alright troopers! 🔊
you may have heard the term before around crypto X/ twitter 🤷but what is EIP 4844?
let's take a dive into the much-discussed EIP 4844 for ethereum. it's a game-changer, but also complex, so buckle up!
let's kick off with basics; EIP 4844, or ethereum improvement proposal 4844 or proto-danksharding, aims to cut costs for rollup transactions.
it's a boost for rollup operators but perhaps not for main net users.🤷♀️💸
EIP-4844 aims to enhance cost-efficiency in rollup transactions by minimizing gas requirements.
the proposal introduces a novel transaction type that incorporates an additional data field termed a "blob." transactions featuring these blobs are poised to reduce expenses for rollup operators posting data on-chain, thanks to their optimized data access capabilities. 📉
now, why does this matter?
rollups are crucial for ethereum’s scalability. they help by performing transactions off-chain and only sending a summary to the ethereum main chain. 🌐
once EIP-4844 is in place, layer 2 transactions on layer 1 are expected to become 10-100x cheaper, benefiting end users.
the adoption of EIP 4844 sends a strong signal in the market.
ethereum is making a big bet on rollups as the future of its scalability. it's an endorsement of the modular approach in blockchain design. 🏆
here's a twist—EIP 4844 could redefine ethereum.
instead of being a general-purpose blockchain, ethereum could evolve into a data availability layer that serves primarily to rollup operators and sequencers. 🔄🎛️
activation timelines are not set in stone. as of now, the proposal is expected 🤞 to go live around Q4 2023 or Q1 2024.
the true impact will become apparent after it's in action. 🗓️🔮
handle.fi is proud to call arbitrum home and continue to build here!
we're excited for EIP-4844 and all the benefits that come with it! 💙🧡
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