Vitalik Buterin, the co-founder of Ethereum, has introduced a new draft for an Ethereum Improvement Proposal, EIP-7706.
Ethereum co-founder Vitalik Buterin has introduced a new Ethereum Improvement Proposal draft, EIP-7706. Its goal is to integrate the three gas types into a coordinated system, including a new type of gas for transaction call data.
The new EIP-7706 applies the same methodology for blob data in EIP-4844 and introduces a separate calldata charge market. This comprises a different per-block gas limit and a unique base fee.
As a result, a block’s maximum calldata size would theoretically be much smaller. Moreover, according to fundamental economic research, call data costs would significantly decrease.
EIP-7706 provides a new transaction type that allows for the management of the three different max-base fee and priority fee variations using the same code paths. The proposal seeks to modify the base fee, which presently executes gas and blobs using different procedures.
The proposal aims to make sure that the more stable mathematical features of the EIP-4844 basefee adjustment algorithm work for all three types of gas. It also aims to make the basefee adjustment rules easier to understand by using the same method for all three types of gas.
The fact that the theoretical maximum size of an Ethereum block is already too large and that increasing it further is not feasible is a significant argument against raising the Ethereum gas limit, decreasing the cost of calldata, or increasing the EIP-4844 blob count before technologies like PeerDAS become available.
Vitalik Buterin previously suggested that Ethereum add multi-dimensional gas pricing in order to improve the network’s resource consumption efficiency.
Ethereum presents EIP-7702 to improve account abstraction
Vitalik Buterin made available EIP-7702, which assigns an externally owned account (EOA) code for a single transaction, last week. This suggestion will enhance the functionality of Ethereum Open Accounts (EOAs), which are user-controlled accounts rather than those governed by smart contract code.
During the breakout meeting, all stakeholder groups enthusiastically embraced this idea as a replacement for EIP-3074.