Overview

A new upgrade proposal for Ethereum aims to enhance the network's transaction throughput by 50%. This proposal, known as EIP-7781, seeks to reduce the slot times from 12 seconds to 8 seconds, significantly increasing the speed of transactions.

Key Details

• The proposal was introduced by Ben Adams, co-founder of Illyriad Games, and has gained support from notable figures in the Ethereum community, including Vitalik Buterin and Justin Drake.
• Ethereum has faced challenges regarding its scalability and speed, primarily due to its reliance on layer-2 networks to optimize transaction execution.
• The adjustments proposed could improve decentralized exchanges (DEX) like Uniswap by making them more efficient, potentially saving users up to $100 million per year.

Technical Aspects

The proposal will also allow the blockchain to handle a greater number of data blobs per block, providing expanded storage options for affiliated layer-2 networks, which could enhance the overall integration with Ethereum.

Future Considerations

While there are anticipated benefits to faster transaction speeds, a potential increase in resource requirements for validators is a concern as well.

The news was originally covered by CoinTelegraph.