Ethereum

Block

Ethereum could soon see a significant performance upgrade with a new proposal to increase network speed and efficiency. A recent Ethereum Improvement Proposal (EIP-7781), introduced by Illyriad Games co-founder Ben Adams, aims to slash block times from the current 12 seconds to just 8 seconds. This would result in a 50% boost in throughput. 
The EIP, <a href="https://github.com/ethereum/EIPs/pull/8931#issuecomment-2395026393" target="_blank" rel="noreferrer noopener nofollow">announced</a> on October 5, aims to speed up transaction times by reducing the time it takes for new blocks to be added to the Ethereum blockchain. Additionally, it will increase the capacity of Blobs—a temporary data structure that helps lower fees for layer-2 solutions—ultimately benefiting decentralized exchanges (DEXs) like Uniswap. 
Pseudonymous developer Cygaar, in a post on X, called the proposal the “first huge” move toward improving Ethereum’s base layer. While much of the development focus has been on scaling solutions for Ethereum’s layer-2, this upgrade addresses the core network’s efficiency. 
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The proposal also aims to distribute bandwidth usage over time evenly, lowering peak bandwidth demands without increasing the number of blocks or blobs. 
However, some developers have raised concerns about the potential impact on solo stakers, as shorter block times could increase the hardware and bandwidth requirements to keep up with Ethereum’s growing blockchain data. 
Cinnehaim Ventures partner Adam Cochran noted that while the proposal seems “reasonable,” further testing would be needed to ensure it doesn’t negatively affect home-based stakers. 
This proposal comes shortly after Ethereum co-founder Vitalik Buterin floated the idea of lowering the minimum ETH required to become a validator. This move could help improve network decentralization. 
<blockquote class="wp-block-quote is-layout-flow wp-block-quote-is-layout-flow"> 
 Also Read: <a href="https://www.cryptotimes.io/2024/10/05/vitalik-buterin-praises-ethereum-devs-cooperation-efforts/" target="_blank" rel="noreferrer noopener">Vitalik Buterin Praises Ethereum Devs’ Cooperation Efforts</a> 
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Ethereum Proposal ‘EIP 7781’ Aims to Reduce Block Timing

The Crypto Times

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