In brief
- After Ethereum’s Pectra upgrade, blob transaction costs dropped from ~$16,000 daily to a fraction of a penny, making layer-2 networks significantly cheaper to operate.
- Despite blob usage increasing 33%, rollups haven’t fully utilized the expanded capacity.
- The increased data burden from cheaper blobs is forcing smaller validators to merge with larger operations, however.
A month after the Pectra upgrade, key indicators on Ethereum have begun to reveal the promise and pitfalls of the network’s most ambitious technical overhaul since the 2022 “merge.”
One of the major features that the Pectra upgrade brought was expanding the Ethereum blockchain’s capacity for handling “blobs,” which are units of “ephemeral data storage,” helping keep larger amounts of it on the consensus layer, according to a definition from the Protocol developer team.
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Author: Vince Dioquino
