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A new Ethereum (ETH) Improvement Proposal, EIP-7781, has been introduced to reduce Ethereum’s slot time from 12 seconds to 8 seconds. According to researcher Ben Adams, the proposal is designed to lower roll-up latency while enhancing transaction throughput by 33%. This could improve the efficiency and speed of operations across the Ethereum network.
New Proposal to Enhance Transaction Throughput
Meanwhile, the core idea behind EIP-7781 is to reduce the time it takes to confirm transactions on the blockchain. Slot time refers to the interval between blocks being produced. Shortening this interval could lead to faster transaction processing and an overall smoother network experience for users. With roll-ups being a key layer-2 solution for Ethereum’s scalability, this change could directly benefit these systems by reducing the time it takes to settle transactions.
Moreover, the anticipated 33% increase in transaction throughput is similar to other methods that aim to improve the network’s capacity. For instance, raising the gas limit per block from 30 million to 40 million would offer a similar boost in throughput. Another comparable approach would be to increase blob capacity from 6 to 8, allowing more data to be processed in each block.
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However, EIP-7781 seeks to achieve these gains without increasing the network’s peak bandwidth requirements, which could strain Ethereum’s resources. Specifically, this proposal is timely as Ethereum seeks solutions to manage its growing user base and transaction demand. While still in the proposal stage, if adopted, EIP-7781 could mark another step forward in Ethereum’s journey toward greater scalability and efficiency.
EIP-3074 Promises Enhanced User Experience
Ethereum developers are optimistic about integrating EIP-3074 in Ethereum’s next upgrade. The upgrade, nicknamed Pectra, promises lots of user experience enabling certain wallet functions to be delegated to smart contracts. Although Ethereum developers are gearing up for the Pectra upgrade which has been in the pipeline for almost four years, there are concerns about certain vulnerabilities associated with EIP-3074.
EIP-3074 introduces valuable functionalities such as batched transactions and enhanced security features. However, developers have raised red flags regarding its susceptibility to exploitation. Despite these concerns, Ethereum protocol support lead Tim Beiko said there is a collective decision to move forward with the EIP-3074 inclusion in the Pectra upgrade. Experts affirmed it is key to maintaining Ethereum’s impressive performance in the crypto sphere.
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Vitalik Buterin Unveiled Plan to Improve Ethereum
Recently, Ethereum co-founder Vitalik Buterin revealed its plan for the network. His vision revolved around balancing, an intricate approach that merges integration, decentralization, and cooperation while maintaining the network’s core values. Buterin’s concept of balancing is not merely about technical upgrades; it is a philosophical framework for how Ethereum can evolve while addressing key challenges.
Likewise, Buterin affirmed that it is important to clarify the concept of alignment and break it down into specific characteristics represented by specific metrics. These metrics compromise open standards, positive-sum, open source, decentralization, and security. Notably, the concept of positive-sum applies to the Ethereum blockchain and the wider world.
Interestingly, Vitalik has consistently pushed for improvements to the network, seeking to make it more efficient, secure, and scalable.
