Ethereum proposes 33% transaction increase with EIP 7781 to boost network efficiency

Share This Post

The Ethereum community is evaluating Ethereum Improvement Proposal (EIP) 7781, which aims to increase network throughput by reducing slot time.

On Oct. 5, Ben Adams, co-founder of Illyriad Games, introduced a proposal to lower Ethereum’s slot time from 12 seconds to 8 seconds, which would boost transaction throughput by about 33%.

This change would distribute bandwidth usage more evenly, reducing peak bandwidth needs without increasing the number of data blobs.

Adams clarified that the adjustment would yield a similar effect as increasing the number of blobs from 6 to 8 or raising the gas limit from 30 million to 40 million. However, it avoids increasing peak bandwidth demands.

An Ethereum research bot further explained that reducing slot time would improve rollup latency and throughput without burdening the network’s bandwidth. This keeps the Ethereum network accessible for participants with different bandwidth capabilities.

Meanwhile, the proposal requires a combination of EIP-7623 and EIP-7778 to ensure network stability and higher block rate efficiency.

Early community support

Ethereum Foundation researcher Justin Drake has supported the proposal on GitHub, pointing out that it aligns with Ethereum co-founder Vitalik Buterin‘s broader scaling goals.

Drake also noted that the change would make decentralized exchanges like Uniswap v3 “1.22x more efficient.” He estimated this could save users around $100 million in centralized-to-decentralized exchange arbitrage yearly.

Pseudonymous developer Cygaar called EIP 7781 a significant step toward improving Ethereum’s base layer.

According to Cygaar, this is especially notable as much of the developer focus has shifted to Ethereum Layer 2 networks as scaling solutions.

However, the developer conceded that the EIP still needs to,

“Make sure hardware requirements don’t increase drastically for solo validators, and have to figure out a good solution for the increase in state growth.”

Similarly, Matthew Sigel, the head of digital research at VanEck, stated that the proposal would shift some power back to Ethereum Layer 1. Sigel also pointed out that the suggested changes could signal even more acceleration, with Layer 1 and 2 networks seeing a 50% throughput increase.

The post Ethereum proposes 33% transaction increase with EIP 7781 to boost network efficiency appeared first on CryptoSlate.

Read Entire Article
spot_img
- Advertisement -spot_img

Related Posts

SEC Push Against Elon Musk Stalls as Judge Denies Sanctions

A US federal judge declined the SEC’s request to sanction Elon Musk over his absence from a court-ordered testimony related to his $44 billion acquisition of Twitter Judge Jacqueline Scott

XRP Price Builds a Base: Can Bulls Ignite a New Rally?

XRP price surged further above the $145 and $150 resistance levels The price is now consolidating gains near $140 and might aim for more upsides XRP price started a fresh surge above the $140

Can Bitcoin Price Rise Above $99k Today? Indicators Turn Green Despite Pullback Below $96k

The post Can Bitcoin Price Rise Above $99k Today Indicators Turn Green Despite Pullback Below $96k appeared first on Coinpedia Fintech News Bitcoin is currently down by more than one percent and is

Binance Bitcoin Reserves Up 25%, Holding 40% of Global Market Share

The post Binance Bitcoin Reserves Up 25%, Holding 40% of Global Market Share appeared first on Coinpedia Fintech News Despite persistent fear, uncertainty, and doubt (FUD), Binance’s customer

India’s RBI Boosts Cross-Border Payments Platform with CBDC Integration

The post India’s RBI Boosts Cross-Border Payments Platform with CBDC Integration appeared first on Coinpedia Fintech News The Reserve Bank of India (RBI) is enhancing its cross-border payments

XRP Price Prediction For November 25

The post XRP Price Prediction For November 25 appeared first on Coinpedia Fintech News Ripple’s XRP is currently down by more than five percent and is trading near the $140 levels Majority of the