jakiro
Author: Williamm.peaster, Bankless
Large blockchain projects in the world do not experience major evolution every day.
This is why all the eyes are focused on Ethereum, because this leading smart contract platform will carry out a major upgrade and will introduce an unprecedented mechanism: Blobspace.
The arrival of BLOBS on Ethereum will usher in the first golden age of the L2 expansion solution, which in turn will set off a revolution on how to deal with the NFT.
In today’s article, let us quickly review some points that EIP-4844 and Blobspace and the future need to pay attention to.
Prepare for EIP-4844 and Blobspace NFT
101: The CANCUN-Deneb (also known as Dencun) hard fork upgrades on March 13, 2024, indicating that Ethereum Network will enter the Surge era that designed to double the expansion.
The core of Dencun is to introduce EIP-4844, which will achieve native forks, Blobspace, which is a breakthrough innovation that is designed to help Ethereum’s L2 ecosystem move towards 100,000 transactions (TPS) per second.
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Why is it important: Blobspace is ready to completely change the Ethereum ecosystem by significantly reduced the GAS cost.For the Ethereum L2 solution, the reduction of this GAS cost is particularly important, which will significantly reduce its transaction price, thereby supporting its growth and increasing its attractiveness to a wider user base.
Blobspace’s working principle: The core of Blobspace is to introduce a new method for processing transaction data through Blob (temporary trading data blocks effectively stored on the blockchain).
This system is different from traditional block storage. It uses a pricing mechanism independent of the Ethereum Owner GAS market, namely “Blob Gas”.
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BLOB is created by dividing the data into smaller fragments, and then these fragments are converted into unique identifiers through mathematical methods to store and retrieve them in the future.This process can not only optimize the data storage on the blockchain, but also ensure that the transaction is dealt with faster and more cost -effective.
What will happen next?With the implementation of Dencun’s upgrade, Ethereum L2 will need to manually integrate this new technology to obtain benefits.For example, Optimism plans to start the ECOTONE upgrade immediately after the Dencun deployment, and implement Blobspace in its Superchain ecosystem (such as Optimism, Base, Zora Network, etc.).
Although it may take a few months to complete the integration work on all different L2 platforms, the overall expectation is to quickly adopt the entire Ethereum ecosystem, so as to open a new era of efficiency and scalability for leading smart contract networks.
Estimated cost savings: Optimism community has developed “Superchain Saves Estimator”. The tool is estimated to be as expected to use the GAS cost of Optimism SUPERChain L2 after using Blobspace.
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With this tool, exchanges on the UNISWAP on the base or casting Zora NFT on Zora, etc., all shows that the transaction costs have dropped significantly -in some cases, a decrease of 98%.According to the recent average transaction assumptions of Superchain, some clear examples are as follows: as follows:
UNISWAP exchange on the base:
Previous cost: $ 0.5822
Estimated cost: $ 0.0106
Decrease: 98.18%
ZORA casting NFT on the zora network:
Previous cost: $ 0.3013
Estimated cost: $ 0.0061
Decrease: 97.98%
Mirror NFT for casting Mirror NFT in Optimism:
Previous cost: $ 0.2032
Estimated cost: $ 0.0128
Decrease: 93.70%
Mint.fun NFT casting on Zora Network:
Previous cost: 0.1476 US dollars
Estimated cost: $ 0.0037
Decrease: 97.49%
Send USDC in Base:
Previous cost: $ 0.1758
Estimated cost: $ 0.0037
Decrease: 97.90%
NFT Revolution: Blobspace will greatly reduce the GAS cost related to NFT activities on L2, thereby completely changing the NFT ecosystem.This change has paved the way for the project to pay all transaction costs for its users, similar to the practice of the server cost in the Web2 platform.
In addition, lower costs will promote the development of new applications and promote cross -integration in the field of NFT applications. This is not feasible due to cost limit before. Over time, this will lead to the outbreak of new NFT innovation.Essence
“A cheaper and faster transaction is absolutely crucial for continuing to promote innovation and unlocking new use cases (such as chain games and closed -priced order book exchanges),” the Base team pointed out.”They will also make the new concepts in the field of rapid development and artificial intelligence more practical, and then develop new application categories in the application of chain. These categories have not even been conceived.”
Of course, in addition to saving costs, Blobspace will also open a new design space for NFT, from storage use cases to creating the “headless” NFT market that exists in Blobs.Therefore, the new model is just around the corner!
NFT task: If you are like me, once L2 starts to upgrade with Dencun, you will be keen to try some applications in the ecosystem and see how much Gas can save.Some activities I plan to try include:
Collect a BasePaint daily open version (BASE)
Buy and sell Friend.tech key (BASE)
Collect or publish NFT (BASE, Linea, OP, Zora Network) on Mirror)
Create free coin -free airdrops on Zora (Arbitrum, Base, Blast, OP, Zora Network)
The popular NFT (OP, BASE, Zora Network) on Mint.fun
