Ethereums EIP-7781 Could Slash Block Times by 33%, Boosting Throughput by 50%

EIP-7781 proposes to reduce Ethereum block times by 33% and boost throughput by 50%.
The proposal aims to enhance network efficiency without raising peak bandwidth.
Developer focus is shifting toward Ethereum L2 solutions, but EIP-7781 is seen as a significant step forward for Ethereums base layer.

A new Ethereum Improvement Proposal (EIP) introduced on October 5, 2024, could bring notable improvements to the Ethereum networks performance. Known as EIP-7781, the proposal suggests reducing the current block times from 12 seconds to 8 seconds, thereby increasing data throughput by approximately 50%.

The proposal, submitted by Illyriad Games co-founder Ben Adams, aims at further optimizing Ethereum-based rollups for latency while increasing the blob capacity-the temporary data structure used to reduce Layer-2 network fees. According to Adams, the change will spread bandwidth consumption more effectively without increasing the amount of blocks or blobs each individual is using.

Developers Support Slot Time Reduction

Ethereum researcher Justin Drake, who is in support of EIP-7781, said that reducing the slot times would have several benefits attached to it. As per Drake, such a proposal will increase the gas limit from 30 million to 40 million and also expand the blob limit from 6 to 9 per block.

He further identified that this would make DEXes like Uniswap v3 some 1.22 times more efficient and might save up to $100 million a year in CEX-DEX arbitrage. He added that it cuts user friction- a third of confirmation times is cut by reducing slot times, an action that smooths out peak network loads.

While Drake did acknowledge possible downsides, such as increased sensitivity to timing, for instance, due to the shorter slot-to-ping ratio-he really emphasized that the efficiency balance in the case of an 8-second slot time would nonetheless remain within a healthy margin. That is important, as most of the time, execution clients are idling between blocks being verified.

Significant Step for Ethereums Base Layer

Pseudonymous developer Cygaar was even more effusive in their support for EIP-7781, referring to the proposal as the first huge step in improving Ethereums L1 performance. Whereas most developers have pivoted to working full-time on L2 scaling solutions, Cygaar says this proposal would dramatically improve the efficiency of the base layer by allowing data blobs per block to be increased and block times reduced.

There's a new EIP to increase Ethereum's throughput by 50%.

12 second block times -> 8 seconds
6 data blobs per block -> 9 blobs per block
DEXes become around 1.22x more efficient

If approved, this would be a huge first step in improving Ethereum L1's performance. pic.twitter.com/MkX5gbiBFR
cygaar (@0xCygaar) October 6, 2024

If adopted, the proposal will provide a framework upon which even smaller slot durations could be reduced in the future. Regardless, with an increasingly heated discussion related to scaling Ethereum, EIP-7781 may end up playing an important role in setting up the long-term development of the network.

Text source: TronWeekly

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