Ethereum Improvement Proposal (EIP) 7781 is set to usher in a wave of changes that could significantly enhance the Ethereum network’s efficiency and scalability. Proposed by Ben Adams, co-founder of Illyriad Games, this proposal aims to reduce network slot times from 12 seconds to eight seconds, thereby increasing transaction throughput by 33% without raising the number of data blobs. Data blobs, crucial for Ethereum’s rollups or layer-2 scaling solutions, help manage data storage and processing, easing congestion and fostering scalability.
EIP-7781 also intends to evenly distribute network bandwidth, reducing peak bandwidth needs while maintaining network efficiency. Adams explains that this approach is akin to increasing blob count from 6 to 8 or gas limit from 30M to 40M but achieves this without boosting peak bandwidth. The proposal has garnered support from notable figures in the Ethereum community, including Ethereum Foundation researcher Justin Drake. Drake believes that reducing slot times to eight seconds would improve the efficiency of decentralized exchanges (DEXes) like Uniswap v3 by 1.22 times, potentially saving $100 million annually in CEX-DEX arbitrage and enhancing trade execution for users.
Pseudonymous developer Cygaar echoed these sentiments, suggesting that EIP-7781 could raise Ethereum’s throughput by up to 50% and help lower gas fees. However, Cygaar warned that reducing slot times should not disproportionately increase hardware requirements for solo validators. A faster blockchain could necessitate more robust hardware and quicker internet speeds, a potential hurdle for solo stakers and node operators.
The proposal has sparked discussions about its implications for solo stakers. Cinnehaim Ventures partner Adam Cochran commented that the proposal seems manageable in terms of bandwidth for solo stakers if the gas limit per block remains unchanged. Cochran emphasized the need for tests on I/O hardware and return ping times to ensure the changes don’t marginalize home stakers.
This concern is particularly pertinent given Ethereum co-founder Vitalik Buterin’s recent advocacy for lowering the ETH requirement for solo stakers from 32 ETH to 16 or 24 ETH. Buterin underscores the importance of solo stakers in securing the network, suggesting that a higher proportion of solo stakers could offer additional protection against network attacks. At press time, ETH is trading at $2,469, marking a 1.7% increase in the last 24 hours.