What‘s the current thinking around the blob target increase? The fee accrual to Ethereum stakers is now 10x less after blobs and the blob fee market has just kicked in a few months ago.
It was widely criticized that the too high blob fee target meant that Ethereum didn‘t capture any value for a long time as price discovery didn‘t happen. Today ETH is mechanically worth less because of that change. Sentiment is down and analysts dislike the project.
Why should we just pass out a free blobs voucher to Base et al when it would be much more beneficial to leave the target where it is right now so that more competition happens around DA?
Ethereum is poised for significant growth, with the potential to one day serve a vast global user base seeking a freer, more open economy. Right now, blob usage has been saturated for several months, resulting in higher fees for users and constrained ecosystem growth. Even though Pectra increase will offer some relief, the expected increase in blob count won’t be enough to handle explosive growth as more rollups come online.
This is a crazy claim. Where is the evidence for this? I actually had to go to Basescan myself because this seemed like such a crazy claim that I thought I was the crazy one. I picked a random transaction for an ERC20 transfer and voila: $0.000708
resulting in higher fees for users and constrained ecosystem growth.
It costs a fraction of a cent to transact on L2s like Base. No user is held back by transacting on Base for $0.000708 or even double or triple that. wat
Whilst client team & EthPandaOps preferences are all important, the community should also take the opportunity to respond in a structured manner to upgrade scoping.