of L2s on Ethereum (ETH).
EIP 4844 to lower L2 fees by 7x, says Ryan Berckmans
Ethereum’s EIP 4844 data blobs are expected to launch in three months to significantly reduce L2 fees, Ethereum (ETH) veteran Ryan Berckmans said at X. The drop in L2 transaction commissions will be accompanied by expanded bandwidth on the network.
Once launched, blob gas will not compete with L1 execution gas, so the entire blob market should clear at significantly lower fees, even if every blob is always sold. As a result, both the cost efficiency and throughput of Ethereum (ETH) will increase by 600%.
With the EIP 4844 activation, L2 solutions of different types will scale Ethereum (ETH) in a novel way. Both solutions with ZK secured validity proofs (Polygon zkEVM, Starknet) and hybrid optimistic rollups (Arbitrum Nova) will benefit from the upgrade and contribute to the scaling of Ethereum (ETH).
This will be the next big thing for usability and accessibility of Ethereum (ETH), says the investor:
As previously stated by U.Today, the Ethereum (ETH) community expects the EIP 4844 activation to make all its L2s faster and cheaper.
More progress for Ethereum L2 rollups
The highly anticipated upgrade is expected to be confirmed in Q1, 2024, after a series of shadow forks and testnet updates.
In the meantime, another game-changing upgrade could open up new opportunities for Ethereum (ETH) L2s. As reported by U.Today, a proposal to add native account abstraction to Layer 2 solutions was released by developers last week.
RIP-7560: Native Account Abstraction is the first-ever rollup-specific performance improvement proposal.
Implementing AA in rollups would require three changes to smart contract accounts: Adjusting the EntryPoint address, rewriting the validateUserOp function, and some minor updates to transaction logic.
