Ethereum Co-Founder Vitalik Buterin Discusses Proposal to Alleviate Network’s Congestion, High Fees
Ethereum’s co-founder, Vitalik Buterin, and developer Tim Beiko have been discussing a proposed solution to the data transfer gas problem and current scaling issues. Buterin talked about adding a feature like “blob-carry...
Archive context
Older archive item. Useful for background and entity history, but not a fresh market-moving signal.
Ethereum’s co-founder, Vitalik Buterin, and developer Tim Beiko have been discussing a proposed solution to the data transfer gas problem and current scaling issues. Buterin talked about adding a feature like “blob-carrying transactions” in a “near-future hard fork.”
‘Blob-Carrying Transactions’The price of ethereum (ETH) has moved northbound during the last two weeks, climbing more than 25% higher within that time frame. Last week, ETH gained over 16% and the crypto asset managed to climb above the $3K per ETH zone. On February 4, 2022, Ethereum’s co-founder Vitalik Buterin shared a tweet written by ETH developer Tim Beiko which proposes a new Ethereum transaction format.
The first approach makes only the minimum amount of changes for this to be supported by EL clients: https://t.co/Cwor6BgqTC
— Tim Beiko | timbeiko.eth 🔥🧱 (@TimBeiko) February 4, 2022
“Some proposals to add ‘blob-carrying transactions’ in a near-future hard fork, bringing higher scalability to rollups before full sharding is complete,” Buterin wrote. Ethereum’s co-founder further shared an explainer that was published to Reddit which details how the network can scale. Buterin’s proposal notes further detail:
‘[Blob-carrying transactions]’ contain a large amount of data that cannot be accessed by EVM execution, but whose commitment can be accessed. The format is intended to be fully compatible with the future Danksharding spec.
It’s possible that the new ‘blob-carrying transactions’ proposal could be implemented in the Shanghai hard fork. According to Buterin, the new transaction format would be connected to the beacon block and consensus nodes.
“This EIP provides a stop-gap solution until that point by implementing the transaction format that would be used in sharding, but not actually sharding those transactions,” Buterin’s notes state. Ethereum’s co-founder added:
Instead, they would simply be part of the beacon block and would need to be downloaded by all consensus nodes (but can be deleted after only a relatively short delay). There would be a reduced cap on the number of these transactions that can be included, corresponding to a target of ~1 MB per block and a limit of ~2 MB.
Ethereum Data Transfer Fees Remain High, L2 Fees Considerably LowerMeanwhile, the average-sized transaction fee on February 6, 2022, is 0.011 ether or $31.99 per transfer. The median-sized ethereum transaction fee is between $4.59 and $7.87, or 0.0026 ether per transaction. Of course, moving an ERC20 token or swapping a token can cost the users more in gas to push the transaction. Layer-two (L2) transactions are cheaper than onchain layer-one (L1) transfers, with Loopring being the cheapest.
Loopring currently costs $0.11 per transfer while Zksync can cost around $0.17 per transaction. Transfers using L2 solutions like Loopring, Zksync, Polygon Hermez, Optimism, Boba Network, and Arbitrum One are significantly cheaper than L1 transfers. The latest proposal concerning ‘blob-carrying transactions’ could alleviate the chain’s congestion and high fees.
What do you think about Vitalik Buterin’s ‘blob-carrying transactions’ discussion? Do you think this idea could help alleviate the blockchain’s scaling issues? Let us know what you think about this subject in the comments section below.
Why this matters
This ethereum story adds another data point to the current market tape and is useful when read alongside nearby source coverage.
Original source
Read on Bitcoin NewsRelated market context
Vitalik Buterin urges calm as AI raises new fears over Bitcoin and Ethereum cryptography security
Ethereum co-founder Vitalik Buterin warned that AI-driven advances in mathematics could weaken both existing crypto signatures and...
Will AI Break Crypto Encryption? Ethereum’s Vitalik Buterin Weighs In on 'Bunker Mode' Shift
Ethereum co-founder Vitalik Buterin thinks the crypto industry needs to make sure encryption is both quantum and AI-resistant.
‘Don’t rush anything’: Vitalik Buterin warns against hasty wallet migrations amid growing AI threats
Ethereum co-founder Vitalik Buterin warned that the crypto industry should take risks to cryptography from AI-accelerated math ser...
What is Crypto Bunker Mode? Ethereum’s Justin Drake Warns of a Possible AI Break
What is Crypto bunker mode? Ethereum Foundation researcher Justin Drake urged the crypto industry on October 7, 2026, to plan a co...
Ethereum Researcher’s ‘Bunker Mode’ Call Sparks Debate Over Whether AI Math Threatens Crypto Keys
Ethereum Foundation researcher Justin Drake called on Oct. 7 for the blockchain industry to “calmly begin planning” for “bunker mo...
Glamsterdam Upgrade: Sepolia Blocks Leave Most of Ethereum’s New Gas Capacity Unused
Ethereum’s Glamsterdam upgrade has raised Sepolia’s block-gas limit from about 60 million to nearly 200 million, giving developers...