EIP-4844

Intermediate

What Is EIP-4844?

EIP-4844, short for Ethereum Improvement Proposal 4844, is an important part of the Ethereum Cancun upgrade. EIP-4844 aims to make transactions faster and more affordable. Let's break down what EIP-4844 is and how it benefits users.

EIP-4844, also known as proto-danksharding, is like a toolbox Ethereum developers use to make the Ethereum network better. It's a proposed upgrade that focuses on reducing fees and increasing the amount of transactions Ethereum can handle per second. To achieve this, EIP-4844 introduces a new type of transaction that deals with something called "blobs" of data.

How Does EIP-4844 Work?

If we think of Ethereum as a computer, EIP-4844 is like installing an update to make the computer more efficient. It introduces blob-carrying transactions, which are transactions with extra blobs of data. These transactions are processed in a way that doesn't overload the Ethereum computer, keeping it running smoothly.

What Are Blobs and Why Do They Matter?

Think of blobs as special parcels of information attached to Ethereum transactions. They are like extra luggage you can add to a transaction. The unique thing about blobs is that they're only needed for a short time and are not visible to the Ethereum Virtual Machine (EVM). This makes them a cost-effective way to carry more data without making transactions more expensive or slowing down the network.

EIP-4844's Job: Bolting Blobs onto Blocks

In simple terms, EIP-4844 does a job of attaching these blobs to Ethereum blocks. As Ethereum contributor Ben Edgington says, "EIP-4844 bolts blobs onto blocks." By doing this, EIP-4844 increases the amount of data a block can handle, making transactions faster and more efficient.

Why EIP-4844 Matters for Ethereum Users

Ethereum, like many blockchain platforms, has been facing scalability challenges due to high fees and slower transaction speeds ÔÇô particularly when the networkÔÇÖs traffic is high. EIP-4844 is one of the many solutions to the scalability problem. Once it's in action, users will notice improvements in two main areas:

1. Faster transactions: With the help of EIP-4844, transactions on Ethereum will speed up. It's like upgrading from a slow-moving train to a high-speed one.
2. Lower fees: The new blobs introduced by EIP-4844 are a cost-effective way to carry extra data. This means doing transactions on Ethereum will cost less, making it more accessible to everyone.

EIP-4844: Proto-Danksharding Before Danksharding

EIP-4844 is not the final destination; it's more like a stepping stone towards something even more powerful called danksharding. This is a fancy term for a future upgrade that is set to make Ethereum handle a massive number of transactions without compromising security. So, while EIP-4844 is making transactions faster and cheaper now, it's also getting Ethereum ready for an even more exciting future.