Strengthening Ether as the Ecosystem’s Core Value

Buterin noted the critical importance of positioning Ether as the primary asset of layer 1 and layer 2 Ethereum economies. He argued that layer 2 networks should support transaction fees with ETH and proposed increasing the number of “blobs” to provide more transaction capacity.

Layer-2 Solutions for Scaling

Layer 2 networks have significantly contributed to reducing transaction fees and increasing transaction capacity by operating on Ethereum’s main layer. However, Buterin stressed the need to accelerate the adoption of these solutions and increase interoperability between layer 2 networks.

He stated that Ethereum’s user experience should feel like a single unified ecosystem rather than multiple different blockchains. He also emphasized the need for ETH to continue gaining value in a layer 2-intensive world, highlighting the importance of standardized cross-chain messaging and faster deposit and withdrawal times.

Increasing Transaction Capacity with Blob Scaling

Buterin expressed that the Ethereum network should adopt a blob-focused scaling strategy. (Blobs are a tool that allows the network to process more transactions at lower costs without compromising decentralization or security)

Buterin indicated that forward-looking goals could reach levels like 128 blobs/second, potentially achieving a capacity of 100,000 transactions per second (TPS).

Leadership Change and Ethereum Foundation

Despite adopting an inclusive approach in Ethereum’s development process, Buterin noted that he remains the sole decision-maker in the Ethereum Foundation’s leadership. He stated that this situation would continue until an appropriate board is established with the planned innovations.

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BEP 336 introduces “Blob-Carrying Transactions” (BlobTx), allowing for the temporary and cost-effective storage of large data chunks up to 128 KB. This innovation streamlines the transaction verification process, particularly benefiting opBNB, the layer 2 network of the BNB ecosystem. By verifying data accuracy within blobs rather than individual transactions, BSC enhances efficiency.

The upgrade encompasses a blob market and a precompile contract. The former regulates blob storage and transmission costs based on network demand, while the latter adds a layer of security by verifying data in blobs against their references in transactions.

BEP 336 stands out from Ethereum’s EIP 4844 with features like a dynamic gas pricing mechanism for blobs and a unique token burn mechanism tailored to BSC’s specific needs and structure.

The rollout of BEP 336 will be phased. It will first debut on the testnet in April, followed by a Magnet phase in May for further testing and optimization. Finally, the upgrade is scheduled to launch on the BSC mainnet in June through a hard fork.

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The activation of the upgrade, including the EIP-4844, occurred on the network at epoch 269568, around 10 am ET.

With the implementation of Dencun, Ethereum Layer 2 rollups can now utilize blobs instead of the traditional “calldata” method for posting transactions. This change offers a direct avenue for reducing fees and passing on these savings to end users.

Blobs represent a major enhancement to Ethereum’s infrastructure, aiming to improve data availability without disrupting the current framework. By doing so, they help decrease transaction costs on Layer 2 solutions such as Base, Optimism, Arbitrum One, zkSync, Starknet, and others. A dedicated fee market for blobs will strive to maintain low transaction costs for Layer 2 networks, even during periods of high network congestion.

While some Layer 2 chains are planning to integrate blobs immediately, others may take some time to adopt this new feature.

Additional Improvements Introduced by Dencun

In addition to EIP-4844, the Dencun upgrade brings eight other code updates to the Ethereum network.

One notable improvement is EIP-4788, which introduces an “enshrined oracle” to facilitate communication between Ethereum’s execution layer and consensus layer.

Another significant enhancement is EIP-1153, which focuses on “transient storage,” a critical feature necessary for the launch of Uniswap version 4 later this year.

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Celestia is a platform that stands out in particular for its rollup technology. Rollup technology is becoming increasingly important as the Ethereum community seeks solutions to the current scalability problems. In this context, Vitalik Buterin’s positive statements about Celestia highlight the potential it could offer to the Ethereum ecosystem.

Basic Principles and Operation of Rollup Technology

The discussion was sparked when a user on social media defined Ethereum’s layer-2 protocols as rollups. At this point, the comments made by Daniel Wang, the founder of Taiko, allowed us to address the basic principles of rollup technology and how this technology works. The potential of rollups to use another chain for data availability could increase the diversity and functionality of the Ethereum ecosystem.

Validium Technology and Ethereum Security

Vitalik Buterin’s support for Daniel Wang’s comments, stating that Validium is a suitable option for many applications that can use DA guarantee systems to improve Ethereum security, provides an important perspective on how the security and scalability equation can be balanced. At this point, Buterin’s assessment, as Ethereum’s leading figure, highlights the solutions brought by Celestia and could be a guide for future similar projects.

EIP-4844 and Ethereum’s Rollup Strategy

Ethereum’s EIP-4844 upgrade states that a dedicated place will be reserved for rollups within the Ethereum blockchain. This development can be considered a critical step in determining Ethereum’s future rollup strategy. Buterin’s statements reflect Ethereum’s efforts to make data usage more efficient and economical with this strategy.

Celestia’s Role and Impact on the Ethereum Community

How did the praise of Celestia’s rollup technology resonate in the Ethereum community? How did the interest and support for the project lead to interactions between Ethereum developers, investors, and general users? In this context, we will try to understand the project’s future potential by deeply evaluating Celestia’s role and interactions in the Ethereum community.

The praise of Celestia’s rollup technology offers an exciting preview of the future evolution of Ethereum. As efforts to find solutions to scalability problems gain momentum, Celestia’s success could be a critical factor for Ethereum to maintain its competitive advantage. In this context, the project’s success could increase Ethereum’s overall competitive strength and further strengthen its position in the cryptocurrency world.

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