The Blobs are Here! Proto-danksharding on Ethereum
Coming to a Mempool near you. What on-chain has EIP-4844 unleashed?!
In the depths of the Ethereum blockchain, where smart contracts reign and gas fees soar, a new entity stirs. Awakened by the insatiable minds of Ethereum's core devs, a creature emerges from the digital abyss—introducing the formidable, the revolutionary, the slightly squishy... Blobs!
With the advent of the Dencun upgrade, these blobs are not your ordinary crypto monsters. No, they instead herald the dawn of proto-danksharding, bringing with them a new era of scalability and efficiency to Ethereum.
Imagine a world where data storage no longer competes for space, where transaction costs plummet like the morale of Layer 2 skeptics. This is not the plot of a B-grade horror flick but the reality unleashed by Ethereum's latest foray into the unknown. With blobs on the loose, Layer 2 networks tremble at the possibilities, and the Ethereum blockchain braces for an upheaval not seen since the Berlin hard fork and The Merge.
As these blobs slither through the network, carrying type-3 transactions in their ephemeral grasp, they promise a future where Layer 2 rollups can optimize their settlement to the base layer like never before. Cheap, temporary, and efficient, these blobs are the heroes Ethereum didn't know it needed, fighting the twin evils of high costs and congestion.
Beware, for the blobs are here, and with them, proto-danksharding descends upon Ethereum, coming soon to a mempool near you. What on-chain chaos has EIP-4844 unleashed? Only time will tell, but one thing is for certain: the blockchain will never be the same.
Say Again? You Lost Me
OK. So the main idea of blobs is to serve as a transient data storage mechanism, providing a cheaper alternative to calldata for posting compressed Layer 2 (L2) data to the Layer 1 (L1) base layer. This innovation is particularly geared towards reducing data availability costs, significantly impacting the efficiency and cost-effectiveness of Layer 2 transactions.
With the activation of the Dencun upgrade on the Ethereum mainnet, blobs are set to revolutionize how transactions are posted. By opting for blobs over the traditional calldata method, Layer 2 rollups can achieve significant reductions in transaction costs, passing these savings onto end users. This upgrade does not only improve data availability but also ensures that the current infrastructure remains unaffected, fostering an environment where transaction costs on Layer 2s are maintained at a low, even during periods of high network congestion.
The Dencun upgrade brings more than just EIP-4844 to the table.There’s a total of eight other code updates aimed at enhancing Ethereum's overall performance and scalability. Notable among these is EIP-4788, which introduces an "enshrined oracle" to facilitate better communication between Ethereum's execution and consensus layers, and EIP-1153, which focuses on "transient storage," paving the way for innovations like Uniswap version 4.
What is Proto-danksharding?
Proto-danksharding, as a precursor to full danksharding, plays a crucial role in scaling Ethereum. It simplifies the data storage and availability landscape by introducing blobs and blobspace, a complementary data space alongside Ethereum's traditional blockspace. This approach not only aids in scaling up Ethereum but also sets the stage for future enhancements, including the full implementation of danksharding.
At its core, proto-danksharding introduces a new transaction type capable of carrying blobs, thereby expanding the available block space and enabling more efficient use of resources. This new transaction type, along with a unique consensus layer storage for blobs and a two-dimensional fee market, represents a significant stride towards addressing Ethereum's scalability challenges.
The implications of proto-danksharding for Layer 2 solutions are profound. By leveraging the extra data space provided by blobs, rollups can post commitments to transaction data on-chain more economically, substantially reducing the data fees that have historically constituted a significant portion of user transaction costs on Layer 2s.
As we venture into a post EIP-4844 era, the role of block builders becomes increasingly critical. These entities are responsible for assembling blocks by selecting client data blobs and a mix of transactions, ultimately submitting their proposed blocks to the network. This process underscores the evolving dynamics of Ethereum's network architecture, especially in anticipation of full sharding, which will further distribute data across shards, necessitating greater networking and computing resources from block builders.
The Future of Ethereum Scalability
The introduction of blobs represents a pivotal moment in Ethereum's evolution. Ahead of full danksharding, the groundwork laid by proto-danksharding through blobs and the associated technological advancements promises to significantly enhance Ethereum's scalability, making it more accessible and cost-effective for users worldwide.
Blockwarp believes this is a pivotal moment. All blockchain developers and founders must delve into the arcane knowledge of EIP-4844 and understand the intricate dance of blobs and how they can be wielded to create more efficient, scalable solutions. We suggest starting by experimenting with type-3 transactions, exploring the depths of temporary data storage, and envisioning applications that could benefit from cheaper and ephemeral data availability.
Whether you're building the next groundbreaking Layer 2 solution or optimizing an existing dApp, the blobs await your command. Team up with fellow innovators, participate in hackathons, and engage with the Ethereum community to share your blob-based innovations. Only those who dare to explore the uncharted territories of proto-danksharding will emerge as leaders in the new frontier of blockchain development.