The Ethereum Core Team Says EIP-4844 Will Likely Be Implemented In A Future Mainnet Update

Nov. 24, 2022
The Ethereum Core Team Says EIP-4844 Will Likely Be Implemented In A Future Mainnet Update

The widely awaited scaling proposal EIP-4844 will likely be implemented in a future mainnet update, according to a meeting of the Ethereum core team. Developers have agreed to work on the suggested feature by adding EIP-4844, commonly known as “proto-danksharding,” to a list marked “considered for inclusion (CFI).”

If all goes according to plan, this functionality will be implemented on the mainnet sometime in 2023. The Shanghai upgrade, which attempts to allow validators to remove their stakes, may be implemented concurrently with or after the proposal.

Beyond what is possible with Layer 2 solutions, EIP-4844 strives to increase Ethereum’s scalability. In order to solve the scalability requirements of blockchain apps, it will introduce a brand-new transaction structure to Ethereum dubbed “shard blob transactions,” enabling off-chain data to be temporarily stored and accessible by Ethereum nodes.

When employing Layer 2 rollup solutions, where transactions are already five to ten times cheaper than the Ethereum base layer, such as Optimism and Arbitrum, this functionality is meant to make Ethereum even more affordable.

According to Liam Horne, the CEO of OP Labs, who created the Optimism network, EIP-4844 introduces a new fee market to Ethereum for transient data. Instead of using ordinary gas as a means of data availability, rollups would employ this. It might drastically affect the rollup-centric future, lowering costs by a factor of 100.

The Project Overtook Ethereum Development Activity

Over the previous day, Ethereum, the second-largest cryptocurrency by market size, has steadied at its key support. On the other hand, some large-cap alternatives have seen significant gains, and Ethereum has recovered $12,00, representing a 4% daily increase. The majority of other tokens below the 20th place, such as Cosmos (ATOM), barely had single-digit growth, with a few notable outliers.

Despite pricing changes over time, the development of important projects has remained rather consistent. According to the most recent Santiment statistics, Cosmos is now ahead of other significant project ecosystems in this regard. 

The on-chain data analytics platform stated that Atom projects (DVPN & OSMO) had received noticeably high GitHub activity when compared to the typical development activity of significant crypto ecosystems.

Source: Sentiment data

The average development activity for the Cosmos ecosystem has recently been around the 600 level, as seen below. Ethereum came in second with a reading of 466 during the second week of November.

Source: Sentiment data

Although Ethereum’s average activity is lower than that of the Cosmos ecosystem, it is important to note that this project has been making progress on a personal level. Developers have been updating the community on their accomplishments and ongoing effort, which is evident as an upswing on the metric chart.

Ammar Raza

Associate editor
Ammar Raza is an individual with a strong interest in the world of cryptocurrency. He has written extensively on topics such as non-fungible tokens, decentralized apps, and blockchain technology. In addition, he is passionate about collaborating with innovative companies to drive meaningful change.

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