Coinscreed’s Post

Ethereum layer 2 network Base plans to upgrade its gas target to 10MGas/second on July 30, aiming to drive innovation and developer engagement. The upgrade follows previous successes and is expected to attract more users seeking faster and scalable networks. The network has seen recent increases in transactions per second, with the upgrade intended to enhance economic freedom and innovation. Node operators are advised to monitor and upgrade their systems for increased activity.

Ethereum All-Core Devs (ACD) held their final call of 2024 yesterday, which offered key updates on plans to raise the gas limit and progress toward the Pectra upgrade. Developments as to blob management and Devnet-5 is setting the stage for Ethereum’s next hard fork. Read more from the 0xResearch newsletter: https://lnkd.in/ef9gVd7j

Ethereum Introduces Multidimensional Gas Model to Enhance Efficiency and Scalability Vitalik Buterin and a team of experts have put forth the concept of "multidimensional gas" to revolutionize Ethereum's gas fee system. This groundbreaking approach moves away from the current single-dimensional gas model, which often results in inefficient allocation of computational resources. The multi-dimensional gas model aims to address these inefficiencies by differentiating between various types of computational demands, allowing for more efficient processing of operations and reducing costs for certain transactions. This shift not only increases network capacity but also lays the foundation for better support of stateless clients, a crucial advancement that streamlines the handling of proof systems. Ultimately, the adoption of the multidimensional gas approach promises to make Ethereum more scalable, efficient, and robust to meet future demands. Thank you Nadezhda Ivanova for your submission!

Vitalik Buterin Proposes EIP-7706 for Ether Gas Integration Vitalik Buterin, the co-founder of Ethereum, has introduced a new draft for an Ethereum Improvement Proposal, EIP-7706. Ethereum co-founder Vitalik Buterin has introduced a new Ethereum Improvement Proposal draft, EIP-7706. Its goal is to integrate the three gas types into a coordinated system, including a new type of gas for transaction call data. The new... Vitalik Buterin Proposes EIP-7706 for Ether Gas Integration #Block #EIP4844 #EIP7706

Ethereum Gas Processing Charges Reach Five-Year Low as Layer 2 Solutions Grow. #ETH gas fees hit a f#ive-year low due to #Layer 2 growth and the #Dencun upgrade reducing #costs. https://lnkd.in/gJHZXhJh

A new Ethereum Improvement Proposal (EIP-7781) has been introduced, aiming to enhance the Ethereum network's throughput by 50%. This proposal, presented on October 5, 2024, suggests reducing block times from 12 seconds to 8 seconds, which would significantly improve transaction processing speeds and lower fees. The changes are expected to benefit layer-2 solutions like Arbitrum and Optimism by increasing data capacity and reducing latency.Support for the proposal has been strong, with Ethereum Foundation researchers noting its alignment with broader scaling goals. However, there are concerns about the impact on solo stakers, who may need more powerful hardware to keep up with the faster block times. Overall, EIP-7781 represents a critical step towards optimizing Ethereum's infrastructure for future growth.

VITALIK BUTERIN PROPOSES MULTIDIMENSIONAL GAS FRAMEWORK FOR ETHEREUM - Vitalik Buterin proposes a multidimensional gas framework for Ethereum to address inefficiencies in the current system. - The existing unified gas system combines various computational efforts into a single metric, which can be inefficient. - Vitalik’s proposal separates resources like computation and storage into different categories with individual limits and fees. https://lnkd.in/dbKxNbMk

Ethereum's EIP-4844 upgrade will make data storage cheaper for L2s. L2s make up about 13% of the gas used in each block. We expect all of that gas usage to move to the new, cheaper blob spaces. As a result, the base fee is projected to fall on the Ethereum mainnet. Cheaper for everyone? We'll see. Read more here: https://lnkd.in/emXwwYmj

🚀 Layer-2 protocols are transforming Ethereum with ultra-low gas fees. They use Rollups to batch process transactions, saving on costs. Learn more about the magic behind these solutions!

"A network effect is the effect by which the value a user receives from said good or service is dependent on the number of users in the network at the time. The more the users, the higher the value and vice versa. But what happens when critical mass has not yet been achieved? Many projects get stuck in the early stage and fail, it’s a catch 22. In the early stages, network utility is at its lowest so there is not much incentive for a user to migrate to the network." https://lnkd.in/gEQsWQ8A