Quick Take
Impact of EIP-7762 on blob fee market.
Commit-Boost nears production readiness.
Celo sees a surge in stablecoin adoption.
Base gas target increases to 11 Mgas/s.
Impact Of Blobspace Base Fee Increase
Flashbots researcher Datalaways published an analysis on the impact of EIP-7762, a proposal to increase the minimum base fee in blobspace from 1 wei to approximately 33.55 MWei. The research debunks the misconception that blobs don’t contribute fees to the network, revealing that submitters already pay between $0.10 and $3.00 per blob in mainnet execution fees. The analysis also highlights that the proposed fee increase would reduce the frequency and severity of Priority Gas Auctions (PGAs), leading to more predictable blob pricing. EIP-7762 also addresses the "cold-start problem," where the blobspace fee market is slow to react to rising demand. Datalaways concludes that the impact on market fees will be minimal, with the lowest-cost blobs experiencing a slight increase. Base developers have also expressed their support for EIP-7762.
Commit-Boost Validator Software
Commit-Boost, a software tool designed to restore block-building autonomy for Ethereum validators, is approaching production readiness. The tool enables validators to impose conditions and constraints on block construction, providing greater control when outsourcing the task to external builders via MEV Boost. Commit-Boost standardizes how validators approve specific block construction protocols, known as "shapes," helping to avoid fragmentation within the Ethereum ecosystem while reducing associated risks. As an open-source public good, Commit-Boost invites Ethereum stakeholders to participate in testing ahead of a production-ready release later this year.
Celo Stablecoin Adoption Grows
Celo, an EVM-compatible L1 that is transitioning into an OP Stack L2, is seeing increasing adoption for stablecoin usage on its network. Data from Artemis shows that Celo has now surpassed Tron in daily active addresses for stablecoin transactions. Artemis also highlighted that the growth in transfer sizes across various categories suggests the increase is not driven by spam transactions. The surge in activity is partly due to the rise in mobile payment applications in Africa, such as MiniPay, which enables users to send and receive stablecoins on Celo via their phone numbers. Vitalik Buterin commented on Celo’s progress, emphasizing that global access to basic payments has always been a crucial use case for Ethereum. Celo currently has a TVL of $120 million.
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