One of the most recognizable networks in the industry, a new Ethereum proposal is looking to increase throughput by a remarkable 50%. Indeed, the EIP-7781 is also looking to greatly decrease block times if approved. Specifically, it would reduce them by a notable four seconds, increasing efficiency.
Technological developments have seen a plethora of newtorsk increase their ability to compete with Ethereum. Cardano and Solana have continued to maintain their competition poison, with the former undergoing significant updates. Yet, the new proposal could have Ethereum ensuring its position in the growing industry.
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One New Ethereum Proposal Could Be Gamechanger for the Efficiency of Decentralized Exchanges
Although Etheruem will always maintain a proimnei positon in crypto, the market has evolved past its sole supremacy. NEtworks have increased their ability to compete with it. That has led prominent firms like VanEck to assure that Solana will eventually be able to usurp the network in some respects.
Yet, the evolution for the newotkr continues, as it looks to cement its status in a fast-growing industry. Now, a new Ethereum proposal is looking to increase throughput by 50%. Indeed, the Ethereum Improvement Proposal (EIP) 7781 is set to be massive in terms of data capacity and block times.
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The proposal was introduced earlier this month by Illyriad Games co-founder Ben Adams. Moreover, it is looking to increase latency rollups and blob capacity, with is a temporary data structure initiated to lessen network fees. In a post regarding the proposal, one crypto trader on X (formerly Twitter) discussed its importance.
Specifically, the pseudonymous Cygaar noted the approval would be “a huge first step in improving Etherum L1’s performance.” With so many networks advancing rapidly, keeping pace is crucial for the blockchain. The proposal is also poised to distribute bandwidth over time, and lower bandwidth requirements at peak times.
The proposal was recently approved by Ethereum Foudnation researcher Justin Drake. He noted the EIP’s alignment with the organization, and co-founder Vitalik Buterin’s great goals and hopes for the network.