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

As RUNE tanks a further 45% overnight, can THORChain turn its fortunes around?

As RUNE holders awake to more bad news and a plummeting token price, with the passing proposal 6 by a super majority, can the troubled cross-chain swapping protocol “get users liquid again”

Hottest ERC-20 Meme Coins to Watch as Swiss Banking Giant Jumps into Blockchain

Crypto adoption isn’t slowing down—it’s accelerating  UBS, Switzerland’s largest bank, just started testing blockchain-based digital gold investments using ZKSync, an Ethereum Layer 2

Bitcoin May Return To $76,000 To Resume Bull Run – Here’s Why

As the crypto bull run continues to stall, the Bitcoin (BTC) market remains in consolidation moving mostly between $101,000 – $106, 000 over the past two weeks  Interestingly, a market analyst

Bitcoin Indicator Shows Market Far From Overheating – Details

Crypto analyst Axel Adler Jr has provided some insights on the current status of the Bitcoin (BTC) market based on the adjusted Net Unrealized Profit/Loss (aNUPL) indicator Despite recent

Armstrong Predicts Bitcoin Surge, XRP Traders Brace for Action, and More — Week in Review

Armstrong predicts Bitcoin surge, XRP traders brace for action, Blackrock-backed treasuries arrive on XRP Ledger, and more in this Week in Review Week in Review Coinbase CEO Brian Armstrong predicts

Tether Discusses 70-Story Skyscraper Construction in El Salvador: ‘It Is the Country of the Future’

Paolo Ardoino, CEO of Tether, the stablecoin company, has discussed the company’s plans after moving to El Salvador Ardoino disclosed the construction of a 70-story skyscraper that will be